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Pocket FM Company Research Report



Company Overview



Name


Pocket FM

Mission of the Company


Pocket FM aims to enrich the lives of millions of listeners globally by providing engaging audio series that transcend cultural and geographical boundaries, sparking imaginations and fostering a shared love for storytelling.

Founding Details


  • Founded: 2018

  • Founders: Rohan Nayak, Nishanth KS, Prateek Dixit


Key People


  • Rohan Nayak - Co-founder and CEO

  • Nishanth KS - Co-founder

  • Prateek Dixit - Co-founder


Headquarters


Pocket FM
8, 20th Main Rd, KHB Colony, Koramangala Industrial Layout, Koramangala, Bengaluru, Karnataka 560034, India

Number of Employees


Around 800 employees with plans to add 500 personnel globally.

Revenue


  • Annual Recurring Revenue (ARR): Over $150 million as of the latest update.

  • Key Markets: U.S. and India


Known For


Pocket FM is known for its diverse range of audio series, including genres like thrillers, romances, horror, drama, etc. It has pioneered binge-listening and created a unique market for audio storytelling.

Products



Product: Audio Series


Description


Pocket FM offers a variety of audio series featuring short episodic content that users can consume at their convenience. The platform supports binge-listening, allowing users to listen to multiple episodes in one go either for free or through a pay-as-you-go coin system.

Key Features


  • Content Library: Over 100,000 hours of content and more than 400,000 episodes.

  • User Engagement: An average user spends 115 minutes daily on the platform.

  • Microtransaction Model: Allows users to unlock content through in-app purchases using coins.

  • Genres: Romance, horror, fantasy, suspense, sci-fi, mythology, and more.


Product: Pocket Novel


Description


A writing platform akin to Wattpad, where writers can create and share their stories, which can be monetized through a coin-based system.

Key Features


  • Writer Community: Over 250,000 writers onboard.

  • Revenue Generation: Writers earn through a revenue-share program and additional incentives for hitting writing goals.

  • Launch: Planned $40 million investment for development.


Product: Audiobooks


Description


Similar to Audible, Pocket FM offers audiobooks available through a pay-to-unlock strategy. Currently focused on the Indian market.

Key Features


  • Limited Availability: Runs only in India with existing partnerships.

  • Pay-to-Unlock: Users can unlock full audiobooks through coin purchases.


Recent Developments



Recent Developments


1. Funding
  • Secured $103 million in Series D funding led by Lightspeed Ventures and Stepstone Group.

  • Total funds raised amount to $196 million, with a latest valuation of $750 million.


2. Expansion
  • Plans to expand into Europe and Latin America after positive outcomes in the U.S. market.

  • Significant user engagement in the U.S. with an average daily listening time of 135 minutes.


3. Creator Economy
  • Intends to invest $40 million in its Pocket Novel platform to further boost content creation.

  • Increased focus on the writer's community to develop richer content.


4. Generative AI
  • Testing AI tools for converting written content into audio formats.

  • Collaborating with Eleven Labs to offer writers 50 AI-powered voices.

  • Developing internal AI tools to enhance the storytelling process and efficiency for creators.


New Partnerships


  • Working with Eleven Labs to integrate AI voices into the narrative, aiding in the conversion of written content to audio books.


New Product Features


  • Continued development of platforms ensuring exclusive content and fostering a dedicated community for global creators.

  • AI-powered tools to help creators increase productivity and output quality.


High-Grossing Content


1. Insta Millionaire
  • Revenue: Over $15 million

  • Usage: Registered almost 1.5 billion plays.

  • Plot: Follows a young man who transitions from an opulent lifestyle to a poverty training program and back.


2. Saving Nora
  • Revenue: Over $18 million

  • Usage: Crossed 500 million plays.

  • Plot: Chronicles a woman’s journey of redemption and success after being shunned by society and family.


3. The Return
  • Revenue: Over $12 million

  • Usage: Detailed usage not available.

  • Plot: A woman returns to her hometown under mysterious circumstances after years of being away.


Conclusion



Pocket FM has successfully positioned itself as a leader in the audio entertainment industry, combining high-quality content with innovative monetization strategies. By focusing on user engagement and leveraging AI for content creation, the company is poised for significant growth in the global markets.

Contacts


  • Support: care@pocketfm.in

  • Legal: legal@pocketfm.com

  • Grievances: grievances@pocketfm.com (Attn: Anurag Sharma)