Japan’s Tokyo Broadcasting System (TBS) is to launch a new company with a 30bn yen ($265.6m) content production budget as part of its global expansion strategy.
The new company will begin full-scale operations in March 2022 as a wholly owned subsidiary of TBS Holdings. It will plan, develop and produce dramas and other visual content for global platforms.
It will also seek to expands its IP beyond TV content into movies, live entertainment and the licensing business.
The broadcaster’s plans come as part of its EDGE (Expand Digital, Global and Experience) strategy under its Vision 2030 programme, which was announced in May.
As well as the new company, TBS plans to construct a new studio in its Midoriyama Studio City by March 2023. The studio will be part of TBS’s new infrastructure for globally expanding its content.
Furthermore, digital comic platform Manga Box will become TBS’ consolidated subsidiary in the third quarter as it grows to generate IP for the company’s portfolio. TBS acquired a 49% stake in the platform last year.
Tatsuo Sugai, board director at TBS Holdings said “I am thrilled that TBS now has the foundation to create content that people around the world can enjoy.
“With a new production company, high-spec studios and a subsidiary manga platform, we will further accelerate the production of quality content originating from Japan, such as dramas, animations and variety, and create moments of joy for people across the world.”