• Monday, August 08, 2022

Business

Reliance merges music apps amid streaming rise in India

By: Admin Super

Indian conglomerate Reliance Industries said on Friday (23) it was integrating its music app with sector leader Saavn in a $1 billion deal that shows the high hopes for streaming in the billion-plus market. Reliance, a company with holdings from oil to telecoms run by India’s richest person Mukesh Ambani, said it would pump $100 million into the combined platform, one-fifth of it immediately, in hopes to make it “one of the largest streaming services in the world.” Reliance said that it was integrating its own music app, Jio Music, with Saavn and that the combined entity would be worth…

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