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.[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.
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]
^Ha-neul, Kim (July 15, 2022).
"[특징주] 지니뮤직, '우영우' 훈풍에 주가 움직인다 'KT스튜디오지니 자회사'" [[Features] Genie Music, 'Woo Young-Woo' stock price moves on warm wind 'KT StudioGenie subsidiary']. NBN TV (in Korean).
Archived from the original on July 15, 2022. Retrieved July 15, 2022.