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Saavn Media, a unit of Reliance Industries, unveiled South Asia's largest streaming, entertainment and artist platform, JioSaavn, marking the official integration of JioMusic and over-the-top platform Saavn.
"The new integrated JioSaavn app will be available across all app stores including the Jio app store, on JioPhone, as well as on jio’s website," the company said in a statement.
The new JioSaavn app, will bring a suite of in-app products and music experiences, including an interactive lyrics feature, localised vernacular display, custom integrations with concerts and live events, and exclusive video content over the next few months.
"As announced in March 2018 at the time of acquisition of Saavn by Reliance Industries, the implied valuation of the combined entity at over $1 billion makes it the most valuable music streaming platform in South Asia," the statement added.
JioSaavn aims to combine the streaming media expertise of Saavn with Jio's digital services ecosystem with a catalog of over 45 million songs and original content.
The integrated app is eyeing a "massive addressable market opportunity" both in India as well as the Indian diaspora, it added. The service will be offered on a 'freemium' model in India with all users having access to the ad-supported product.
Jio subscribers - over 252 million at the last count - would have an access to the integrated app. As part of the launch, Jio users will also get a 90-day extended free trial of JioSaavn Pro, the streaming service's premium product, the statement added.
The Saavn co-founders Rishi Malhotra, Paramdeep Singh and Vinodh Bhat continue in their leadership roles to fuel the growth of the company. JioSaavn's team of over 200 employees also continue to operate from five global offices at Mountain View and New York in the United States, and Bengaluru, Gurugram and Mumbai in India.
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