Audio series leads audience engagement, beats online music, videos: Pocket FM’s #Rewind2022

“The top 10 audio series on Pocket FM have garnered over 1.4 billion plays, leading to more than 10 billion minutes of streaming,” the platform said. “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.”

Rohan Nayak, CEO, Pocket FM, said Pocket FM has been able to create the binge factor through its audio series. “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,” he said.

These observations were released in the Pocket FM #Rewind2022 report that highlights the key consumption and listener community trends on the platform during the year.
The platform stated that it has expanded its community to over 80 million listeners and more than 500,000 creators. With over 100,000 hours of content, and an addition of over 1500 audio titles, the platform said it witnessed more than 45 billion minutes of entertainment with an average listener bingeing for more than 110 minutes daily.

“Industry data reveals 45 minutes of average daily user’s time spent on short video platforms, while audio OTTs and video OTTs clocks 65 minutes and 70 minutes, respectively,” PocketFM said in a statement. “Over 90% of the listeners’ spent time is attributed to audio series, a long-form serialised audio fiction category by Pocket FM. The platform also claimed that it has refreshed its library with 1000+ audio series titles in 2022.”

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It went on to add that audio series is the ‘new X-factor’ in the entertainment space. Leisure hours account for nearly 50% of total listening time spent by consumers and 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 report further claimed that the listener community of Pocket FM has a healthy gender ratio, with males and females having 55% and 45% presence, respectively. Around 85% of listeners are below the 35-year age-bracket though the listener demography spreads across all age-groups.

The platform also said it invested over $10 million to incentivise creators for their contributions and claimed that the average earnings of top creators at Pocket FM surpassed $15,000.