KT Music
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KT Music
Genie Music Corporation
Native name
? ?
Public joint-stock company
Traded asKRX: 043610
Industrycontents (music)
PredecessorBlue Cord Technology Co., Ltd.
(as a division)
FoundedFebruary 7, 1991
HeadquartersYeongdong-daero 106-gil 17, Samseong-dong, Gangnam-gu, Seoul, South Korea
Area served
worldwide
Key people
Kim Hoon-bae (CEO)[1]
Productsmusic albums, online services
Servicesproduction, distribution
OwnerAs of October 10, 2018:[2]
KT Corporation: 35.97%
CJ ENM: 15.35%
LG U+: 12.70%
ParentKT Corporation
WebsiteGENIEMUSIC.co.kr/

Genie Music (Hangul?), 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 the second most used in South Korea with 2.5 million subscribers as of June 2018.[3][4]

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 on 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

Distribution Network

Present

Domestic

Foreign

Former

Domestic

Foreign

References

  1. ^ Genie Music appoints Kim Hoon-bae as new CEO (Park Soo-hyeong, ZDNet Korea, 2017-6-23)
  2. ^ a b Genie Music poses threat to Melon by acquiring CJ Digital Music (Jun Ji-hye, The Korea Times, 2018-10-09)
  3. ^ Sohn Ji-young (April 17, 2018). "Kakao's Melon app dominates Korea's music streaming service market". The Korea Herald.
  4. ^ Son Ji-hyoung (June 24, 2018). "[Kosdaq Star] Genie Music garners investor attention on anticipated M&A". The Korea Herald. Retrieved 2018.
  5. ^ KT Music History
  6. ^ Blue Cord Technology History
  7. ^ Doremi Media History
  8. ^ KTF acquires Blue Cord (Nam Seung-bong, Ulsan Daily Newspaper, 2007-11-14)
  9. ^ Blue Cord changes name to KTF Music (Lee Soo-eun, NextDaily, 2008-3-28)
  10. ^ Blue Cord renames as KTF Music (Dorothy H.W. Sim, DigitalTimes, 2008-3-28)
  11. ^ KT acquires KMP Holdings "for music competitiveness" (Jung Yoon-hee, ZDNet Korea, 2012-11-2)
  12. ^ Effects of KT Music's acquisition of KMP Holdings on the "Big Three" (Choi Jung-soo, The Asia Economy Daily, 2013-3-8)
  13. ^ LG Uplus invests in KT Music... "Strengthening the competitiveness of music platform" (Shin Min-kwan, The Chosun Ilbo, 2017-3-15)
  14. ^ Song Su-hyun (March 15, 2017). "KT, LG Uplus join hands on home IoT, AI services". The Korea Herald. Retrieved 2018.
  15. ^ http://finance.daum.net/item/newsview.daum?code=099830&docid=MD20161213143504014&no=3&nil_profile=stockprice&nil_menu=b019

External links


  This article uses material from the Wikipedia page available here. It is released under the Creative Commons Attribution-Share-Alike License 3.0.

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