Pocket FM’s India arm has reported a surge in revenue, reaching ₹131 crore, while also reducing its loss (before tax) by 56 per cent, amounting to ₹75.7 crore. The company has experienced an increase in microtransaction revenue (content monetisation) to ₹82.8 crore, with advertising revenue soaring to ₹12.17 crore. Pocket FM is currently at a pilot stage for its brand and ad solutions streams.
Founded in 2018 by Rohan Nayak, Prateek Dixit, and Nishanth KS, Pocket FM offers audio content in long formats, audio shows, stories, novels, and podcasts. The platform hosts audio content with the help of writers and voice actors, creating content in multiple Indian languages including Tamil, Telugu, Malayalam, Bangla, Hindi, Kannada, and Marathi.
The company’s overall expenses grew by 9.32 per cent to ₹206.78 crore. While advertising and marketing expenses were brought down by 45 per cent to ₹70.57 crore, the company’s commitment to expanding its content library is evident with content expenses more than doubling to ₹21.29 crore in FY23.
Employee spending has witnessed an increase from ₹30.7 crore in 2022 to ₹73.3 crore in 2023 to align with the company’s growth strategy. Anurag Sharma, Chief Financial Officer at Pocket FM, stated, “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.”
