Saavn, a specialist in Indian and Bollywood music, has shared two business developments. First, the company added two strategic investors to its music platform. Senvest Management in New York and Endeavor from Los Angeles are now investors in the service.
Second, the company also announced some results from its efforts as an in-house label. Its latest track, Born Diggy by Zack Knight and Jasmin Walia, was released regionally as a Saavn exclusive. The song has attracted more than 16 million streams on Saavn and 3 million streams on international platforms such as Spotify and Apple Music.
“Our evolution from a music streaming service to a platform for the arts has been a multi-year vision for the company,” CEO and Co-founder Rishi Malhotra said. “India’s music landscape and listening behaviors are unique amongst all other global markets. We have always been dedicated to delivering the most networked experience for our users. The cross-platform success of our latest music release is a combination of high-touch A&R, distribution strength of Saavn, and coordinated integration with platforms like Snapchat and Instagram.”