The Jio-Saavn deal, will see Reliance Industries buy stake in Saavn for $104 million and invest $100 million for expansion of the music app. Photo: PTINew Delhi: Mukesh Ambani-helmed Reliance Industries Ltd on Friday announced an integration with leading music app Saavn for its digital music service JioMusic. The Reliance Jio-Saavn deal comes at a time when India’s audio streaming market is on the rise. The year 2016 saw a spike in music streaming volume with 50-60 million active monthly users on music streaming applications. Reliance launched its LTE mobile network operator Reliance Jio in 2016.

Source: Mint March 23, 2018 15:50 UTC