Saavn Media Private Limited, a subsidiary of Reliance Industries Limited, has launched JioSaavn.
It was back in March 2018 that Saavn was acquired by Reliance Industries Limited. The two have merged JioMusic and Saavn, with the brand name JioSaavn. 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.
The service will be available as a freemium model n India, with users having access to the ad-supported product. Jio subscribers will enjoy ad-free access. As a part of the launch, Jio users will get a 90-day extended free trial of JioSaavn Pro, the streaming service’s premium product.
Akash Ambani, Director, Reliance Jio said, “JioSaavn represents a turning point for the music streaming industry in India, as the country continues to experience accelerated tech innovation, rapid adoption of digital services, and a digital music industry at par with global leaders. Powered by Jio’s advanced digital services infrastructure and complemented by its widespread user base, JioSaavn will be the largest streaming platform in India.”
JioSaavn will also continue to invest in original content, including some popular podcasts like‘#NoFilterNeha‘, ‘Thank You For Sharing’, ‘Take 2 with Anupama and Rajeev’, ‘Talking Music’ and ‘Kahaani Express with Neelesh Misra’.
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.
Rishi Malhotra, Co-Founder and CEO, JioSaavn, stated, “Since announcing our merger in March 2018, the Jio and Saavn teams have been working to integrate and reimagine a combined platform in JioSaavn. Today, we have one of the most personalized and capable media platforms in the world, an unmatched content catalog, regionalized editorial and original programming and music that’s redefining how artists and creators connect directly with audiences worldwide.”
“The launch of JioSaavn marks a new era for music streaming in India and, the global music industry at large. Combining the scale and quality of the Jio network with our highly engaged product experience, JioSaavn is positioned for a steep growth trajectory that will benefit the entire ecosystem of label partners, brand advertisers, and independent artists to bring content, commerce and culture together,” says Paramdeep Singh, Co-Founder and Executive Vice Chairman, JioSaavn.