Pocket FM Achieves Rs 1,000 Crore Revenue, Redefining Audio Entertainment

Pocket FM, the popular audio entertainment platform, has reached a major milestone by crossing Rs 1,000 crore in revenue for FY 2024. This remarkable feat marks an astounding 496% year-on-year growth from Rs 176.36 crore in FY 2023. With its unique blend of serialized audio storytelling, innovative micro transactions, and global expansion, Pocket FM is rewriting the rules of entertainment.

The platform’s global revenue stood at Rs 1,051.97 crore, fueled by substantial increases in subscription and advertising income. It also reported a 21% reduction in losses, from ?208 crore in FY 2023 to ?165 crore in FY 2024, reflecting improved operational efficiency as the company moves closer to profitability.

Key Financial Highlights

• Subscription Revenue: Subscription income soared nearly sixfold, from Rs 160.05 crore in FY 2023 to Rs 934.73 crore in FY 2024, showcasing the platform's ability to cultivate a dedicated base of paid users.
• Advertising Revenue: Advertising revenue grew over sevenfold, from Rs 12.5 crore to Rs 89.34 crore, highlighting the platform’s growing appeal to advertisers.
• Operational Efficiency: The expense-to-earnings ratio improved significantly, dropping from 2.18 in FY 2023 to 1.16 in FY 2024, underlining disciplined cost management.
• Loss Reduction: Losses decreased by Rs 43 crore, from Rs 208 crore in FY 2023 to Rs 165 crore in FY 2024.

Revolutionizing Entertainment with Serialized Audio

Pocket FM’s unique storytelling model has propelled its success, with over 30 audio series surpassing ?10 crore in revenue and seven series exceeding Rs 100 crore. Leveraging artificial intelligence, the platform produced more than 40,000 audio series, contributing Rs 25 crore to its earnings.

The platform also recorded over 100 billion minutes of streaming and 45 million microtransactions, demonstrating the strong engagement of its 200-million-strong listener base.

Global Expansion

While India remains a core market, Pocket FM is actively expanding into international territories, including the United States, Europe, and Latin America. Investments in localized content, advanced technology, and strategic user acquisition are driving its global footprint, positioning the platform as a leader in entertainment innovation.

Leadership Insights

“This growth reflects our relentless efforts to redefine the entertainment landscape. By leveraging AI, we are enhancing operational efficiency and creating smarter processes that optimize content delivery and monetization,” said Anurag Sharma, CFO of Pocket FM. “Our vision is clear: to establish Pocket FM as a global entertainment platform that consistently pushes the boundaries of content experiences.”

Pocket FM’s disciplined growth strategy and innovative approach to audio entertainment have positioned it as a key player in the digital content industry. With its global ambitions and focus on profitability, the platform is set to continue transforming the way audiences experience stories, one sound wave at a time.