Genie Music

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Not to be confused with Genie Records.

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Genie Music Corporation
Native name
 주식회사 지니뮤직
Public joint-stock company
Traded as KRX: 043610
Industry contents (music)
Predecessor Blue Cord Technology Co., Ltd.
(as a division)
Founded February 7, 1991
Headquarters 6th - 8th floors L7 Hotels Gangnam Tower, 415 Teheran-ro, Samseong-dong, Gangnam-gu, Seoul, South Korea
Area served
 worldwide
Key people
 Kim Hoon-bae (CEO)[1]
Products music albums, online services
Services production, distribution
Owner KT StudioGenie: 35.97%[2][3]
CJ ENM: 15.35%
LG U+: 12.70%
Parent KT Corporation
Website GENIEMUSIC.co.kr/

Genie Music (Hangul: 지니뮤직), 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][12][13]

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

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

Former

Domestic

Foreign

References

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External links

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  1. ↑ Genie Music appoints Kim Hoon-bae as new CEO Archived 2017-06-23 at the Wayback Machine (Park Soo-hyeong, ZDNet Korea, 2017-6-23)
  2. ↑ 2.0 2.1 Genie Music poses threat to Melon by acquiring CJ Digital Music Archived 2018-10-23 at the Wayback Machine (Jun Ji-hye, The Korea Times, 2018-10-09)
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  9. ↑ KTF acquires Blue Cord Archived 2017-08-27 at the Wayback Machine (Nam Seung-bong, Ulsan Daily Newspaper, 2007-11-14)
  10. ↑ Blue Cord changes name to KTF Music Archived 2017-08-27 at the Wayback Machine (Lee Soo-eun, NextDaily, 2008-3-28)
  11. ↑ Blue Cord renames as KTF Music Archived 2017-08-27 at the Wayback Machine (Dorothy H.W. Sim, DigitalTimes, 2008-3-28)
  12. ↑ KT acquires KMP Holdings "for music competitiveness" Archived 2018-06-14 at the Wayback Machine (Jung Yoon-hee, ZDNet Korea, 2012-11-2)
  13. ↑ Effects of KT Music's acquisition of KMP Holdings on the "Big Three" Archived 2017-08-27 at the Wayback Machine (Choi Jung-soo, The Asia Economy Daily, 2013-3-8)
  14. ↑ LG Uplus invests in KT Music... "Strengthening the competitiveness of music platform" Archived 2017-08-09 at the Wayback Machine (Shin Min-kwan, The Chosun Ilbo, 2017-3-15)
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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