KT rebrands Olleh TV as Genie TV to transform into media portal

South Korea’s telecom giant KT Corp. is rebranding its IPTV service Olleh TV as Genie TV as part of its efforts to transform into a media portal.

KT has been grouping its media and entertainment content-related affiliates under the Genie brand, including KT Studio Genie, the telecom company’s content production subsidiary, and Genie Music, a music content producer and distributor.

Company executives said on Tuesday its latest move is designed to turn its internet protocol TV service into an artificial intelligence (AI)-based media portal to better compete with Korean and foreign rivals, including over-the-top (OTT) service providers such as Netflix and Disney+.

“At the center of KT’s media ecosystem is Genie TV. Our subscribers will be able to enjoy various kinds of entertainment content on a single media portal,” Kang Kook-hyun, head of KT’s customer business group, said at a press conference.

KT launched its IPTV service Olleh TV in 2011.

USER INTERFACE OVERHAUL

The company said it will overhaul the user interface of Genie TV with new features to enhance access to video streaming services offered by its rivals, including YouTube and Netflix, as well.

Content from local rival TVing, the OTT streaming platform run by CJ ENM Co., will also be available on Genie TV from early next year, it said.

KT said Genie TV's menu will consist of five categories: movies, drama and video on demand (VOD); live channels; Kids Land, a kids program; Genie Apps; and OTT services.

KT has been beefing up its efforts to transform into a media platform giant.

In April, the company unveiled an ambitious goal to become the country’s top media and content group by strengthening its media value chain with projected annual content sales of $4.1 billion by 2025.

Earlier in July, KT said it will merge its mobile-oriented platform Seezn with CJ’s TVing to compete with global OTTs.

The merger comes as Korea is rapidly emerging as a battleground for domestic and global OTT players to secure content as locally produced TV series and dramas have become global hits.

Write to Seung-Woo Lee at leeswoo@hankyung.com
In-Soo Nam edited this article.