Mukesh Ambani’s latest music shake-up! Now, Jio owns South Asia’s biggest platform for music

By: | Updated: December 4, 2018 4:54 PM

Mukesh Ambani's music shake-up: Mukesh Ambani, Asia's richest man, chairman and MD of Reliance Industries, now owns South Asia's largest platform for music.

Mukesh Ambani, Asia's richest man, chairman and MD of Reliance Industries, now owns South Asia's largest platform for music.Mukesh Ambani, Asia’s richest man, chairman and MD of Reliance Industries, now owns South Asia’s largest platform for music.

Mukesh Ambani’s music shake-up: Mukesh Ambani, Asia’s richest man, chairman and MD of Reliance Industries, now owns South Asia’s largest platform for music. After shaking-up the telecom industry with dirt-cheap data and calling services, Reliance Industries acquired Saavn Media earlier this year.

Reliance Jio and its parent company Reliance Industries signed a deal for the integration of JioMusic with Saavn, which now is South Asia’s largest streaming, entertainment and artist platform. Marking the official integration of the two, Saavn Media, a unit of RIL, announced launched the live-streaming music app.

RIL had acquired the partial stake from the existing shareholders of Saavn for $104 million. With Saavn, RIL has added one more venture to its long list to subsidiaries that provide services related to entertainment and content.

Network 18: Mukesh Ambani’s Reliance Industries owns the mass media and entertainment network. Under RIL’s ownership, the Network 18 group in 2015 acquired ETV Network.

Balaji Telefilms: In July last year, Reliance Industries acquired 24.92% stake in Ekta Kapoor’s Balaji Telefilms.

Roy Kapur Films: Mukesh Ambani also signed a multi-year deal with Roy Kapur Films for short and long-form content under ‘Jio Originals’.

Eros International: In February this year, RIL also acquired 5% stake in Eros International and announced joint Partnership with Eros India to set-up Rs 1,000 crore each to produce and acquire Indian films and digital originals.

Star India: RIL has recently announced five-year content syndication deal between its video streaming platform JioTV and Star India.

Cable networks: RIL also entered a strategic investment partnership with Den Networks Limited and Hathway Cable and Datacom Limited in October, which will be cable operators in Mukesh Ambani’s kitty as well.

According to a report by America Merrill Lynch (BofAML), about two-thirds of Jio users use data to primarily watch live television and stream videos. The telecom aggregation apps like JioTV and JioCinema are turning into one-stop places for consumers to view all content.

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