[THE INVESTOR] Genie Music will gain momentum as an over-the-top music platform, said KB Investment and Securities on Dec. 20.
It is the second-largest streaming music service provider in Korea and has merged with CJ Digital Music to form a value chain of contents, platform and network. The company plans to utilize CJ ENM’s strong contents and leverage in the music industry and number of subscribers in B2B and B2C will increase. It has topped B2B music distribution market share and has taken charge of distributing soundtracks for CJ ENM’s dramas and music contents, said analyst Im Sang-guk.
It can also make use the platform and technology of KT, a major shareholder, and create novel contents based on holograms, virtual reality and augmented reality. Collaboration of artificial intelligence speaker and car infotainment business, for example, can be its next growth momentum, he added.
By Hwang You-mee (firstname.lastname@example.org)