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Genie Music

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Genie Music Corporation
Native name
주식회사 지니뮤직
Company typePublic joint-stock company
KRX: 043610
Industrycontents (music)
PredecessorBlue Cord Technology Co., Ltd.
(as a division)
FoundedFebruary 7, 1991
Headquarters
Yeongdong-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
OwnerKT Corporation (42.49%)
LG Uplus (15%)
SM-YG-JYP Consortium (7.12%)[2][3][4]
ParentKT Corporation
WebsiteGENIEMUSIC.co.kr/

Genie Music (stylized as GENIE MUSIC, Hangul: 지니뮤직), a subsidiary of KT Corporation, is a South Korean company that specializes in the production and distribution of music content.

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,[2] the company changed its name to Genie Music on March 2017.[13]

Assets

Distribution Network

Present

Former

References

  1. ^ Genie Music appoints Kim Hoon-bae as new CEO (Park Soo-hyeong, ZDNet Korea, 2017-6-23)
  2. ^ a b LG Uplus invests in KT Music... "Strengthening the competitiveness of music platform" (Shin Min-kwan, The Chosun Ilbo, 2017-3-15)
  3. ^ Seven companies - including SM, YG, JYP - become KT Music stakeholders (Cho Seung-hoon, Gaon Music Chart, 2014-1-24)
  4. ^ KT Music CB conversion completed: SM, YG, JYP are major shareholders (Park Won-ik, The Chosun Ilbo, 2014-1-23)
  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-strengthened KT Music becomes "Genie Music" (Kwang Yong-min, Seoul Economic Daily via Naver News, 2017-3-31)
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