Genie Music
{{Short description|South Korean company}}
{{Distinguish|Genie Records}}
{{More citations needed|date=August 2021}}
{{Infobox company
| name = Genie Music Corporation
| native_name = 주식회사 지니뮤직
| native_name_lang = ko
| romanized_name =
| logo = GENIE MUSIC Logo.png
| type = Public
| traded_as = {{Korea Exchange|043610}}
| genre =
| predecessor = Blue Cord Technology Co., Ltd.
(as a division)
| foundation = {{sda|1991|02|07}}
| founder =
| location_city = 6th - 8th floors L7 Hotels Gangnam Tower, 415 Teheran-ro, Samseong-dong, Gangnam-gu, Seoul
| location_country = South Korea
| origins =
| key_people = Kim Hoon-bae (CEO)[https://www.zdnet.co.kr/news/news_view.asp?artice_id=20170623170640 Genie Music appoints Kim Hoon-bae as new CEO] {{Webarchive|url=https://web.archive.org/web/20170623120553/https://www.zdnet.co.kr/news/news_view.asp?artice_id=20170623170640 |date=2017-06-23 }} (Park Soo-hyeong, ZDNet Korea, 2017-6-23)
| area_served = worldwide
| products = music albums, online services
| services = production, distribution
| revenue =
| operating_income =
| net_income =
| num_employees =
| parent = KT Corporation
| divisions =
| subsid = {{illm|Millie's Library|ko|밀리의 서재}}
| owner = KT StudioGenie: 35.97%[https://www.koreatimes.co.kr/www/tech/2018/10/133_256703.html Genie Music poses threat to Melon by acquiring CJ Digital Music] {{Webarchive|url=https://web.archive.org/web/20181023200200/https://www.koreatimes.co.kr/www/tech/2018/10/133_256703.html |date=2018-10-23 }} (Jun Ji-hye, The Korea Times, 2018-10-09){{cite web|url=https://www.nbntv.co.kr/news/articleView.html?idxno=982752|title=[특징주] 지니뮤직, '우영우' 훈풍에 주가 움직인다 'KT스튜디오지니 자회사'|trans-title=[Features] Genie Music, 'Woo Young-Woo' stock price moves on warm wind 'KT StudioGenie subsidiary'|lang=ko|date=July 15, 2022|accessdate=July 15, 2022|first=Kim|last=Ha-neul|website=NBN TV|archive-date=July 15, 2022|archive-url=https://web.archive.org/web/20220715014454/https://www.nbntv.co.kr/news/articleView.html?idxno=982752|url-status=live}}
CJ ENM: 15.35%
LG U+: 12.70%
| homepage = {{URL|http://www.geniemusic.co.kr/|GENIEMUSIC.co.kr/}}
| dissolved =
| footnotes =
}}
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.{{cite news |author1=Sohn Ji-young |title=Kakao's Melon app dominates Korea's music streaming service market |url=http://www.koreaherald.com/view.php?ud=20180417000665 |work=The Korea Herald |date=April 17, 2018 |access-date=November 11, 2018 |archive-date=August 6, 2018 |archive-url=https://web.archive.org/web/20180806033428/http://www.koreaherald.com/view.php?ud=20180417000665 |url-status=live }}{{cite news |author1=Son Ji-hyoung |title=[Kosdaq Star] Genie Music garners investor attention on anticipated M&A |url=http://www.koreaherald.com/view.php?ud=20180624000199 |access-date=November 11, 2018 |work=The Korea Herald |date=June 24, 2018 |archive-date=November 10, 2018 |archive-url=https://web.archive.org/web/20181110114139/http://www.koreaherald.com/view.php?ud=20180624000199 |url-status=live }}
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.{{Cite web |url=http://www.ktmusic.co.kr/company/history.html |title=KT Music History |access-date=2015-11-23 |archive-date=2016-12-28 |archive-url=https://web.archive.org/web/20161228032313/http://www.ktmusic.co.kr/company/history.html |url-status=live }}{{Cite web |url=http://www.bluecord.co.kr/inc_html/index.html?sub=1&s_code=1 |title=Blue Cord Technology History |access-date=2015-11-23 |archive-date=2017-08-27 |archive-url=https://web.archive.org/web/20170827170910/http://www.bluecord.co.kr/inc_html/index.html?sub=1&s_code=1 |url-status=dead }}{{Cite web |url=http://www.drmcd.com/sub_07/sub07_03.htm |title=Doremi Media History |access-date=2015-11-23 |archive-url=https://web.archive.org/web/20150814043902/http://www.drmcd.com/sub_07/sub07_03.htm |archive-date=2015-08-14 |url-status=dead }}[http://www.iusm.co.kr/news/articleView.html?idxno=406886 KTF acquires Blue Cord] {{Webarchive|url=https://web.archive.org/web/20170827173750/http://www.iusm.co.kr/news/articleView.html?idxno=406886 |date=2017-08-27 }} (Nam Seung-bong, Ulsan Daily Newspaper, 2007-11-14)[http://www.nextdaily.co.kr/news/article.html?id=20080328800091&m=1 Blue Cord changes name to KTF Music] {{Webarchive|url=https://web.archive.org/web/20170827173629/http://www.nextdaily.co.kr/news/article.html?id=20080328800091&m=1 |date=2017-08-27 }} (Lee Soo-eun, NextDaily, 2008-3-28)[http://www.dt.co.kr/contents.html?article_no=2008032802010531727002 Blue Cord renames as KTF Music] {{Webarchive|url=https://web.archive.org/web/20170827180544/http://www.dt.co.kr/contents.html?article_no=2008032802010531727002 |date=2017-08-27 }} (Dorothy H.W. Sim, DigitalTimes, 2008-3-28)[http://www.zdnet.co.kr/news/news_view.asp?artice_id=20121102085832 KT acquires KMP Holdings "for music competitiveness"] {{Webarchive|url=https://web.archive.org/web/20180614194419/http://www.zdnet.co.kr/news/news_view.asp?artice_id=20121102085832 |date=2018-06-14 }} (Jung Yoon-hee, ZDNet Korea, 2012-11-2)[http://www.asiae.co.kr/news/view.htm?idxno=2013030810062912577 Effects of KT Music's acquisition of KMP Holdings on the "Big Three"] {{Webarchive|url=https://web.archive.org/web/20170827171827/http://www.asiae.co.kr/news/view.htm?idxno=2013030810062912577 |date=2017-08-27 }} (Choi Jung-soo, The Asia Economy Daily, 2013-3-8)
Following the investment of LG Uplus, the company changed its name to Genie Music in March 2017.[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"] {{Webarchive|url=https://web.archive.org/web/20170809213030/http://biz.chosun.com/site/data/html_dir/2017/03/15/2017031502746.html |date=2017-08-09 }} (Shin Min-kwan, The Chosun Ilbo, 2017-3-15){{cite web|author1=Song Su-hyun|title=KT, LG Uplus join hands on home IoT, AI services|url=http://www.koreaherald.com/view.php?ud=20170315000917|website=The Korea Herald|access-date=January 31, 2018|date=March 15, 2017|archive-date=January 31, 2018|archive-url=https://web.archive.org/web/20180131200648/http://www.koreaherald.com/view.php?ud=20170315000917|url-status=live}}
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
- [http://www.genie.co.kr/ Genie] (online music service)
- [http://shop.genie.co.kr/main Shop&Genie] {{Webarchive|url=https://web.archive.org/web/20151124044020/http://shop.genie.co.kr/main |date=2015-11-24 }} (music service for stores and other businesses)
Distribution Network
=Present=
==Domestic==
- 143 Entertainment
- Biscuit Entertainment
- GBK Entertainment
- Hybe Corporation
- Belift Lab
- Star Empire Entertainment
- Signal Entertainment Group{{Cite web |url=http://finance.daum.net/item/newsview.daum?code=099830&docid=MD20161213143504014&no=3&nil_profile=stockprice&nil_menu=b019 |title=Daum 원하시는 페이지를 찾을 수가 없습니다 |access-date=2018-08-06 |archive-date=2018-08-06 |archive-url=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 |url-status=live }}
- 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)
- KQ Entertainment (until 2024, now with Sony Music Entertainment Korea and Kakao Entertainment)
- Lion Media (defunct)
- 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 Kakao Entertainment)
- J Storm (until 2018, now with Sony Music Entertainment Korea and Kakao Entertainment)
References
{{reflist}}
External links
- {{official website|http://www.geniemusic.co.kr/}} {{in lang|ko}}
{{KT}}
{{K-pop}}
{{Authority control}}
Category:Companies listed on KOSDAQ
Category:Record label distributors
Category:South Korean record labels