Music streaming service Saavn has appointed Mahesh Narayanan as its Chief Operating Officer. Prior to Saavn, Narayanan was the Managing Director of Sociomantic Labs which was acquired by Dunnhumby in April 2014, less than a year after the company had launched its Mumbai operations. Before that, he was at Google, including as the country head of its mobile division. Between the two Google jobs, Narayanan was also the country manager for Admob, which was then acquired by Google in 2010, post which Narayanan returned to Google. Narayanan has also worked at Times Television Network, Mediaturf, Bazee.com and Bidorbuy India.
In August, Saavn has raised an undisclosed amount in funding from Hong-Kong based hedge fund Steadview Capital. The company had also shuffled top roles at that time, with Rishi Malhotra, who was the President till then, was switched into the CEO role, and Founding CEO Vinodh Bhat who took over Malhotra’s previous role, was appointed the new Chief Strategy Officer.
Founded in 2006, Saavn claims to catalog approximately 2 million songs in partnerships with more than 900 record labels, including Tips, YRF, Saregama, Universal, Sony and Warner Music. The company had also entered into a content partnership with T-Series recently, which gave it the rights to stream over 133,000 tracks from T-Series catalogue on mobile. It also tied up with EMI Music and Warner Music to license 800,000 international tracks for its collection.
In a note sent to us, Saavn makes the following claims:
– 30 million unique users in 2014
– 11 million monthly streaming users
– Entering the 10-50 Million Downloads tier on Android
– 6x increase in Saavn Pro subscribers from Q1 2014
– 3x increase in streaming volume from Q1 2014.
– Approaching 200 million streams per month.
– 90% of users are on mobile.