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Tag: Pocket FM

  • Six web shows that celebrate the magic of girl power

    Six web shows that celebrate the magic of girl power

    Mumbai: International Women’s Day is just around the corner…and there’s a long weekend in store for us too! What better way to mark this occasion than watch interesting shows that celebrate feminism? The digital landscape has given storytellers the opportunity to explore woman-centric subjects with freedom, and some shows have truly been standout spectacles this year! Here are six such female-led titles that make for a must-watch on Women’s Day:

    1.  Maharani- Season 3 (SonyLiv)

    Huma Qureshi’s back with a bang! The tale of an uneducated housewife who transforms into a driven and feisty chief minister, Maharani sends across the powerful message that women can move mountains with their grit and determination. The third season of the show is expected to be even more thrilling with twists and turns one can never see coming.

    2.  Ek Ladki Ko Dekha To (Pocket FM)

    If fresh and engaging podcast shows are your cup of tea, Pocket FM’s ‘Ek Ladki Ko Dekha To’ could be right up your alley! It depicts the rollercoaster journey of Anika, an 18 year old girl weighing 120 kilos who has never been intimate with anyone in life, and yet ends up pregnant! On returning to her hometown after 6 years with a daughter, Anika has to tide through a horde of haters who are now her die hard fans, and find her twin son as well as the real father of her children. In this audio drama, expect the unexpected!  

    3.  Karmma Calling (Disney+Hotstar)

    Hell hath no fury like a woman scorned! Karma Calling is the suspense laden tale of a young woman who swears revenge on a powerful family that wronged her. Headlined with flair and finesse by the impeccable Raveena Tandon, this show is tailor made for lovers of revenge thrillers where nothing is what it seems like, and every person has a dark and deadly secret hiding under their smile.

    4.  The Royal Bengal Family (Pocket FM)

    Another edge-of-the-seat audio series from Pocket FM, this show explores the mystery-filled life of Debina, who returns home after spending 10 long years on a deserted island. The only mission in her mind is to unearth the real truth behind her mother’s demise. But, how far will she go to seek the truth? Is there more to this death, than what meets the eye? The Royal Bengal Family will leave you hooked for more after each audio episode!

    5.  Raisinghani vs Raisinghani (SonyLiv)

    A courtroom saga led by the incredible Jennifer Winget, Raisinghani v/s Raisinghani is an intense family legal drama. It tells the story of Anushka Raisinghani, a talented female lawyer who’s always sidelined by her father who considers her empathy to be a weak trait. When a seemingly innocent intern joins her firm with a hidden agenda, a can of worms are opened, and it is up to Anushka to unravel the truth.

    6.  Aarya- Season 3 (Disney+Hotstar)

    Ever since the first season hit screens, audiences have been captivated by this ‘loving wife turns dangerous drug lord’ show. The final chapter of the Aarya universe, Aarya Season 3 sees Sushmita Sen in her edgy and fiery best as she battles countless villains in the quest to keep her family safe. With the threats increasing by the day, can Aarya succeed in her mission? The final season is centered around this gripping plot.

  • Pocket FM elevates Lalit Gangwar to VP and country head – US

    Pocket FM elevates Lalit Gangwar to VP and country head – US

    Mumbai: Audio series platform Pocket FM has announced that the company has elevated Lalit Gangwar to VP and country head – US and lead the company’s content operations and revenue growth for the US market.

    An IIT-Madras alumni, Lalit is a founding member of Pocket FM and has been a driving force behind Pocket FM’s success in establishing its presence across multiple geographies, including India and US. His strategic vision and commitment have played an integral role in the platform’s transformation into a global entertainment powerhouse.

    Lalit Gangwar, the newly appointed US country head, expressed his excitement about the journey ahead. He shared, “Pocket FM’s success underscores the impact of engaging storytelling. In the dynamic US entertainment industry, audio series are becoming more popular as a mainstream platform, fuelled by the emergence of widespread audio entertainment. Aligned with this evolution, we aim to deliver compelling storytelling that contributes to the growth of the audio series category in the US. It is my privilege and honor to have the opportunity to contribute to continue Pocket FM’s growth journey in US and take it to the next leap”

    Lalit has been a partner to Pocket FM’s journey since its early days. Prior to joining Pocket FM, he has worked with startups like Healthkart, Zomato and Dineout.

    Commenting on the elevation, Pocket FM CEO & co-founder Rohan Nayak said, “Lalit’s contributions have been nothing short of extraordinary. He has been a driving force in our journey towards achieving profitable growth. In this elevated role, we believe Pocket FM will continue to thrive and keep expanding into newer territories and emerge as a global leader in the audio entertainment space,”

    In 2022, the company announced its entry into the US market when it surpassed a US$25 million annualized revenue run rate (ARR). It remains bullish towards innovation and growth and aims to leverage its proven success to build a mainstream entertainment hub for a global audience.

  • Pocket FM appoints Suyog Gothi as VP and India c0untry head

    Pocket FM appoints Suyog Gothi as VP and India c0untry head

    Mumbai: Audio series platform Pocket FM has announced the appointment of Suyog Gothi as VP and India country head. In this role, Suyog will spearhead the company’s operations in India, working closely with co-founders Rohan Nayak and Nishanth KS.

    Suyog joins Pocket FM with diverse experience, having previously served at PhonePe, where he last headed the merchant lending division. Suyog earlier played a pivotal role in scaling up PhonePe’s UPI payments business, showcasing his leadership and strategic acumen in launching and managing the business at scale.

    In expressing his excitement about joining Pocket FM, Suyog Gothi stated, “I am thrilled to be part of Pocket FM, a company that is truly revolutionizing audio entertainment. I look forward to advancing our mission, fostering innovation, and empowering voices across the nation’s diverse auditory landscape.”

    At Pocket FM, his responsibilities include overseeing operations in India and implementing strategic initiatives to further strengthen Pocket FM’s dominance in the market. He will play a crucial role in driving the company’s growth across India, with a focus on scaling up the user and writer community and driving sustainable growth.

    Pocket FM co-founder and COO Nishanth KS commented on the appointment “We are delighted to welcome Suyog Gothi to the Pocket FM family. His proven track record and strategic vision align seamlessly with our goals for expansion and innovation. We are confident that Suyog will play a pivotal role in scaling up Pocket FM’s success in India.”

    A graduate of IIT-Madras, Suyog has an impressive track record, having contributed significantly to the success stories of companies like Phonepe and Flipkart. His legacy in growth-focused responsibilities makes him a valuable addition to Pocket FM’s leadership team.

    Suyog Gothi’s appointment reflects Pocket FM’s commitment to attracting industry-best talents and fostering continued growth in the rapidly evolving digital entertainment landscape.

  • Pocket FM’s India arm registers 647 per cent revenue growth in FY 2023

    Pocket FM’s India arm registers 647 per cent revenue growth in FY 2023

    Mumbai: In its RoC (Registrar of Companies) filing with the Ministry of Company Affairs, audio series platform Pocket FM has disclosed the financial performance of its India subsidiary for FY2023. The company reported a 647 per cent surge in revenue, reaching Rs.131 crores. It has reduced its loss (before tax) by 56 per cent, amounting to Rs 75.7 crores.

    Pocket FM has experienced a 417 per cent increase in microtransaction revenue (content monetisation) to Rs. 82.8 crores. The advertising revenue soared by 1120 per cent to Rs.12.17 crores, with the company at a pilot stage for its brand and ad solutions streams.

    Pocket FM has been prudent with expense management in FY23, with overall expenses growing by 9.32 per cent to Rs.206.78 crores. The advertising and marketing expenses are brought down by 45 per cent to Rs.70.57 crores. However, the company’s commitment to expanding its content library is evident with its content expenses more than doubled to Rs.21.29 crores in FY23.

    Employee spending has witnessed an increase from Rs 30.7 crores in 2022 to Rs 73.3 crores in 2023 to align with the company’s growth strategy.

    Commenting on its FY23 financial disclosures, Pocket FM chief finance officer Anurag Sharma said, “As Pocket FM charts its path in FY2023, our focus is clear: strategic growth, global expansion, and financial resilience. Our commitment to staying financially healthy ensures a strong foundation for scaling up not just in India but also globally. With continuous investments into content and the writers’ community, we look forward to elevating entertainment not just limited to listening experiences but replicating the experience across other formats through IP stronghold.”

    The company’s expense-to-revenue ratio has got better to 1.58 in FY23 from 10.78 in FY22.

  • Pocket FM Rewind2023: 75B minutes streamed, 30 per cent during leisure hours

    Pocket FM Rewind2023: 75B minutes streamed, 30 per cent during leisure hours

    Mumbai: Audio series platform Pocket FM released its “Rewind2023: How India Got Entertained This Year” update highlighting the consumption behaviour and trends on the platform during the year.

    The platform has exceeded 75 billion minutes of streaming, with an average monthly streaming of over six billion minutes. The listener community has crossed 130 million across the globe. It has registered over 20 million transactions in 2023, closing the year with 2.5 million monthly transactions.

    The new entertainment category that Pocket FM pioneered with audio series got the entire nation hooked on its storytelling. Delhi NCR, Mumbai and Bangalore turned out to be the most active cities, with over 5 billion minutes being streamed from here. Emerging cities like Jaipur, Lucknow, Surat and Pune also ranked in Pocket FM’s top 10 Indian cities for 2023.

    It’s entertainment 24/7. Never a dull moment!

    Pocket FM defies the stereotype that audio is confined to specific moments like commuting or exercising. In 2023, the audio series category has driven this platform to a 24/7 entertainment destination, experiencing consistent user engagement across all time zones.

    31.4 per cent of consumption occurred during leisure time (9 pm – 6 am). Morning (6-9 am) and evening (6-9 pm) hours saw 25.2 per cent consumption. However, the maximum spike was witnessed during productive hours (9 am – 6 pm) with 43.4 per cent consumption. This pattern reiterates the role of audio entertainment doubling up as a mental wellness support, helping to reduce stress and distraction while it increasing attention and focus. An almost equal gender representation was seen, with males constituting 55 per cent of the audience. Gen Z holds the majority at 39 per cent, followed by millennials at 30 per cent and GenX at 21 per cent.

    In 2023, the top genres were drama, romance, and Sci-Fi & fantasy. males showed a preference for drama series, while females exhibited greater interest in Romance. Surprisingly, both genders demonstrated equal excitement for Sci-Fi and fantasy series consumption.

    Audio Blockbusters are now a reality. Insta Millionaire exceeds Rs.100 crores revenue collection.

    The platform achieved remarkable growth in 2023, doubling its audio series catalogue to end the year with 2000+ titles.

    17 audio series surpassed 100 million plays, while 40 titles exceeded 50 million plays. In terms of revenue, 13 audio series surpassed the Rs.10 crore mark, and 25 series achieved Rs.5 crore in collections. Insta Millionaire turned out to be a mega-blockbuster with Rs.100 crore revenue collections.

    The standout shows of the year, ‘Insta Millionaire,’ ‘Ek Ladki Ko Dekha To,’ and ‘Devil Se Shaadi,’ emerged as the biggest hits, leading in both playtime and revenue collection in India.

    Encouraged by this trend, Pocket FM co-founder and CEO Rohan Nayak said, “This year, audio series as a category has surged in popularity, firmly establishing as a mainstream entertainment choice. We have emerged as a leading entertainment destination, boasting an average daily time spent of over 115 minutes and witnessing 24×7 entertainment consumption throughout the day. This year our blockbuster series Insta Millionaire has crossed Rs.100 crores in revenue, possibly the first entertainment title in audio to achieve this landmark. We predict this trend to get stronger, with audio series rising to prominence among the top three forms of entertainment, inspiring and complementing the storytelling in movies, web series, and TV.”

    Pocket Novel – Nurturing the Writers’ Community

    Pocket Novel, the online reading platform from Pocket FM,  has grown significantly, with its revenue increased by 500%. Transforming into a literary haven, its writers’ community has grown to exceed 150,000 writers.

    More than 25 novels garnered over 10 million reads, with 250+ novels hitting the 1 million reads mark. Additionally, 75+ novels from Pocket Novels were turned into audio series on Pocket FM.

    Users now spend an average of over 100 minutes daily on this novel platform. The readers’ favourites span across romance, drama, suspense, fantasy, and Sci-Fi genres.

    Moni Singh, writer of Devil Se Shaadi, turns out to be the top earner, followed by other leading writers like Cerica (alias Jigyasa) and Kavya Sharma. The top 10 writers have cumulatively earned over two crores rupees.

    “Audio series as a category has been instrumental for writers, enabling them to share their stories with millions across the world. Thousands of writers are joining our community every day, inspired by the success stories of existing writers, turning us into a launchpad for storytellers through audio series. To support and reward our writers, we have set aside a Writers’ Fund of Rs. 250 crores for the writers community, ensuring they stay financially motivated in their creative journey.” added Nayak

     

  • Subeer Bakshi joins Pocket FM as head – people & culture

    Subeer Bakshi joins Pocket FM as head – people & culture

    Mumbai: Audio Series platform Pocket FM announces the appointment of Subeer Bakshi as the head of people & culture. Subeer brings over two decades of international and multi-industry experience to his new role, having previously held key roles in organisations such as Mercer, Aon, Willis Towers Watson and Bajaj Finserv.  

    In his role at Pocket FM, Subeer will spearhead the build out of people process and culture anchors that will enable the hyper-growth of the company. His experience of building high performing teams in fast-growing companies is expected to play a pivotal role in shaping the company’s expansion on a global scale.

    Subeer Bakshi expressed his enthusiasm for the new role saying, “I am excited to join the rocketship that is Pocket FM. Through a series of innovations, it has powered its way through to a promising market opportunity, building a new category in the entertainment landscape. As the company is scaling up globally, I look forward to contributing to its growth by aligning people’s practices to its unique business needs, building on the foundation of an already exceptional team.”

    Prior to this, Subeer was heading talent strategy at PhonePe and contributed to their efforts in scaling the company to become a market leader. At Pocket FM, he will work closely with Co-founder & CEO Rohan Nayak to build the organisation at a global scale.  

    Pocket FM Co- founder and CEO Rohan Nayak said, “Subeer’s extensive background in the people function, building culture and his track record in building strong, collaborative teams make him a valuable addition to our leadership team. We are confident that his expertise will further strengthen our commitment to creating an enabling culture and propel Pocket FM to become an employer of choice” 

  • Audio is the new Lifestyle, reveals Pocket FM Survey

    Audio is the new Lifestyle, reveals Pocket FM Survey

    Mumbai: Audio Series platform Pocket FM unveils the findings of the second leg of its entertainment consumption survey ‘Digital Entertainment Insights: Audio Takes The Centrestage’. The survey conducted every quarter across India aims to understand the digital pulse of the nation and delves into the preferences, behaviours, and attitudes of internet users towards various forms of digital entertainment.

    Audio Takes The Centrestage: Key Metrics

    The findings suggest a resounding shift towards audio formats, with 81 per cent of people engaging with audio entertainment daily. Storytelling emerged as the primary catalyst for its irresistible pull, with one in three users expressing a distinct preference for this engaging and immersive format. The other triggers are convenience, influencing every 4th user, and content diversity, affecting every 6th user to adopt audio as a preferred content medium.

    Regarding devices, 71 per cent of users consume audio content on their smartphones, highlighting the convenience and accessibility that mobile devices provide. However, 29 per cent of users prefer to consume audio through tablets, smart TVs, desktops, and other devices, showcasing the rise of audio consumption at the workplace and home.

    Genre-wise, drama emerged as the leading genre capturing the attention of 22 per cent of users, closely followed by suspense and thriller at 21 per cent, romance at 17 per cent, sci-fi at 12 per cent, and comedy at 11 per cent.

    Users seek concise, episodic content— want audio storytelling to be evolved into video

    Approximately 40 per cent of users lean towards shorter episodes lasting between 5-15 minutes, while 35 per cent prefer slightly longer episodes in the 15-30 minutes range. Only about 25 per cent of users prefer longer content, opting for episodes spanning approximately 45-60 minutes.

    The rising popularity of audio entertainment is evident, with a notable shift in how people envision audio content. A staggering 93 per cent desire to adapt audio content into visual formats such as video OTT, TV series, and movies. As audiences seek multi-sensory engagement, the call for transforming audio storytelling into visual mediums underscores the evolving nature of content consumption in today’s digital age.

    Audio Emerges as Mental Wellness Specialist

    Audio extends beyond entertainment, proving itself as a valuable productivity tool. 44 per cent of users find audio for stress relief and believe it to be a soothing escape amidst daily pressures. Moreover, 30 per cent leverage audio to enhance focus, creating an immersive environment for improved concentration during work or other cognitive activities.

    About 26 per cent look at audio as a means to avoid distractions. This multi-role of audio highlights its versatility, serving as a source of entertainment and a crucial element for effective and mindful living.

    Trust is key; Audio is winning it.

    When it comes to content selection, trust plays a deterrent role. 42 per cent of users rely on content recommendations from the platform itself, while recommendations from friends and family (17 per cent) and social media (21 per cent) also wield significant influence. Surprisingly, only 6 per cent of users are swayed by influencers, indicating a higher level of disconnect with their recommendations among the audience.

    58 per cent of users are highly likely, and 28 per cent are likely to recommend their favourite audio platforms, showcasing a strong belief in the quality of auditory content. When it comes to spreading the word, good old-fashioned word of mouth leads the pack, with 42 per cent of users relying on recommendations from friends. Social media is just a little behind, influencing 36 per cent of users.

    Zooming into specific audio content, audio series steal the spotlight with 74 per cent giving 5-star recommendations. In comparison, 51 per cent give 5-star ratings to TV entertainment but get a rating of 3 or below from 33 per cent of users. Online music and video OTT also fare well, with 58 per cent and 53 per cent of users giving 5-star ratings, respectively, but rated 3 or below by 23 per cent and 31 per cent of users, highlighting a shift in the audience’s digital entertainment preferences.

    Audio Series is the winner but at the cost of …

    The survey unveils the increasing popularity of audio entertainment, prompting a seismic shift in user preferences. 31 per cent of users transitioned from online music to audio series, indicating a dynamic redefinition of audio entertainment consumption patterns. Similarly, 16 per cent felt that their entertainment consumption shifted from social media and short video consumption, while 20 per cent believed that audio series had replaced their video streaming habits. Even audio series have influenced other spoken-word content formats, such as audiobooks and podcasts, with approximately 17 per cent of users experiencing a shift from these formats. Only 16 per cent feel their entertainment time spent increased with audio series.

    Pay for Play – The time has come for Audio!

    As the landscape evolves, so do monetisation trends. While 23 per cent prefer subscription-based models, the survey indicates a growing appetite for flexible pricing with 37 per cent of users open to paying for individual episodes. Only 40 per cent of users still favour ad-supported and promotional models to drive consumption on audio platforms.

    Speaking on the findings of its second edition of Digital Entertainment Insights, Pocket FM CEO and co-founder Rohan Nayak said, “The outcome of the survey reflects a remarkable shift in consumer content consumption preferences, signaling the rise of audio as a dominant force in the entertainment landscape. Audio is not merely a trend, but it has become a lifestyle, driving engagement that exceeds any other entertainment medium. The findings strongly suggest that audio series is set to dominate audio entertainment, and we believe, it will emerge among the top 3 entertainment formats in the next couple of years.”

    “As we welcome this audio revolution as an opportunity, we are committed to leading the way into a future where audio takes centre stage in the hearts and minds of millions of audiences across the world,” added Nayak.

    Methodology

    The survey encompassed a diverse cross-section of the Indian population with a total sample size of 22,442 internet users, conducted between 28 October 2023 and 15 November 2023. Regarding gender distribution, the respondents comprised 69 per cent males and 30 per cent females. Delving deeper into age demographics, 58 per cent of the sample are Millenials, 35 per cent represented GenZ and 7 per cent belong to GenX. Geographically, the survey has a balanced representation, with 58 per cent of respondents hailing from tier 1 cities and metros and the remaining 42 per cent from tier 2 cities, reflecting an overview of digital entertainment preferences across diverse urban-rural landscapes in India.

  • Vivek Bhutyani joins Pocket FM as VP – content marketing

    Vivek Bhutyani joins Pocket FM as VP – content marketing

    Mumbai: Audio series platform Pocket FM has announced the appointment of Vivek Bhutyani as the VP of content marketing. With over 20 years of experience spanning across various industries, including media, telecom, retail, and edtech, Vivek brings a wealth of knowledge and expertise to drive the company’s content marketing strategy and organic growth.

    Prior to Pocket FM, Vivek was as an integral part of the Vedantu leadership team. He was dedicated to driving organic growth for Vedantu, where he used to lead the entire YouTube strategy and growth, leading a diverse team of over 100 educators, master teachers, and content production teams and creators.

    Vivek Bhutyani’s entrepreneurial spirit and strong bias for action are well-evidenced by his impressive track record. He founded Lattukids, where he successfully created a unique and category-leading brand in one of the most challenging segments of the Indian Edtech industry.

    Vivek Bhutyani, in expressing his excitement and vision for his new role at Pocket FM, said, “I am truly exhilarated to join the Pocket FM team and especially excited for the 0 to 1 journey that we are undertaking on organic content marketing. I see immense potential in the serialised audio streaming space, driven by audio series and believe that we can reshape the way audiences consume content in this segment globally. Pocket FM’s commitment towards pioneering a new category with audio series, along with fostering a vibrant creator community and delivering outstanding content, aligns perfectly with my ambition to create a solid foundation for the organic growth funnels via our own content and IPs. Exciting times ahead!”

    His remarkable career journey has been characterised by his ability to build products and teams from the ground up, delivering exceptional results in terms of P&L, sales, go-to-market (GTM) strategies, digital marketing, content marketing, and content creation and distribution at a global scale.

    At Pocket FM, Vivek will work closely with co-founder & CEO Rohan Nayak and VP – International growth Lalit Gangwar to drive the international growth charter.

    Commenting on his appointment, Lalit Gangwar said, “Vivek’s experience and vision are expected to be instrumental in elevating Pocket FM’s position in the audio entertainment space. His passion for results, inclination to challenge the status quo, and proven ability to lead high-performing teams will be driving forces that align perfectly with Pocket FM’s mission to deliver high-quality, engaging audio content to audiences worldwide.”

    His educational foundation has equipped him with a strong understanding of business, marketing, and strategy. Vivek Bhutyani’s educational background includes an MBA  from the Indian Institute of Management Bangalore, with specialisations in Marketing, Strategy, Consumer Behavior, and Corporate Finance. He also holds a Bachelor of Engineering (B.E) in Electronics and Communications from Nirma Institute of Technology.

  • Pocket FM surpasses 100 million downloads on Google Play Store

    Pocket FM surpasses 100 million downloads on Google Play Store

    Mumbai: Audio Series platform Pocket FM has announced today that it has surpassed the remarkable milestone of 100 million downloads on the Google Play Store, strengthening its presence as a top player in the digital entertainment landscape. This achievement comes as a testament to Pocket FM’s commitment to providing high-quality audio content to millions of listeners worldwide in the form of audio series, a category innovated and nurtured by them.

    Since its launch in 2018, Pocket FM has quickly become a favourite among netizens seeking a diverse range of entertainment that can be accessible anytime and anywhere. The platform offers a variety of genres and languages, making it appealing to its listener community.

    As the demand for audio content continues to surge, Pocket FM has been at the forefront of innovation, offering a diverse range of content catering to various interests and age groups. The platform’s user-friendly interface, seamless streaming experience, and high-quality content have resonated with users across the world. Moreover, Pocket FM has continuously invested in developing and curating a robust library of engaging and entertaining audio content.

    Speaking about this significant milestone, Pocket FM co-founder and CTO Prateek Dixit, expressed his gratitude to its listener community, content creators, and the entire Pocket FM team. “We are thrilled to have surpassed 100 million downloads on the Google Play Store. This achievement is a testament to our team’s hard work and dedication, as well as the immense support from our listeners. We are grateful to every person who has joined the Pocket FM community and made it a part of their daily audio entertainment experience.”

    Dixit further emphasised the company’s commitment to providing rich and diverse content to its listeners. “Pocket FM is dedicated to continuously enhancing its content library and offering a wide range of audio entertainment options. We believe in giving our listeners a platform where they can explore and indulge in a new entertaining experience with every click.”

    As a leading audio entertainment platform, Pocket FM has played a significant role in reshaping the global audio entertainment landscape with its audio series, serialised fiction audio storytelling form similar to TV series. With its massive listener base and continuous growth, Pocket FM is set to redefine how people consume entertainment in the digital age.

  • “Our Audio Series content aligns perfectly with our listeners’ expectations”: Pocket FM’s Lalit Gangwar

    “Our Audio Series content aligns perfectly with our listeners’ expectations”: Pocket FM’s Lalit Gangwar

    Mumbai: In a world saturated with screens and noise, audio series has quietly carved a space for itself, offering an engaging form of storytelling that transcends the visual with better audience engagement. 

    Pocket FM is the audio series platform founded in 2018 by Rohan Nayak, Nishanth KS and Prateek Dixit. With over 100,000 hours of audio content, Pocket FM has consistently expanded its content diversity, with serialised fictional audio storytelling.  The company has been aggressively focusing on building a universe of entertainment (including romance, horror, thriller, sci-fi, emotional drama, etc.) content. Building on this momentum, Pocket FM pioneered micropayments for content monetisation –  a model that succeeded first time in the entertainment space.

    As Pocket FM is redefining entertainment, we delve into the allure of audio series and spoke to Lalit Gangwar, Head of Global Growth, Pocket FM to explore and understand this modern renaissance.

    Edited excerpts

    On the audio series genre and the YoY growth not only for the industry but for Pocket FM

    PocketFM has strategically centered its focus on fiction entertainment, recognizing it as a paramount market opportunity with a substantial total addressable market (TAM) and widespread adaptability. Our diverse content library encompasses various compelling genres, such as Romance, Drama, Fantasy, Horror, and more. Over the past four years, the leading figures in the industry have experienced remarkable growth, almost doubling or tripling their scale. Meanwhile, we are proud to share that our platform has achieved an exponential surge both in listener base and top-line revenue, showcasing unparalleled momentum and consumer traction.

    On the monetization process

    Our monetization model is built on a fundamental principle: delivering captivating entertainment content to our listeners, which, in turn, encourages them to willingly invest in their consumption experience. We offer two primary revenue-generating avenues: pay-per-view and ad-supported monetization, all within the freemium framework.

    Under this freemium structure, listeners have the opportunity to access defined hours of free content daily. However, if they seek an uninterrupted binge-listening experience, they can unlock additional content by paying for one or more episodes.

    The freemium model’s beauty lies in its ability to cater to both paying and non-paying listeners, ensuring our platform retains a broad audience of listeners. This solid product retention, in turn, facilitates exponential growth, enhancing the overall success of our platform.

    On the vernacular market is growing, how have you strategised your offerings to reach out to our consumers across geographies and demographics

    While Pocket FM has expanded to the global landscape, embracing regional languages and local dialects remains at the heart of our growth strategy. We have already established a significant presence across various Indian languages, in addition to English and Hindi. As we move forward, we are committed to expand Pocket FM’s reach across diverse geographies and demographics, furthering our mission to connect with a broader and more inclusive audience.

    On Pocket FM becoming a global player

    Our content strategy has always been driven by a backward approach, meticulously analysing audience preferences and resonances before formulating our content plan. By deeply understanding what captivates our audience, we ensure that our content aligns perfectly with their preferences and expectations.

    While we prioritise catering to specific geographical regions, we also recognise that certain content possesses universal appeal, transcending cultural boundaries. Iconic examples like Squid Games and Game of Thrones serve as clear demonstrations of this phenomenon, as they have garnered immense popularity and admiration across diverse geographies.

    Thus, while our content strategy emphasizes catering to specific regional tastes, we remain attuned to the potential for cross-cultural overlaps, leveraging universally appealing content to further enrich the entertainment experience for our global audience.

    On the fragmented market of connected TV/OTT

    Our primary objective in audience growth is to establish a widespread presence by creating numerous touch points. These touch points serve as distribution channels, enabling potential listeners to sample our content. Our growth strategy encompasses three core charters:

    Organic Content Marketing: We strategically distribute our content through various organic channels, such as YouTube, Facebook, Instagram, and blog posts. By leveraging these platforms, we aim to reach and engage with a broader audience, organically expanding our listener base.

    Paid Channels: To target potential customers effectively, we employ paid advertising channels. By investing in these channels, we can reach specific demographics and regions, driving targeted growth and brand exposure.

    Growth Partnerships: We actively seek out partnerships with apps,  platforms and influencers that align with our target audience. These collaborations allow us to tap into the listener base of our partners, introducing our content to potential customers who may find it valuable and relevant.

    On the trends of FM in India and globally

    The fiction audio storytelling, as we call them audio series, has experienced a remarkable surge in demand and adaptability across all markets. Notably, we have surpassed 100 million installations and this serves as a significant validation of the immense potential within this category.

    India holds a special place for us as it marks our initial launch and will continue to be one of our primary markets. It serves as a dynamic playground for us to create innovative content, refine our product offerings, and develop effective growth strategies.

    With unwavering ambition, our goal is to ascend to become the largest global Audio OTT platform in the foreseeable future. We are confident that our current trajectory favours us to achieve this audacious objective. By leveraging our success in India and proven appetite among global audiences, we are poised for unprecedented growth and continued success.