Pocket FM's Path to Profitability Amidst Global Expansion

Pocket FM, an audio entertainment platform, reduced its global losses by 21% to Rs 165 crore in FY24 while significantly increasing revenue to Rs 1,052 crore. With a strong presence in the US and India, and expansion into Europe and Latin America, Pocket FM is nearing profitability with innovative models.

Pocket FM, a prominent audio entertainment platform, has successfully reduced its global losses by 21% to Rs 165 crore for the fiscal year 2024. The company reports steady advances towards profitability, despite recording Rs 208 crore losses in the previous financial year.

In a remarkable growth trajectory, Pocket FM's global revenue soared to Rs 1,052 crore in FY24, compared to Rs 176 crore in FY23. The company has expanded its reach, establishing a stronghold in the US and India, while recent efforts have extended its influence to Europe and Latin America.

With strategic market penetration, the Bengaluru-headquartered company draws 70% of its revenue from the US, 20% from India, and the remaining 10% globally. The surge in revenue is driven by a microtransaction-led subscription model and increased advertising streams, reflecting its commitment to redefining the entertainment sector.

(With inputs from agencies.)