Saavn And Mozido to Bring Mobile Payments to India’s Music Streaming Audience

Saavn

India’s leading music streaming service Saavn announced today a multi-year agreement with U.S. based mobile payments company Mozido.

The partnership will leverage Mozido’s mobile wallet and engagement platform to streamline payments, rewards, financial services, and offers for Saavn’s 18 million listeners. The companies plan to introduce the mobile wallet later this year.

Saavn co-founder, President and Chief Strategy Officer Vinodh Bhat told PTI, “Under the agreement, Mozido will integrate its mobile wallet payment platform as the preferred payment option for the Saavn Pro premium offering. We also plan to introduce the wallet later this year.”

He added that the partnership would enables Saavn to offer its Indian users access to a convenient payment option, while giving Mozido entry into the Indian market.

“Saavn will also create unique branded content for the promotions, including playlists, trivia and tips. We will integrate Mozido into large-scale grassroots activities, especially involving live music performances across the country,” Bhat said.

Michael Liberty, founder and Chairman of Global Strategic Initiatives of Mozido said, “India is one of the world’s most dynamic and fastest growing economies… We very much look forward to working together over the next few years to bring our service to South Asia.”

Bhat said Saavn has seen a six-fold growth in the number of its Pro service subscribers since 2014. We have 18 million monthly active users and we have seen a 3x increase in streaming volume since 2014. With over 250 million streams per month, people are looking for great content at an affordable price.”

Saavn has two key revenue channels – ad model and Saavn Pro (paid service). About 75 percent of its users are in India, while the remaining 25 percent are in the US, the UK, UAE and other countries.

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