JioSaavn Business Model
Today we are going to discuss JioSaavn Business Model in this blog I am very much sure if you are born in 90’s you may recall the time when you have to store music in the mobile itself and create favorite playlists which occupy.
a major portion of phones memory so you are limited to listen to songs as a solution for that many Music streaming companies have come into existence like Gaana.com,Vynk.com and JioSaavn Business Model etc.
If you are a music lover and a fan of Bollywood music then you must have used JioSaavn App once on your mobile or even on the web do you know? it is the first music and audio streaming distributor of Indian and western songs all over the world the USP of this application is that it provides original songs in 77 international languages and 15 regional like Hindi, Marathi, Bengali, Punjabi and other etc it was founded by Rishi Malhotra, Paramdeep Singh, and Vinodh Bhat in the year 2007.
With the mid of 2009 it launched its official website jiosaavn.com in which they provided customers a faster and user friendly interface and become a B2B business offering service at present it is the biggest music distributor in the world itself these three believe that competition is the need of the business and every business must conduct it with the ongoing competition .
JioSaavn BUSINESS MODEL AND FUNDING
JioSaavn Business Model is very simple they upload music of every famous artist and play audio and display advertisement in between of songs and audio clips they have the highest user base of around 22 million active users as of February 2013.
They have a turnover of around $2.5 million and offices in various cities like New Delhi, Mumbai, Bangalore, and California its headquarters is situated at New York when it is a question about JioSaavn funding The answer is they have managed to score funding of about $100 million led by Tiger Global Management, Steadview Capital, Mousse Partners, and Liberty Media.
Paid service like offline ad-free music streaming is the primary source of its revenue in which it allows new users to download songs for offline streaming within one week of time after that paid subscription can be started there are different plans like ₹95 per months,₹285 per 3 months ₹550 per 6 months, ₹999 per year a fantastic fact is that they offer online streaming with ads without subscription only in India.
They mainly focus on two main things
Do you know why Rishi Malhotra and his co-partners succeed in their business model because they all understood the need of mobile app and designed The App in such a way that it is fully optimized for its users and easy to use as well?
This same strategy Google has applied before and got succeed to outrank Yahoo as.
JioSaavn completely shifted their B TO B business model to B TO C business model and acquired distribution rights of songs to publish them the web.
CASE STUDY OF PARTNERSHIPS
- it joined hands with Twitter and introduced @SaavnRadio
- JioSaavn Business Model is quite interesting because they have around more than 900 label partners like T-Series, Tips, YRF etc.
- in 2012 it has made a deal with Sony and acquired all its music database.
- With the motive of creating a music library, it made a partnership deal with Shazam’s to buy the right of distributing music tracks of regional gesture like Gazals, devotional,indipop etc
- Another turning point in the business was the collaboration with most talented Bollywood actor Ranbir Kapoor and they run many television ad campaigns along with him for around 6 months.H e said he desires to help JioSaavn to be a great Music streaming brand, as a result, there were around 7 million YouTube views
- After some time Facebook associated with JioSaavn in that partnership this give its users to share music albums on Facebook.
- They laughed their official Mobile application on Android and IOS Platform and received a rating of 4.5 Stars
- In May 2015 Mr. Vinodh Bhat the co-founder of JioSaavn was honored with the title Vice-Chairman of IAMAI(The Internet & Mobile Association of India)
- An interesting fact is that they provide free music only in India and in abroad people have to spend around $3 per month to stream music online.
JioSaavn donate money for every hour of music played its application
They have collaborated with Akshaya Patra and launched of Music For Meals. For every single hour of music played on that, the company helps and provide mid-day meals to school-going children all over India through which it is fulfilling its social responsibility as well as we all know that a business user society’s resources and it should pay something in return if you are reading this blog you must have understood.
JioSaavn AS A PLATFORM FOR MUSIC CREATORS
The JioSaavn Business Model another fantastic fact is that it also provides local music creators to publish their music on it many YouTubers like Zakir Khan,Bhuvan Bam have published their original music on its platform with the name of CHACHA VIDHAYAK HAI HUMARE and SAFAR if you are looking for a music career then JioSaavn will be a great online platform for you.