Jio and Saavn has done a collaboration to provide their customers a better collection of songs. This collaboration will be a great opportunity for independent artists to showcase their talent.
Something very big happened in the Indian Music streaming market. Jio Music and Saavn have come up together to build “one of the largest streaming service in India” as quoted by Jio. With Jio Music at an estimated value of $670 million plans to invest another $100 million to facilitate the growth of a larger company.It is being said that the $20 million will be spent upfront for expansion. The merger is said to be complete by June 30.
Reliance while being a bigger company has taken the stake in Saavn worth $104 million although the original Malhotra brothers will still carry on as leaders.
Till now no official name or branding has been made public but we’re hoping for the deal to happen soon. This deal is eventually going to bring a lot of good news for Indian music lovers.
One platform for all the global music.
Access to original content from across the borders.
Platform for independent artists which is surely a good news for all indie music lovers.
One of the largest advertising medium.
Akash Ambani, Director, Reliance Jio, on the strategic transaction, said,
“The investment and combination of our music assets with Saavn underlines our commitment to further boost the digital ecosystem and provide unlimited digital entertainment services to consumers over a strong uninterrupted network. We are delighted to announce this partnership with Saavn, and believe that their highly experienced management team will be instrumental in expanding Jio-Saavn to an extensive user base, thereby strengthening our leadership position in the Indian streaming market.”
Rishi Malhotra, Co-Founder, and CEO at Saavn said,
“Nearly 10 years ago, we had the vision to build a connected music platform, dedicated to South Asian culture across the globe. Vin, Param and I always envisioned the company for the long term with the intense focus on products, data, and ground-breaking original content. Our alignment with Reliance enables us to create one of the largest, fastest-growing, and most capable media platforms in the world.” Paramdeep Singh, Co-Founder and Executive Vice Chairman at Saavn, added “Saavn has been at the forefront of the digital music revolution in India. Our partnership with Reliance reinforces our commitment to the growth of our label partners, the independent artist ecosystem, and the overall music industry globally.”
An additional sum of $100 million will be spent to make the new company possible.
Saavn has rights to almost 36 million songs, it is also responsible for originals like bom Diggy by Zack Knight and Jasmin Walia.
The three co-founders will continue leading the company.
As per Reliance industries, they want to create a brand that has global reach including international original content from across the border.
Jio Music app is an exclusive service by Jio network for all the Jio sim card holders. Jio network is owned by Reliance Telecommunications. The service provides lakhs of songs at your fingertip all you need to do is log in with your Jio sim. Here are some Key features of having Jio Music:
A list of almost 4 lakhs songs to listen from different regional languages including Hindi, Punjabi, Tamil etc along with the international music.
Easy search option to find your favorite music.
You can download and play your favorite music in HD quality.
Based on your mood you can create your own playlist.
Access to live radio.
From light to dark pick a theme of your own choice.
You can set your favorite song as you Jio caller tune
Share your favorite songs with your friends on any social media platform.
Saavn Music App is an international music and audio streaming service. The company offers a variety of music to its global users. It has a collection of over 30 million tracks from all around the world. In over 15 different languages saavn has said that it has an active user base of almost 22 million per month itself in India in the year 2017. Here are some key features of Saavn.
A list of almost 30 million tracks from all around the world including India.
Completely ad-free so without any interruption.
You can download your favorite track and listen to them offline.
Highest quality of 320kbps.
Access up to 5 devices simultaneously.
Get access to original as well as exclusive content.
Playlists for every mood and every occasion.
One touch stations.
Streaming services have certainly made a market in India. Spotify one the largest music streaming service all around the globe is planning to hit the Indian markets so it will be amazing to see the tough battle between the two big companies.