Audio Series is the new entertainment category, reveals Pocket FM

Pocket FM, the global audio series platform, today released Pocket FM #Rewind2022 highlighting key consumption and listener community trends on the platform during the year.

Wrapping up 2022

Pocket FM has expanded its community to 80 million+ listeners and 500,000+  creators. With 100,000+ hours of content, and an addition of 1500+ audio titles, the platform witnessed 45 billion+ minutes of entertainment with an average listener bingeing for more than 110 minutes daily. 

Industry data reveals 45 minutes of average daily users time spent on short video platforms, while audio OTTs and video OTTs clocks 65 minutes and 70 minutes respectively. On the contrary, average daily listener time spent is over 110 minutes on Pocket FM.

Over 90% of the listeners’ spent time is attributed to audio series, a long-form serialised audio fiction category, pioneered and nurtured by Pocket FM. The platform has refreshed its library with 1000+ audio series titles in 2022.

Eyes are busy, ears are free!

Audio Series is the new X-factor in the entertainment space. The long-form content of Pocket FM has brought binge-listening behaviour into audio space. Audio Series are now the entertainment boosters for listeners during commute, household chores, work hours, and even, during leisure hours, reiterating the strength of audio series’ to keep the audience engaged, and entertained 24x7, irrespective of their activities. 

Leisure hours account for nearly 50% of total listening time spent by consumers. Time slots between 9 am -12 pm and 9 pm -12 am have the maximum number of listeners tuned in, accounting for 35% of the total daily time spent on Pocket FM. The listening pattern throughout the day follows similar patterns. The listener community of Pocket FM has a healthy gender ratio, with males and females having 55% and 45% presence, respectively.

85% of listeners are below the 35 year age-bracket though the listener demography spreads across all age-groups.

Content has no boundaries!

The diverse content library of Pocket FM, dominated by Hindi and other Indian languages, has garnered immense popularity across corners of the country. This does not deter its Tier I audiences from getting entertained. Similarly, the platform’s English content is also consumed in smaller towns.

According to the Government of India, there are eight Tier I cities in India. These eight cities contribute 15% of Pocket FM’s listener community. Six of these eight cities are listed among Pocket FM’s Top 10 cities.

While Delhi and Mumbai lead the Top 10 cities, others like Lucknow, Indore, Patna also fare in the list of Pocket FM top listeners, including little-known Botad from Gujarat.

Audio-Series, the new binge factor!

Audio-Series has now evolved to the stature of TV-Series. Pocket FM’s long-form serialized fictional storytelling has become the prime entertainment format for their 80 million+ listener community, contributing to over 90% consumption. These audio-series range between 500-1000 episodes. Sometimes they reach 1500 episodes based on the script and listeners’ demand.

The Top 10 Audio Series on Pocket FM have garnered over 1.4 billion plays, leading to more than 10 billion minutes of streaming. 

People do pay for audio, definitely for great content!

Pocket FM witnessed 10X growth in content revenue, exceeding US $25 million Annualised Revenue Run-rate (ARR) in October, using micropayment-led content monetisation. Monthly transactions exceeded a million in November 2022.

Stimulated by binge-listening, the listener community applauded the introduction of the micropayment model. The pay-as-you-listen model along with lower entry price points created wonders in Pocket FM’s revenue growth.

Rohan Nayak, CEO, Pocket FM said, “With an objective to redefine the entertainment space, Pocket FM has been able to create the binge factor through its audio series. Furthermore, our audio series have managed to drive similar consumption behaviour, sometimes even better, witnessed by any television content. It reflects in our listeners’ intent to pay for audio series, and increasing time-spent on the content.”

Creating Audio Celebrities

Pocket FM is powered by their 500,000+ creator community, consisting of writers and voice actors. The Pocket FM creator community is provided with a stage to showcase their talents and posit the possibilities of being transformed into audio celebrities.

With continued focus towards the creator economy, Pocket FM has invested over US$10 million to incentivise the creators for their contribution and  keep them motivated to the platform. The average earnings of top creators at Pocket FM surpassed US$15,000.

“Our creator community is an integral part of our journey, and we will continue to stay invested towards building audio celebrities. This year has been a turnaround point for our growth journey, building the foundation for years to come.” added Nayak.