Saavn is providing Bollywood content to Verizon Wireless (NYSE: VZ), as a part of their V Cast Video service in the US. Content includes full length music videos and pre-release video promos. Some movies mentioned in the release include Race, Om Shanti Om, Krazzy 4, Bhool Bhulaiyaa, Jab We Met, among others. Saavn already provides Bollywood ringtones and ringback tones on Verizon Wireless.

Getting down to the business side of the deal: Verison V Cast Video (for V Cast enabled phones) is priced at $3 for 24 hours of use, and at $15 for a monthly subscription to the V Cast VPak, and as per the release, it appears that the Saavn content is priced over and above the subscription fees - at a premium of $4.99 per month. Well, some of the new content, particularly the promos, are likely to be available free, legally on YouTube…other films, some dated, are also available for free streaming on sites like BigFlicks and Rajshri Media, among others. [via release]

Update: As a reader mentions in the comments, Saavn is a joint venture between Hungama Mobile and 212 media.