Key Takeaways
- Tokyo Broadcasting System (TBS) has entered into a non-exclusive agreement with Legendary Entertainment to source and develop Japanese IP.
- TBS has acquired $150 million of equity from Legendary, representing a small minority ownership stake in the company.
- The agreement brings together Legendary’s development, production, and marketing expertise with TBS’ reputation in the Japanese market.
- The partnership aims to expand both companies’ global relationships and bring Japanese IP to a global audience.
- Legendary is already producing several projects based on Japanese IP, including Godzilla x Kong: Supernova and Pokémon: Detective Pikachu.
Introduction to the Partnership
Tokyo Broadcasting System (TBS) and Legendary Entertainment have formed a non-exclusive agreement to source and develop Japanese IP. As part of the agreement, TBS has acquired $150 million of equity from Legendary and its existing shareholders, representing a small minority ownership stake in the company. This move marks a significant step in the expansion of both companies’ global relationships, with TBS gaining access to Legendary’s development, production, and marketing expertise, and Legendary benefiting from TBS’ respected reputation in the Japanese market. The remaining equity of Legendary continues to be owned by the company’s management and funds managed by affiliates of Apollo, who remain equal control shareholders of the business.
Benefits of the Partnership
The agreement between TBS and Legendary is non-exclusive, allowing both companies to continue exploring other opportunities and partnerships. However, the collaboration brings together two industry leaders with complementary strengths, creating a powerful synergy that can drive growth and innovation. Legendary’s expertise in developing and producing global hits, combined with TBS’ deep understanding of the Japanese market, presents exciting opportunities for collaboration and the creation of new content. The partnership also supports each company’s continued expansion of global relationships, with TBS looking to broaden its presence outside Japan and Legendary seeking to deepen its roots in key markets.
Legendary’s Existing Projects
Legendary is already actively engaged in producing several projects based on Japanese IP, including theatrical and episodic content. Some of the notable projects in development or production include Godzilla x Kong: Supernova, Monarch: Legacy of Monsters, Street Fighter, and Gundam. The company has also previously produced Pokémon: Detective Pikachu, which was a commercial success. These projects demonstrate Legendary’s commitment to bringing Japanese IP to a global audience and its ability to work with a wide range of creators and properties. With TBS on board, Legendary is likely to accelerate its development of Japanese IP, leveraging TBS’ expertise and connections in the local market.
TBS’ Global Strategy
The agreement with Legendary is part of TBS’ broader strategy to expand its content and production capabilities beyond Japan. The company has identified Legendary as a partner that aligns with its long-term goals, and the investment in the company is a key step in this strategy. TBS is looking to broaden its presence outside Japan, and the partnership with Legendary provides a strong foundation for this expansion. The company’s global strategy studios, The Seven and The Seven US, have recently received a significant capital increase of $180 million, which will be used to accelerate content investment and support the creation of world-class content for global audiences.
Quotes from Company Executives
The CEOs of both companies have expressed their enthusiasm for the partnership, highlighting the opportunities it presents for collaboration and growth. Josh Grode, CEO of Legendary Entertainment, noted that TBS’ position in the Japanese market presents exciting opportunities for collaboration and that the company looks forward to working with TBS to broaden its relationships in Japan. Yayoi Nakatani, Board Director and Chief Growth Officer of TBS Holdings, Inc., stated that the partnership with Legendary is a key part of the company’s global strategy and that the company is thrilled to partner with a world-class studio like Legendary. The quotes from the company executives underscore the mutual respect and enthusiasm between the two companies and highlight the potential for the partnership to drive growth and innovation in the industry.
Conclusion
The partnership between TBS and Legendary Entertainment marks a significant development in the expansion of both companies’ global relationships. The agreement brings together two industry leaders with complementary strengths, creating a powerful synergy that can drive growth and innovation. With TBS’ expertise in the Japanese market and Legendary’s experience in developing and producing global hits, the partnership is well-positioned to bring Japanese IP to a global audience. As the companies look to the future, they are likely to explore new opportunities for collaboration and content creation, leveraging their combined strengths to drive success in the global market.
