Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

JioMusic and Saavn integrate to create 'JioSaavn'

Posted On: 2018-12-04 10:16:48

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.

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.

Speaking on the launch of JioSaavn, 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."

Supported by the resources and connectivity of India's most powerful digital services network, JioSaavn will continue to build on Saavn's groundbreaking Original Programming and artist development platform, Artist Originals (AO). Saavn's Original Programming, which has redefined the development, marketing and distribution of original audio entertainment, produces and exclusively distributes some of India's most popular audio 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."

Paramdeep Singh, Co-Founder and Executive Vice Chairman, JioSaavn added, "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."

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1156.3 as compared to the previous close of Rs. 1168.2. The total number of shares traded during the day was 292260 in over 8019 trades.

The stock hit an intraday high of Rs. 1174 and intraday low of 1148.65. The net turnover during the day was Rs. 338548700.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

MRO-TEK Realty Ltd bags order of Rs. 17.53 crores

RCom requests urgent approval from lenders to release Rs. 260 crore received from IT refunds

The Phosphate Company Ltd Q3 FY19 net profit drops to Rs. 0.90 crore

Anup Malleable Ltd reports net profit of Rs. 0.12 crore in Q3

Technofab Engineering Ltd updates on Q3FY19 results

Tech Mahindra Ltd board approves buy back through tender offer route

Shriram Transport Finance Company approves fund raising of $400 mn

BPCL to raise Rs. 2000 crore

Dr. Reddy's Laboratories announces re-launch of its Buprenorphine and Naloxone Sublingual Film

Grasim to acquire the Chlor-Alkali Business of K.P.R. Industries India Limited for Rs. 253 crore

SCI gives physical delivery of m.v. Tamilnadu

Moody's affirms Yes Bank's ratings, changes outlook to stable from negative

Dynamatic Technologies Limited signs MoU with Joint-Stock Company

Diligent Media Corporation Ltd to suspend Jaipur edition of DNA

Innovative Ideals & Services India Ltd bags new order

TCS the only Top 10 IT services Firm Recognized as a Global Top Employer

ABB CEO meets Maharashtra Chief Minister

EDF Luminus selects HCL to drive digital transformation through cloud migration

McDonald's launches its first restaurant in the holy city of Tirupati

MBL Infra substantially completes proiect

Cyient - BlueBird Joint Venture Launches its New Unmanned Aerial System

NHPC signs MoU with NLC India Ltd

H G Infra Engineering Ltd declared L1 bidder by NHAI for new EPC project

NCLT rejects petition against Omkar Speciality Chemicals Ltd

Radio City Collaborates with Noida Metro Rail Corporation

CRDB Bank leverages Nucleus Software's advanced technology to accelerate growth and improve collections

Varun Beverages Ltd announces Q4 CY2018 results

Strides receives USFDA approval for Ethosuximide Softgel Capsules

Alembic Pharmaceuticals announces USFDA Approval for Acetazolamide ExtendedRelease Capsules, 500 mg

Aarti Industries to supply High Value Specialty Chemical Intermediate for 10 years worth $125 million

Glenmark Pharmaceuticals to Present New Analysis of Pooled Data on Ryaltris™

BHEL appoints Shri Rajesh Sharma as independent director

Linde India Ltd Board recommends Dividend of Rs. 1.50 for 2018

American Public Life Insurance Company Selects Majesco L&A and Group Core Suite

Flagging off of the first batch of tuna long liner cum gillnet fishing vessels from Cochin Shipyard

Vedanta Ltd denies submitting revised bids for Essar Steel

Huhtamaki PPL Ltd posts net profit of Rs. 17.96 crores in Q4

Linde India Ltd reports PAT of Rs. 15.41 crores in Q4

Tulive Developers Limited board to consider buyback proposal on Feb 22, 2019

GreenPro Certification awarded to Ramco Cements' flagship product - RAMCO SUPERGRADE

Duke Offshore Ltd bags contract from Daewoo - Tata Projects JV

Vyapar Industries Ltd board to consider buyback on Feb 22, 2019

Wipro Positioned as a Leading Player in 'Zinnov Zones for Digital Services in Retail - 2018'

Essel Propack receives Inter Corporate Deposit of Rs. 40 crores

Bajaj Finance announces winners of 'EON'

Gartner Cites Newgen Software as a Niche Player in the 2019 Magic Quadrant for Intelligent BPM Suites

Premier Ltd enters into 10 year lease agreement with Global Icon Projects LLP

ABB wins INR 270 crore order for train technologies from Indian Railways

Nucleus Software's FinnOne Neo Cloud wins the 'Best Cloud Lending Solution' award

HIL Ltd commences commercial production of dry mix plant at Jhajjar, UP







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019