Reliance Industries has executed definitive agreements for combination of Saavn, a leading global music OTT platform, with its digital music service, JioMusic. The combined entity is valued at over $1 billion, with JioMusic’s implied valuation at $ 670 million.
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.
Reliance Jio to merge JioMusic with Saavn, invest $100 mn in expansion of combined entity
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.
Reliance Jio to merge JioMusic with Saavn, invest $100 mn in expansion of combined entity