Genie Music, a leading exporter of K-pop content in South Korea, has seen significant growth in overseas sales over the past five years, with an average increase of 62% per year.
The company supplies K-pop music to over 50 platforms in 95 countries worldwide, including the United States, Europe, and Southeast Asian countries.
It has direct distribution agreements with Tidal in the U.S. and Anghamil in the Middle East.
In 2021, it signed an agreement with Tencent Music and Huawei for the Chinese market.
Last year, the company expanded its exports by signing an agreement for a streaming service and music distribution in China with TilTok, a platform with over 1 billion users worldwide.
The company’s global music distribution revenue was KRW 3.5 billion in 2018 and is expected to increase sevenfold to KRW 24.1 billion by 2021, reaching KRW 21.4 billion in Q3 2022, up 21.7% year-on-year.