While I still remember the huge fight I had with my roommate over this music streaming app Saavn, I am extremely happy to break this news to those of you who don’t already know about this. One of the earliest music streaming apps in India – Saavn (which is also called India’s Spotify) has managed to raise $100 million funding this year. This means huge Rs. 635 crores.
Saavn was founded in 2007 by Rishi Malhotra (CEO), Vinodh Bhat (President) and Paramdeep Singh (Executive Chairman). It is a digital distributor of Bollywood, English and Indian music in more than 200 countries serving worldwide with its headquarter in New York, United States.
With the slogan “No Work, All Play” (Read it again), the company provides web and mobile music streaming services. It is now looking forward to introduce video streaming services as well. The service is available in a number of Indian languages ( apart from the obvious one – English) like hindi, Tamil, Telugu, Marathi, Punjabi, Gujarati etc.
The services provided by this music streaming app Saavn include Saavn Pro, Saavn.com, Saavn Music for iPhone, Saavn Radio and Saavn Music for Android.
The service has 14 million active users and is growing at 1 million users per month. Wow!
Revenue Model And Partnerships
Saavn works on an ad-supported freemium business model. Saavn provides ad free offline streaming through Saavn Pro.
The most notable partnerships of this company are with a media engagement company named Shazam and Twitter. Through the partnership with Shazam, Saavn was able to provide an enhanced music experience to its customers through Shazam’s music engagement tools. With Twitter, Saavn introduced its radio model that allowed crowd sourcing song requests via twitter.
Apart from these, Saavn has also partnered with giants like Facebook and Sony. It also has partnerships with music lables like Aditya, Tips, Yash Raj, Universal Warner and T-Series.
What to Expect next from Saavn?
According to various news sources, the team is inclined to use the capital for aggressive customer acquisition (those who watch T.V. would have already seen the signs), long-term product development, growing sales force and on new content deals.
The company also plans to make major updates to its Android App which sounds a wise move for number of android users is booming day by day. The expected new features are support for more languages, one-click play and infinite scroll. The app will also be launched on Windows platform by August 2015.
The service is expecting to grow to 20 million users by the end of this year but with competitors like gaana, Hungama, Apple Music and Wynk , it won’t be easy. Wouldn’t it be interesting to see how the team handles all of this? What do you think?
Recommended Read: this is an interview with one of the co-founders of the company. Though it was posted in 2012, I think a lot of content in this post is valid and useful. Check it out! Saavn’s Success Story