Telecom giant, Reliance Jio is one of the biggest Telecom operators in the country. After the success of Jio in telecom industry, the company wants to help the small and upcoming artists of the Indian music Industry. Especially small indie music artists. To achieve such a high goal the company has partnered with Saavn. The partnership aim to create worlds largest platform for music, media and artists.
What does this partnership mean for Jio?
The partnership deal will include the merger of Jio music and Saavn to make one of the worlds biggest music platform ever. The company in a press statement said, that the partnership will be aimed at driving the growth of all combined. Also, the partnership is valued over $1 billion. In this $1 billion, Jio music was valued over $670 million. In addition to that, the Reliance industries will be investing more than $100 Million in combined in assests towards the growth of the platform. The company also commented out that the Saavn founders will be driving the growth. As per the company, the combined business will develop into a media platform of the future. The platform will provide global reach, cross-border original content. Along that it will also provide an independent artist marketplace, consolidated data. This will also be one of the largest mobile advertising mediums.
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What does this decison by Jio mean for artists?
This will help the consumers of media as well as the small and big artists. This will give the artists a platform to show off their work. It will be the first dedicated platform for this purpose only. With a big ecosystem of the Reliance Industries and this platform, this will be the biggest media revelation on the country.
"The investment and combination of our music assets with Saavn underlines our commitment to further boost the digital ecosystem and provide unlimited digital entertainment services to consumers over a strong uninterrupted network. We are delighted to announce this partnership with Saavn, and believe that their highly experienced management team will be instrumental in expanding Jio-Saavn to an extensive user base, thereby strengthening our leadership position in the Indian streaming market."
-akash Ambani, Director of reliance Jio
Wether this partnership will help the small artists of not only time will tell. However, if the platform achieves its goal, it will be a truly interesting moment to watch.
