Pocket FM, with 3,000 employees, is rapidly becoming the “Netflix for audio storytelling,” boasting 200,000 listeners and a projected 100 billion streaming minutes in 2024. Founded in 2018, they found success in 2021 by focusing on audio series, a serialised format akin to TV shows, featuring daily episodes, voice acting, and diverse genres. This format engages listeners for 115 minutes, nearly double that of podcasts or audiobooks, driven by exclusive content and high drama. Pocket FM fills a gap in long-form audio entertainment, offering 24/7 engagement at a fraction of video production costs. Users listen during various activities, seeking escapism, low cognitive load content, and emotional connection with characters.
According to Ashu Behl, Country Head – Germany and UK, PocketFM, the organisation’s monetisation strategy relies heavily on microtransactions, offering two free episodes daily and charging for additional content via coin packs. This model drives high user retention and generates substantial Annualised Revenue Run Rate (ARR), projected at $250 million in 2024, with minimal reliance on ads, this has been achieved in 30 months and is not just projected. Their market-focused content strategy involves global IP partnerships, market suitability testing, localisation with local artists, and video promos. They leverage AI for personalised recommendations, blockbuster prediction, and writer tools, enabling faster content creation and identification of hit shows. With blockbusters like “Saving Nora” generating $31 million, Pocket FM is shaping the future of audio entertainment by delivering consistent, engaging content.
image © Hedda Axelsson
