Currently, JioSaavn has over 100 million monthly active users (MAU) with audiences across 150 countries. It offers more than 50 million tracks in 15 regional languages which include Hindi, Tamil, Telugu, Punjabi, and Gujarati among others.
Early this year, the music streaming app had secured 1st position in Fast Company’s list of top 10 Indian firms in Most Innovative Company on a country basis.
JioSaavn had also grabbed the eyeballs for being the only Indian company that was ranked 28th and managed to find a position in the top 50 most innovative companies across the globe.
Before the merging with Jio Music, Saavn had scooped up $100 million in a round led by Tiger Global Management in 2015. Having an estimated $9.2 million annual revenue, JioSaavn counts Gaana, Hungama, Wynk, Amazon, and new entrants Spotify and YouTube Music as competitors.
Jio New Revenue Model – Advertisement in Jiosaavn Music App
But now the fact is that have you ever notice guys that In JioSaavn there are suddenly start advertisement and If you want Advertisement free app you have to get premium services of Jio Saavan App.
Guys due to the pandemic of coronavirus, Every industry of the world id affected rather it is travel, Airline, agriculture, architecture, film industry, healthcare, manufacturing or something else
but the fact is the some of them have a positive impact coz such services are including in essential services and others have a major impact and even almost reputated companies also suffer from financial crises.
As we know Reliance Industry’s owner Mr. Mukesh Ambani is one of the richest man of our country and due to coronavirus this man also suffer from huge financial loss. So, coronavirus is a disease which affects all business model.
As per Times of India newspaper Delhi, Reliance Ltd also announces to pay its employees only a 50% salary for the next few months.
Jio networking company is also run by Reliance Ltd which is in demand in these coronavirus times but now the question arises that how Jio can earn much more during this lockdown condition so let us introduce Jio company’s new revenue model ”Jio Saavn” Yes this is one of the great sources at this time as Jio Saavn is a music app.
Music streaming platform JioSaavn has raised Rs 140.35 crores from its parent entity Reliance Industries.
The investment has come one year after RIL had acquired the Saavn music app and merged it with its music streaming product JioMusic. The merged entities turned into a Unicorn with a $1 billion valuation in March 2018.
In fact, Facebook buys a 9.99% stake in Reliance Jio for Rs 43,574 crore. This is to be considered as one of the largest deals of India’s technology sector.
In May 2020, JiSaavn also starts advertising in there app and If you want to listen Ad-free then you have to do for the premium version of Jiosaavn App.
Jio company decided to do this due to the lockdown for coronavirus pandemic as there are so many companies who already declared insolvent and some big brands also facing major losses which are almost unbearable in future in fact if we talk about RIL (Reliance Industry Limited) this company also facing financial crises at this time.
Conclusion: So, Jiosaavn starts their advertisement as there another successful revenue model in May 2020 ad start earing during lockdown for coronavirus pandemic. So, at last we can say Stay Quarantine but Stay Updated!