- Korean Film News
Korean Film News
CJ Entertainment Turkey Captures 31% of Domestic Winter Sales
Feb 19, 2018
- Writerby Christopher Weatherspoon
Less Than a Year Old, CJ’s Turkish Venture is Country’s Top Distributor
CJ E&M’s Turkish venture, CJ Entertainment Turkey, has quickly risen to become a key player in the Turkish film industry. Established in May of last year, CJ Entertainment Turkey has grown quickly and accounted for nearly a third of theater ticket sales in the Turkish film market during the winter season from October to late January.
CJ Entertainment Turkey released its first film on October 30 last year and since then has released four additional movies. The five titles, which were all financed, produced and distributed by the company, have to date sold a combined 8.86 million tickets representing 31% of the Turkish film market. CJ Entertainment Turkey achieving a 31% market share is impressive considering that winter is Turkey’s most competitive season for film releases. It is estimated that 70% of Turkey’s total annual movie audience is driven by the winter peak season, which lasts from October to April.
Of the five films released so far, three have broken even financially and two have landed in the all-time top ten list for domestic ticket sales. CJ Entertainment Turkey is already making plans for the current year with a road map that includes teaming up with BKM, Turkey’s largest film studio, as well as investing in and distributing 10 local films by the end of the 2018. The company is also currently in talks to produce Turkish versions of hit Korean films such as The Spy: Undercover Operation (2013) and Miss Granny (2014).
CJ Entertainment Turkey has managed to dominate locally by establishing a content company that handles investment, production and distribution of local films. In 2017, CJ E&M also purchased the Mars Entertainment Group, which operates Turkey's largest chain of movie theaters and boasts 736 screens in 83 cinemas across 28 cities
CJ E&M has made no secret of its plans for aggressive global expansion. Already the largest film distributor and exhibitor in South Korea, the company has worked to expand its international footprint and currently operates studios or theater chains in several territories including China, Indonesia, Thailand, Vietnam and Russia.