iWorld
Maverick Records CEO Guy Oseary joins Saavn as investor and partner
NEW DELHI: Legendary record executive, investor, talent manager, and CEO of Maverick Records Guy Oseary is joining entertainment streaming service Saavn as a partner and investor.
Oseary’s career in the entertainment industry spans decades of achievement. At Maverick Records, he led the label to sales of over 100 million records, worldwide. His Maverick Films oversaw the Twilight movie series for a combined gross of more than $2 billion in global sales.
In addition to working with Madonna for over 25 years, Oseary works alongside some of the best managers in the music business, representing some of the world’s greatest artists, including U2, Miley Cyrus, Britney Spears, Paul McCartney, Nicki Minaj, Jason Aldean, Fifth Harmony, G-Eazy, and the Weeknd.
As an investor and partner in Saavn, Oseary will help the company continue to build a robust platform for streaming entertainment in India. With a foundation of more than 20 million music tracks, streaming to 196 countries in 13 languages, Saavn claimed its uniquely localized approach has established a new, effective model for international streaming entertainment.
Oseary said: “I have been a big supporter and investor in music streaming for years. Saavn is the leading music service in one of the world’s largest and most dynamic markets. Many artists would love for their music to reach India’s over one billion residents. From the time I’ve been in the music business, that process has always been too complicated; now, through Saavn, it is finally possible to have a true local partner in India that gets it, and will work hand-in-hand with artists and their managers. I’m very impressed by Rishi’s vision and his exciting plans for Saavn moving forward.”
Saavn’s disruptive business model, built around a native mobile advertising platform, fast-growing subscription base, and partnerships with leading mobile carriers, demonstrates a sustainable way forward for the streaming industry, while its original programming initiative is introducing Indian audiences to new modes of premium audio content never before heard in the country. In a region that has traditionally seen music and film consumed simultaneously, Saavn is into OTT distribution of new music and original programming for the millennial generation.
Saavn CEO and Co-founder Rishi Malhotra said: “As we continue to evolve Saavn into the first stop for streaming entertainment in India, we focus on marrying the best content with the best mobile products. Our global perspective and local approach has enabled us to create a powerful streaming economy in India. Guy and I are developing unique artist collaborations for Saavn and we’re honoured to have him as a partner and investor. Guy has incredible instincts across entertainment and media. He understands that we are not building the Spotify or Pandora of India. We are building Saavn in India, for India, and we’re thrilled to work with him to build the company for the long term.”
iWorld
Spotify Q1 revenue hits €4.5bn as users cross 760 million globally
Subscriber growth and margins rise as platform bets big on AI and discovery
LONDON: Spotify has kicked off 2026 on a strong note, reporting first-quarter revenue of €4.5 billion, up 14 per cent year-on-year in constant currency, as its global user base swelled past 760 million.
The streaming giant said monthly active users rose 12 per cent year-on-year to 761 million, while premium subscribers climbed 9 per cent to 293 million. The steady rise in both free and paid users signals continued demand for its expanding mix of music, podcasts and audiobooks.
Profitability also struck a chord. Gross margin improved by around 140 basis points to 33 per cent, marking one of the company’s strongest first-quarter performances to date. Operating income reached €715 million, comfortably ahead of expectations.
Spotify co-CEO Alex Norström said, “We surpassed 760 million MAU, delivered on the subscriber growth we aimed to achieve, and saw healthy engagement from existing users, reactivations and new users alike.” He added that increased listening and viewing activity in key markets such as the United States reflects confidence in sustained growth and low churn.
The company’s other co-CEO, Gustav Söderström, pointed to long-term ambition, saying the platform’s scale, creator ecosystem and investments in personalisation are opening up “new growth vectors” across formats and user engagement.
Revenue growth was largely driven by the premium segment, which rose 10 per cent to €4.1 billion, supported by price increases and stable average revenue per user of €4.76. However, the ad-supported business saw a 5 per cent dip to €385 million, though it still posted a modest 3 per cent increase in constant currency terms.
Cash generation remained robust, with free cash flow at €824 million for the quarter and €3.2 billion over the past 12 months. The company also benefited from lower-than-expected operating expenses, including €49 million in reduced social charges linked to share-based compensation.
Beyond the numbers, Spotify is leaning into product innovation. New AI-driven features such as “Taste Profile” and “Prompted Playlist” aim to give users more control over recommendations, while tools like “SongDNA” and “About the Song” deepen music discovery. The platform is also expanding audiobook charts in the United States and United Kingdom to boost engagement in newer formats.
Looking ahead, Spotify expects momentum to continue into the second quarter, forecasting 778 million monthly active users, 299 million subscribers, revenue of €4.8 billion and operating income of €630 million.
With €8.8 billion in cash and 7,258 employees, the company appears well-positioned to keep its growth story in rhythm as competition in digital entertainment intensifies.
