Insta
Monarch Of Indian Internet? JioSaavn Launched, Mukesh Ambani Now Owns Biggest Music Streaming Service In South Asia
Swarajya Staff
Dec 04, 2018, 05:07 PM | Updated 05:07 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
With the launch of JioSaavn earlier today (4 December), Mukesh Ambani-controlled Reliance Industries Limited (RIL) has become the largest player in the music streaming market of South Asia, as reported by Financial Express (FE).
This launch comes after Reliance Jio struck a deal to merge Jio Music with the New York-based music-and-artiste platform, Saavn, in March 2018. The combined entity, JioSaavn, has a valuation of $1 billion.
“The integrated business will be developed into a media platform of the future with global reach, cross-border original content, an independent artist marketplace, consolidated data and one of the largest mobile advertising mediums,” a joint company statement noted.
As a launch offer, users can now avail 90-day premium membership plan of the service for free. Such ‘free-for-a-limited-period’ strategy was earlier employed by Reliance Jio as it tried to enter the Indian telecom industry, two years ago.
However, the competition in the Indian music streaming market has intensified. Apart from players like Times Internet’s Gaana, Hungama, Apple Music and Airtel’s Wynk, Spotify has revealed plans to launch its offerings in India. Spotify, the Swedish startup, is currently the world's largest music streaming service.
While Google Play music still has the highest market share among music apps in India, with the metric being the percentage of app installs, it is closely followed by JioSaavn and Gaana Music.
Also Read: Why Jio Is Winning The Telecom War
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Introducing ElectionsHQ + 50 Ground Reports Project
The 2024 elections might seem easy to guess, but there are some important questions that shouldn't be missed.
Do freebies still sway voters? Do people prioritise infrastructure when voting? How will Punjab vote?
The answers to these questions provide great insights into where we, as a country, are headed in the years to come.
Swarajya is starting a project with an aim to do 50 solid ground stories and a smart commentary service on WhatsApp, a one-of-a-kind. We'd love your support during this election season.
Click below to contribute.