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Genie Music

Genie Music, a subsidiary of KT Corporation, is a South Korean company that specializes in the production and distribution of music content. Its music streaming service is the second most used in South Korea with 2.5 million subscribers as of June 2018.[4][5]

History

The company's history can be traced from the music contents division of Blue Cord Technology, established in 1991. The same division then owned Muz (now Olleh Music), one of the major music portals in the country. The division was also strengthened by the acquisition of Doremi Media (one of South Korea's well-known music publishers) in 2000.

In 2007, Blue Cord was acquired by KT Freetel, and upon merging with the former, made the music division a separate company named KTF Music. In 2009, the company was renamed as KT Music due to the merger of KTF and its parent KT Corporation.

It acquired KMP Holdings in 2012.[6][7][8][9][10][11]

Following the investment of LG Uplus, the company changed its name to Genie Music in March 2017.[12][13]

In October 2018, Genie Music and CJ ENM's CJ Digital Music merged, with Genie Music being the surviving entity and CJ ENM being the former's second largest shareholder with 15.35%.[2]

Assets

  • Genie (online music service)
  • Shop&Genie (music service for stores and other businesses)

Distribution Network

Present

Domestic

Foreign

  • ShowBT Entertainment Philippines Corp (2020–present)
  • SB19

Domestic

Foreign

  • ShowBT Entertainment Philippines Corp (2020–present)
  • SB19

Former

Domestic

Foreign

Domestic

Foreign

External links

References

  1. Genie Music appoints Kim Hoon-bae as new CEO (Park Soo-hyeong, ZDNet Korea, 2017-6-23)^
  2. Genie Music poses threat to Melon by acquiring CJ Digital Music (Jun Ji-hye, The Korea Times, 2018-10-09)^
  3. Kim Ha-neul. [특징주] 지니뮤직, '우영우' 훈풍에 주가 움직인다 'KT스튜디오지니 자회사' NBN TV, July 15, 2022, retrieved July 15, 2022^
  4. Kakao's Melon app dominates Korea's music streaming service market The Korea Herald, April 17, 2018, retrieved November 11, 2018^
  5. [Kosdaq Star] Genie Music garners investor attention on anticipated M&A The Korea Herald, June 24, 2018, retrieved November 11, 2018^
  6. KT Music History retrieved 2015-11-23^
  7. Blue Cord Technology History retrieved 2015-11-23^
  8. Doremi Media History retrieved 2015-11-23^
  9. KTF acquires Blue Cord (Nam Seung-bong, Ulsan Daily Newspaper, 2007-11-14)^
  10. 디지털타임스. 블루코드, `KTF뮤직` 사명변경 디지털타임스, 2008-03-28, retrieved 2026-03-30^
  11. KT, KMP홀딩스 인수…“음원경쟁력 강화” zdnet.co.kr, 2012-11-02, retrieved 2026-03-30^
  12. [http://biz.chosun.com/site/data/html_dir/2017/03/15/2017031502746.html LG Uplus invests in KT Music... "Strengthening the competitiveness of music platform"] (Shin Min-kwan, The Chosun Ilbo, 2017-3-15)^
  13. KT, LG Uplus join hands on home IoT, AI services The Korea Herald, March 15, 2017, retrieved January 31, 2018^
  14. Daum 원하시는 페이지를 찾을 수가 없습니다 retrieved 2018-08-06^