Genie Music Explained

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] [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%.

Assets

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

Distribution Network

Present

Domestic

• 143 Entertainment
• Biscuit Entertainment
• GBK Entertainment
• KQ Entertainment
• MODHAUS
• Vine Entertainment
  • Star Empire Entertainment Signal Entertainment Group^[16]
• Stone Music Entertainment (digital format only; 2018–present)
  • • • • • WakeOne Hi-Lite Records AOMG (with Kakao Entertainment)
      • Amoeba Culture Off The Record Entertainment
  • LM Entertainment
• Happy Face Entertainment (with Kakao Entertainment)
  • HF Music Company
  • Dreamcatcher Company
  • D1CE Company
• Music Factory Entertainment
  • MTN ENTERTAINMENT (with Kakao Entertainment)

Foreign

• • King Records 'You be Cool' division (AKB48)
• ShowBT Entertainment Philippines Corp (2020–present)
  • SB19

Former

Domestic

• Astory Entertainment (2017–2019, now with NHN Bugs)
• J. Tune Camp (defunct)
• Jellyfish Entertainment (2017–2022, now with Kakao Entertainment)
• JYP Entertainment (until 2018, now with Dreamus Company)
• Lion Media
• MBK Entertainment (2013–2014; now with Kakao Entertainment)
• NH Media
• SM Entertainment (until 2018, now with Dreamus Company)
• Source Music (2010–2016; now with Kakao Entertainment and later on YG Plus)
• Stardom Entertainment (defunct)
• Starkim Entertainment
• Swing Entertainment (until 2023; merged into WakeOne)
• WM Entertainment (2017–2021, now with Sony Music)
• 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)

Notes and References

1. https://www.zdnet.co.kr/news/news_view.asp?artice_id=20170623170640 Genie Music appoints Kim Hoon-bae as new CEO
2. https://www.koreatimes.co.kr/www/tech/2018/10/133_256703.html Genie Music poses threat to Melon by acquiring CJ Digital Music
3. Web site: [특징주] 지니뮤직, '우영우' 훈풍에 주가 움직인다 'KT스튜디오지니 자회사']. [Features] Genie Music, 'Woo Young-Woo' stock price moves on warm wind 'KT StudioGenie subsidiary'. ko. July 15, 2022. July 15, 2022. Kim. Ha-neul. NBN TV. July 15, 2022. https://web.archive.org/web/20220715014454/https://www.nbntv.co.kr/news/articleView.html?idxno=982752. live.
4. News: Sohn Ji-young . Kakao's Melon app dominates Korea's music streaming service market . . April 17, 2018 . November 11, 2018 . August 6, 2018 . https://web.archive.org/web/20180806033428/http://www.koreaherald.com/view.php?ud=20180417000665 . live .
5. News: Son Ji-hyoung . [Kosdaq Star] Genie Music garners investor attention on anticipated M&A ]. November 11, 2018 . . June 24, 2018 . November 10, 2018 . https://web.archive.org/web/20181110114139/http://www.koreaherald.com/view.php?ud=20180624000199 . live .
6. Web site: KT Music History . 2015-11-23 . 2016-12-28 . https://web.archive.org/web/20161228032313/http://www.ktmusic.co.kr/company/history.html . live .
7. Web site: Blue Cord Technology History . 2015-11-23 . 2017-08-27 . https://web.archive.org/web/20170827170910/http://www.bluecord.co.kr/inc_html/index.html?sub=1&s_code=1 . dead .
8. Web site: Doremi Media History . 2015-11-23 . https://web.archive.org/web/20150814043902/http://www.drmcd.com/sub_07/sub07_03.htm . 2015-08-14 . dead .
9. http://www.iusm.co.kr/news/articleView.html?idxno=406886 KTF acquires Blue Cord
10. http://www.nextdaily.co.kr/news/article.html?id=20080328800091&m=1 Blue Cord changes name to KTF Music
11. http://www.dt.co.kr/contents.html?article_no=2008032802010531727002 Blue Cord renames as KTF Music
12. http://www.zdnet.co.kr/news/news_view.asp?artice_id=20121102085832 KT acquires KMP Holdings "for music competitiveness"
13. http://www.asiae.co.kr/news/view.htm?idxno=2013030810062912577 Effects of KT Music's acquisition of KMP Holdings on the "Big Three"
14. 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"
15. Web site: Song Su-hyun. KT, LG Uplus join hands on home IoT, AI services. The Korea Herald. January 31, 2018. March 15, 2017. January 31, 2018. https://web.archive.org/web/20180131200648/http://www.koreaherald.com/view.php?ud=20170315000917. live.
16. Web site: Daum 원하시는 페이지를 찾을 수가 없습니다 . 2018-08-06 . 2018-08-06 . https://web.archive.org/web/20180806145829/http://finance.daum.net/item/newsview.daum?code=099830&docid=MD20161213143504014&no=3&nil_profile=stockprice&nil_menu=b019 . live .