In March 2018, MBW reported that Saavn was merging with rival service JioMusic in a deal that values the newly-combined platform at over $1 billion.
The move was masterminded by Reliance Industries Limited (RIL) – one of India’s largest private corporations which boasts an annual turnover of more than $50bn.
Now JioMusic is reportedly rebranding as JioSaavn.
The news of the rebranding was initially reported by Telecom Talk, which says that some users are getting a free 90-day subscription to Saavn when they log with their Jio mobile numbers.
The report also speculates that Saavn’s entire catalog will soon be made available on JioSaavn.
As part of the deal back in March, RIL acquired a partial stake in Saavn for $104m.
“Our alignment with Reliance enables us to create one of the largest, fastest-growing, and most capable media platforms in the world.”
Rishi Malhotra, Saavn, speaking in MArch
Speaking at the time, Rishi Malhotra, Co-Founder and CEO at Saavn, said: “Nearly 10 years ago, we had a 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 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.”
Founded in 2007, Saavn offers 36 million tracks in 15 languages and boasts 22 million unique monthly active users.
The service offers both an ad-supported and Premium (‘Saavn Pro’) tier in India, and the premium service in many more markets worldwide.Music Business Worldwide
