KT-Genie Music-Millieosuhjae Join Forces for 'AI Audio' Business

(From left) Jo Hoon, CEO of Genie Music; Song Jae-ho, Head of KT AI/DX Convergence Division; Seo Young-taek, CEO of Millie's Library, posing for a commemorative photo after the signing ceremony.

[Asia Economy Reporter Eunmo Koo] KT announced on the 20th that it has signed an agreement for business cooperation on an artificial intelligence (AI) audio content platform with Genie Music and Millie's Library.

At the signing ceremony, Song Jae-ho, Head of KT AI·DX Convergence Business Division, Cho Hoon, CEO of Genie Music, and Seo Young-taek, CEO of Millie's Library, attended.

Based on this business cooperation, the three companies plan to jointly promote ▲ business development and commercialization ▲ production and market activation ▲ promotion and marketing related to the AI audio content platform business.

KT will develop AI audio content and platforms by utilizing its own AI audio technologies such as deep learning speech synthesis (P-TTS) and E2E speech recognition.

Genie Music will distribute AI audio content produced with KT’s technology through ‘Genie’ and also pursue new service discovery. In September, Genie Music acquired a 38.6% stake in Millie's Library for the AI audio platform business and plans to launch bundled products that allow users to enjoy both Genie and Millie's Library together.

Millie's Library will discover books and secure rights for AI audio content production. Additionally, it plans to improve the quality and expand services of the AI audiobooks it has been providing by utilizing KT’s AI technology. The pilot service of AI audiobooks, cooperatively developed by the three companies, is scheduled to be launched within this year using the Genie Music platform.

Song Jae-ho, Head of KT AI/DX Convergence Business Division, said, “KT will actively challenge itself together with Genie Music and Millie's Library to combine AI audio technology with various content to inspire customers' lives.”

Cho Hoon, CEO of Genie Music, stated, “We will expand the consumption paradigm from music to audio content through the advancement of AI audio platform services.”