[Featured Stock] Genie Music Rises on Tving-Season Merger and Popularity of 'Wooyoungwoo'

[Asia Economy Reporter Lee Myunghwan] Genie Music is showing strength in the market on the morning of the 15th. This is interpreted as being influenced by the merger decision between the online video services (OTT) TVING and Season made the previous day. The recent popularity of the drama "Extraordinary Attorney Woo," co-produced by KT Studio Genie, the intermediate holding company of Genie Music, also seems to be contributing to the stock price increase.

As of 9:50 AM today, Genie Music is trading at 4,935 KRW, up 14.10% (610 KRW) from the previous trading day.

The day before, CJ ENM's OTT service "TVING" announced that it had decided to absorb and merge KT's OTT service "Season." This is the first merger and acquisition (M&A) since TVING's independent launch. Both companies plan to expand their influence not only in the domestic market but also in the global OTT market through comprehensive synergies such as content competitiveness and OTT-telecom integration. This merger was carried out as part of the business cooperation between CJ ENM and KT in the first half of this year.

The recent popularity of the drama "Extraordinary Attorney Woo" also appears to have a positive impact. Despite being aired on a cable channel, the drama, in which KT Studio Genie participated in production, recorded a 9.1% viewership rating by the fifth episode and is aiming for a double-digit rating. It is also enjoying popularity on the global OTT platform Netflix, ranking first in viewing time among non-English dramas.

This content was produced with the assistance of AI translation services.