JioSaavn to create South Asia’s largest music platform
Saavn Media Private Limited, a subsidiary of Reliance Industries Limited (“RIL”), today launched JioSaavn, South Asia’s largest streaming, entertainment and artist platform. JioSaavn represents the official integration of JioMusic, India’s most popular music app, and Saavn, India’s leading global over-the-top platform. The new integrated JioSaavn app will be available across all App Stores including the Jio app store, on JioPhone, as well as, at www.jio.com/jiosaavn.
As announced in March 2018 at the time of acquisition of Saavn by Reliance Industries Ltd, the implied valuation of the combined entity at over US$1 billion makes it the most valuable music streaming platform in South Asia, and among the most popular in the world.
JioSaavn combines the streaming media expertise of Saavn with Jio’s digital services ecosystem. Jio is India’s largest digital services network with over 252 million subscribers. The integrated app has a massive addressable market opportunity both in India as well as for the Indian diaspora.
With the integrated JioSaavn app, users can expect a suite of new in-app products and music experiences, including an interactive lyrics feature, localized vernacular display, custom integrations with concerts and live events, as well as exclusive video content to roll out over the next few months.
With a catalog of more than 45 million songs and award-winning original content, JioSaavn brings users a wide-ranging audio experience
The service will be offered on a freemium model in India with all users having access to the ad-supported product. Jio subscribers would enjoy seamless access to the integrated app. Additionally, as part of this launch, Jio users will also get a 90-day extended free trial of JioSaavn Pro, the streaming service’s premium product.
The Saavn co-founders – Rishi Malhotra, Paramdeep Singh and Vinodh Bhat – continue in their leadership roles to drive the growth of the company. JioSaavn’s team of more than 200 employees also continues to operate out of its five global offices at Mountain View and New York in the United States and Bengaluru, Gurugram, and Mumbai in India.
Founded in 2007 as Saavn, JioSaavn is South Asia’s largest digital music streaming service, transforming how people around the world access and experience music on a daily basis. JioSaavn is currently accessed across the globe and offers 40 million tracks in 15 languages. The company has 900+ label partnerships and growing, including Universal, Sony, T-Series, Tips, YRF, Saregama, Eros and Warner Music.
For more information, visit www.jio.com/jiosaavn.
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