KT Genie Music Posts 9.1 Billion Won Operating Profit in First Half

KT Genie Music Music CI. Photo by KT Genie Music

On August 12, KT Genie Music announced that it recorded consolidated sales of 142.8 billion won and operating profit of 9.1 billion won in the first half of this year.

In the second quarter, sales reached 73.4 billion won and operating profit was 5.0 billion won, representing increases of 6.0% and 24.5%, respectively, compared to the previous quarter. KT Genie Music stated, "The growth in performance was driven by increased sales of B2B partnership music products and MD (merchandise), as well as expanded sales of B2B2C e-book subscription products by its subsidiary, KT Millie's Library."

KT Genie Music plans to continue its growth in the second half of the year by advancing its AI-based services on the Genie music platform, improving profitability in its performance business, and strengthening collaboration in the virtual IP (intellectual property) business.