Mumbai: Saavn Media Private Limited, a subsidiary of Reliance Industries Limited (RIL) today launched JioSaavn, a streaming, entertainment and artist platform.
JioSaavn is the official integration of JioMusic, Reliance Jio’s music app, and Saavn, a global over-the-top platform. In a press statement, RIL said that 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.
This March, RIL had acquired Saavn. The implied valuation of the combined entity is at over $1 billion. “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," added RIL.
The service will be offered on a freemium model in India with all users having access to the ad-supported product. Jio subscribers would be able to avail of 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.
“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," said Akash Ambani, Director, Reliance Jio.
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.