Genie Music(Korean:지니뮤직), a subsidiary ofKT 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]

Genie Music Corporation
Native name
주식회사 지니뮤직
Company typePublicjoint-stock company
KRX:043610
Industrycontents(music)
PredecessorBlue Cord Technology Co., Ltd.
(as a division)
FoundedFebruary 7, 1991
Headquarters
6th - 8th floorsL7 HotelsGangnam Tower, 415Teheran-ro,Samseong-dong,Gangnam-gu,Seoul
,
Area served
worldwide
Key people
Kim Hoon-bae (CEO)[1]
Productsmusic albums, online services
Servicesproduction, distribution
OwnerKT StudioGenie:35.97%[2][3]
CJ ENM:15.35%
LG U+:12.70%
ParentKT Corporation
SubsidiariesMillie's Library[ko]
WebsiteGENIEMUSIC.co.kr/

History

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The company's history can be traced from the music contents division of Blue Cord Technology, established in 1991. The same division then ownedMuz(nowOlleh 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 byKT Freetel,and upon merging with the former, made the music division a separate company namedKTF Music.In 2009, the company was renamed asKT Musicdue to the merger of KTF and its parentKT Corporation.

It acquiredKMP Holdingsin 2012.[6][7][8][9][10][11][12][13]

Following the investment ofLG Uplus,the company changed its name to Genie Music in March 2017.[14][15]

In October 2018, Genie Music andCJ 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

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Distribution Network

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Present

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Domestic

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Foreign

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Former

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Domestic

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Foreign

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References

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  1. ^Genie Music appoints Kim Hoon-bae as new CEOArchived2017-06-23 at theWayback Machine(Park Soo-hyeong, ZDNet Korea, 2017-6-23)
  2. ^abGenie Music poses threat to Melon by acquiring CJ Digital MusicArchived2018-10-23 at theWayback Machine(Jun Ji-hye,The Korea Times,2018-10-09)
  3. ^Ha-neul, Kim (July 15, 2022)."[특징주] 지니뮤직, '우영우' 훈풍에 주가 움직인다 'KT스튜디오지니 자회사'"[[Features] Genie Music, 'Woo Young-Woo' stock price moves on warm wind 'KT StudioGenie subsidiary'].NBN TV(in Korean).Archivedfrom the original on July 15, 2022.RetrievedJuly 15,2022.
  4. ^Sohn Ji-young (April 17, 2018)."Kakao's Melon app dominates Korea's music streaming service market".The Korea Herald.Archivedfrom the original on August 6, 2018.RetrievedNovember 11,2018.
  5. ^Son Ji-hyoung (June 24, 2018)."[Kosdaq Star] Genie Music garners investor attention on anticipated M&A".The Korea Herald.Archivedfrom the original on November 10, 2018.RetrievedNovember 11,2018.
  6. ^"KT Music History".Archivedfrom the original on 2016-12-28.Retrieved2015-11-23.
  7. ^"Blue Cord Technology History".Archived fromthe originalon 2017-08-27.Retrieved2015-11-23.
  8. ^"Doremi Media History".Archived fromthe originalon 2015-08-14.Retrieved2015-11-23.
  9. ^KTF acquires Blue CordArchived2017-08-27 at theWayback Machine(Nam Seung-bong, Ulsan Daily Newspaper, 2007-11-14)
  10. ^Blue Cord changes name to KTF MusicArchived2017-08-27 at theWayback Machine(Lee Soo-eun, NextDaily, 2008-3-28)
  11. ^Blue Cord renames as KTF MusicArchived2017-08-27 at theWayback Machine(Dorothy H.W. Sim, DigitalTimes, 2008-3-28)
  12. ^KT acquires KMP Holdings "for music competitiveness"Archived2018-06-14 at theWayback Machine(Jung Yoon-hee, ZDNet Korea, 2012-11-2)
  13. ^Effects of KT Music's acquisition of KMP Holdings on the "Big Three"Archived2017-08-27 at theWayback Machine(Choi Jung-soo, The Asia Economy Daily, 2013-3-8)
  14. ^LG Uplus invests in KT Music... "Strengthening the competitiveness of music platform"Archived2017-08-09 at theWayback Machine(Shin Min-kwan,The Chosun Ilbo,2017-3-15)
  15. ^Song Su-hyun (March 15, 2017)."KT, LG Uplus join hands on home IoT, AI services".The Korea Herald.Archivedfrom the original on January 31, 2018.RetrievedJanuary 31,2018.
  16. ^"Daum 원하시는 페이지를 찾을 수가 없습니다".Archivedfrom the original on 2018-08-06.Retrieved2018-08-06.
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