SEOUL, South Korea, Dec. 12, 2019 /PRNewswire/ -- Genie Music Corp., a music subsidiary of KT Corp. (KRX: 030200; NYSE: KT), has introduced the first immersive music service in the world, Virtual Play (VP), with a K-pop album.
Targeting K-pop fans around the world, the new five-track album features the hottest hits from Korean girl group Mamamoo, including "Decalcomanie" and "Gogobebe," which can be played in first-person ultra-high-definition (UHD) through 360-degree 3D-8K Virtual Reality (VR) technology.
Virtual Play is Genie Music's latest music service, combining music with KT's cutting-edge information and communications technologies (ICTs), including VR, augmented reality (AR) and holograms. The service is based on the world's first nationwide commercial 5G network, which was launched by the Korean telecom leader in April.
"Innovation in music players is changing the many ways in which people can appreciate music," said Genie Music's CEO Cho Hoon. "Virtual Play, the first of its kind in the world, will delight global K-pop fans with immersive audiovisual music that can be enjoyed anytime, anywhere, unlike LPs and CDs."
Genie Music has three key strategies to build an immersive content ecosystem over the next five years: create a new market in cooperation with K-pop production companies; refine 5G-based immersive music services; and diversify VP business models that target global K-pop fandom. The company will strengthen cooperation with its shareholders KT, LG U⁺ and also CJ ENM, the strongest content powerhouse in the country.
Mamamoo's VP album consists of application-type immersive content, head mount display (HMD), SD memory card and the artists' photo book. It offers 1.5 million pixel resolution, which is five times more vivid than previous VR content, 290,000 pixels.
The video provides 360-degree views extending 180 degrees up and down, whereas previous content displayed VR images within 180 degrees on the front side. Viewers can make eye contact with each member of the group performing within arm's reach and also watch their performance from behind.
Genie Music is also pushing ahead with development of real-time VR video stitching technology with ALPHACIRCLE Inc. This will enable the company to provide 5G-based, real-time streaming service of immersive VP music from K-pop concerts and music festivals.
As K-pop fandom spreads worldwide, Genie Music expects there will be greater demand of immersive content service beyond time and space. The global VR market will approximately amount to US$15 billion (around 119 trillion won) in 2022, according to the Korea Institute of S&T Evaluation and Planning (KISTEP).
In the third quarter of 2019, Genie Music's total sales reached 169.4 billion won, owing to its upgrades in music content and expansion in the AI streaming market with ultra-connectivity. Operating profit was 6.1 billion won.. The company is taking a lead role in the evolution of music service as the only streaming service provider of 5G-based, 24bit Free Lossless Audio Codec (FLAC) music in South Korea.
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ABOUT KT CORPORATION (KRX: 030200; NYSE: KT)
KT Corporation, Korea's largest telecommunications service provider, reestablished in 1981 under the Telecommunications Business Act, is leading the era of innovations in the world's most connected country. The company is leading the 4th industrial revolution with high speed wire/wireless network and new ICT technology. KT launched the world's first nationwide commercial 5G network on April 3, 2019, after successfully showcasing the world's first trial 5G services at the PyeongChang Winter Olympic Games in February 2018. This is another milestone in KT's continuous efforts to deliver essential products and services as it aspires to be the number one ICT Company and People's Company.
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