CJ ENM buys stake in POZAlabs, Korean music-tech start-up

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CJ ENM buys stake in POZAlabs, Korean music-tech start-up

CJ ENM acquired an unspecified stake in POZAlabs, a local tech start-up specializing in artificial intelligence (AI) music composing, the company said Monday.
The amount and the stake were not revealed, but the deal leaves CJ ENM as the second-largest shareholder following Huh Won-gil, CEO of POZAlabs.
Founded in 2018, POZAlabs has developed a music composing algorithm that creates music according to desired mood, instrument, style and environment. Rather than competing with human composers, the company aims to help human composers maximize their efficiency.
The company recently started viodio, a subscription service named, where users can get unlimited access to copyright-free music for 12,900 won ($9) for individuals and 39,900 won for corporate users.
CJ ENM will use POZAlabs music in producing its TV programs and other video content. It will be expanded to future projects such as metaverse content, according to CJ ENM.
“We will continue our strategic investments in companies with technologies to adapt to the fast-changing digital content market,” the company said in a press release.
CJ ENM has been expanding its investment in tech companies. It bought a “small stake” in U.S. metaverse tech company Hyperreal last May and AmazeVR, a U.S. virtual reality concert platform last September.  

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]
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