JioMusic, Saavn merge to create South Asia's largest music platform
Music streaming platform Saavn, now a subsidiary of Reliance Industries Limited (RIL), on Tuesday launched JioSaavn , which according to the company is South Asia’s largest streaming, entertainment and artist platform. JioSaavn represents the official integration of JioMusic and Saavn , and the new JioSaavn app will be available across app stores like Jio app store, JioPhone, and www.jio.com/jiosaavn. RIL had in March this year acquired Saavn and announced at the time that the implied valuation of the combined entity, at over $1 billion, made it the most valuable music streaming platform in South Asia, and among the most popular in the world. Telecom and data company Reliance Jio Infocomm is part of the RIL group and is India’s largest digital services network with over 252 million subscribers. The integrated music app has a massive addressable market opportunity both in India as well as for the Indian diaspora, according to the company. Read More Business Stand