Pocket FM, the popular audio entertainment platform, has achieved a significant milestone by crossing ₹1,000 crore in total revenue in FY24. The platform also reported a remarkable 7x increase in ad revenue, which surged to ₹89.34 crore during the fiscal year. This exponential growth underscores Pocket FM’s expanding market presence and its ability to attract advertisers at scale. The platform’s success is attributed to its diverse content offerings, innovative monetization strategies, and a loyal listener base that continues to grow.
As audio streaming and storytelling gain traction in India, Pocket FM is poised to further solidify its position as a leader in the audio entertainment industry. The company has a strong foothold in the US and India and has recently forayed into Europe and Latin America. About 70% of the Bengaluru-headquartered firm’s revenue comes from the US, about 20% from India, and 10% from the rest of the world.
“As Pocket FM inches closer to profitability and strengthens its global presence, its unwavering focus on innovation, disciplined growth, and operational efficiency continues to set new benchmarks in the entertainment industry. The company’s vision of creating immersive, scalable, and profitable entertainment experiences remains on a clear upward trajectory,” the statement said.
Pocket FM’s microtransaction-led subscription revenue increased from Rs 160 crore in FY23 to Rs 935 crore in FY24, it further said. Pocket FM has a freemium and microtransaction model. In the microtransaction model, listeners can pay only for the episode/series to which they want to listen. The freemium model allows the consumer to explore and hear a few minutes of any series for free.
The company’s advertising revenue grew from Rs 12.5 crore in FY23 to Rs 89.34 crore in FY24. Offering more than 75,000 audio series, Pocket FM has a global community of over 200 million listeners.
“This growth reflects our relentless efforts to redefine the entertainment landscape. With a sharp focus on leveraging AI, we are not only enhancing operational efficiency but also creating smarter processes that optimise content delivery and monetisation. Our vision remains clear: to establish Pocket FM as a global entertainment platform that consistently pushes the boundaries of content experiences,” Pocket FM CFO Anurag Sharma said.
