Pocket FM Cuts its FY24 Loss by 21% to Rs 165 Crore

Pocket FM, an audio series platform, decreased losses by 21% to Rs 165 crore in FY24 from Rs 208 crore the previous fiscal year, highlighting the company's focus on operational efficiency and profitability.

The company also reported a global revenue of Rs 1,051.97 crore, a remarkable 496% increase from Rs 176.36 crore in FY23. Advertising revenue grew by more than sevenfold, from Rs 12.5 crore to Rs 89.34 crore.

The company's microtransaction-driven subscription income surged considerably, rising from Rs 160.05 crore in FY23 to Rs 934.73 crore in FY24.

Pocket FM's 30 audio series hit revenue milestones of Rs 10 crore each, with seven topping Rs 100 crore.

The platform saw over 100 billion minutes of streaming, fueled by a 200 million strong listener base. It processed approximately 45 million transactions using its microtransaction approach. Over 40,000 AI-powered audio programs generated Rs 25 crore in income.

Pocket FM is expanding globally spreading its footprints across key countries such as the United States and India while also entering new regions such as Europe and Latin America.

"This growth reflects our relentless efforts to redefine the entertainment landscape. With a strong emphasis on harnessing AI, we are not just improving operational efficiency but also developing smarter processes that optimize content distribution and monetization. Our mission is still clear: to build Pocket FM as a global entertainment platform that continuously pushes the boundaries of content experiences," said Anurag Sharma, Chief Financial Officer, Pocket FM.