Saavn, India’s leading music streaming service, 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 wallet later this year.
Under the agreement, Mozido will integrate its mobile wallet payment platform as the preferred payment option for the Saavn Pro premium offering. The partnership enables Saavn to offer its Indian listeners access to a convenient payment option, while giving Mozido an opportunity to provide a broader array of financial and engagement services to Saavn’s young, tech-savvy and growing consumer base.
Mozido will benefit from the native ad inventory on Saavn to promote its mobile wallet service. Saavn will contribute key differentiating assets such as early access to music releases, concert passes, movie tickets, and rebates on Saavn Pro subscriptions. Saavn will also create unique branded content for the promotions, including playlists, trivia and tips. The company will also integrate Mozido into large-scale grassroots activities, especially involving live music performances across the country.
“We’re incredibly excited to partner with Mozido for their entry into India as well as help them build a strong brand in the market. Our team was impressed by Mozido’s MoTEAFTM technology platform as well as by their overall roadmap for mobile payments and financial services for consumers in emerging markets,” said Vinodh Bhat, Saavn Co-founder, President, and Chief Strategy Officer. “We’re always on the lookout to provide our customers with new and convenient means to sign up, interact and pay for Saavn Pro, and this is such a great fit.”
“India is one of the world’s most dynamic and fastest growing economies, and music is at the center of the Indian culture,” said Todd Bradley, Mozido CEO. “Music services, and Saavn in particular, provide a powerful channel to all consumers. They have created a premium environment for people to engage with their passion for music.”
“We’re elated to partner with such a strong company in the region and to have built such a compelling offer for our target audience,” added Michael Liberty, Founder and Chairman of Global Strategic Initiatives of Mozido. “We very much look forward to working together over the next few years to bring our service to South Asia.”