Genie Music
Genie Music (Korean: 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.[3][4]
Native name | 주식회사 지니뮤직 |
---|---|
Type | Public joint-stock company |
KRX: 043610 | |
Industry | contents (music) |
Predecessor | Blue Cord Technology Co., Ltd. (as a division) |
Founded | February 7, 1991 |
Headquarters | , |
Area served | worldwide |
Key people | Kim Hoon-bae (CEO)[1] |
Products | music albums, online services |
Services | production, distribution |
Owner | As of October 10, 2018:[2] KT Corporation: 35.97% CJ ENM: 15.35% LG U+: 12.70% |
Parent | KT Corporation |
Website | GENIEMUSIC.co.kr/ |
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.[5][6][7][8][9][10][11][12]
Following the investment of LG Uplus, the company changed its name to Genie Music in March 2017.[13][14]
In October 2018, Genie Music and CJ ENM's CJ Digital Music merged, with Genie Music being the surviving entity.[2]
Assets
- Genie (online music service)
- Shop&Genie (music service for stores and other businesses)
Distribution Network
Domestic
- Star Empire Entertainment
- Signal Entertainment Group[15]
- Stone Music Entertainment (digital format only; 2018–present)
- MMO Entertainment
- Jellyfish Entertainment
- Hi-Lite Records
- AOMG (also with Kakao M)
- Amoeba Culture
- SWING Entertainment
- Off The Record Entertainment
- LM Entertainment
- Happy Face Entertainment (with Kakao M)
- HF Music Company
- Dreamcatcher Company
- D1CE Company
- Music Factory Entertainment
- MTN ENTERTAINMENT (with Kakao M)
Foreign
- Stone Music Entertainment (digital format only; 2018–present)
- King Records 'You be Cool' division (AKB48)
- ShowBT Entertainment Philippines Corp.,
(2020–present) for SB19 Only.
Domestic
- Astory Entertainment (2017–2019, now with NHN Bugs)
- J. Tune Camp (defunct)
- JYP Entertainment (until 2018, now with Dreamus Company)
- Lion Media
- MBK Entertainment (2013–2014; now with Kakao M)
- NH Media
- SM Entertainment (until 2018, now with Dreamus Company)
- Source Music (2010–2016; now with Kakao M)
- Stardom Entertainment (defunct)
- Starkim Entertainment
- YG Entertainment (until 2019, all releases now distributed by subsidiary YG PLUS)
- YMC Entertainment
Foreign
- Avex Group (until 2018, now with Dreamus Company)
- J Storm (until 2018, now with Dreamus Company)
References
- Genie Music appoints Kim Hoon-bae as new CEO (Park Soo-hyeong, ZDNet Korea, 2017-6-23)
- Genie Music poses threat to Melon by acquiring CJ Digital Music (Jun Ji-hye, The Korea Times, 2018-10-09)
- Sohn Ji-young (April 17, 2018). "Kakao's Melon app dominates Korea's music streaming service market". The Korea Herald.
- Son Ji-hyoung (June 24, 2018). "[Kosdaq Star] Genie Music garners investor attention on anticipated M&A". The Korea Herald. Retrieved November 11, 2018.
- KT Music History
- Blue Cord Technology History
- "Doremi Media History". Archived from the original on 2015-08-14. Retrieved 2015-11-23.
- KTF acquires Blue Cord (Nam Seung-bong, Ulsan Daily Newspaper, 2007-11-14)
- Blue Cord changes name to KTF Music (Lee Soo-eun, NextDaily, 2008-3-28)
- Blue Cord renames as KTF Music (Dorothy H.W. Sim, DigitalTimes, 2008-3-28)
- KT acquires KMP Holdings "for music competitiveness" (Jung Yoon-hee, ZDNet Korea, 2012-11-2)
- Effects of KT Music's acquisition of KMP Holdings on the "Big Three" (Choi Jung-soo, The Asia Economy Daily, 2013-3-8)
- LG Uplus invests in KT Music... "Strengthening the competitiveness of music platform" (Shin Min-kwan, The Chosun Ilbo, 2017-3-15)
- Song Su-hyun (March 15, 2017). "KT, LG Uplus join hands on home IoT, AI services". The Korea Herald. Retrieved January 31, 2018.
- http://finance.daum.net/item/newsview.daum?code=099830&docid=MD20161213143504014&no=3&nil_profile=stockprice&nil_menu=b019
External links
- Official website (in Korean)