Pocket FM clocks 75 billion minutes of streaming time in 2023: Report

Audio series platform Pocket FM released its “Rewind2023: How India Got Entertained This Year” update highlighting the consumption behaviour and trends on the platform during the year.

Pocket FM said in a statement, “In 2023, the platform has exceeded 75 billion minutes of streaming, with an average monthly streaming of over 6 billion minutes. The listener community has crossed 130 million across the globe. It has registered over 20 million transactions in 2023, closing the year with 2.5 million monthly transactions.”

It further said that Delhi NCR, Mumbai and Bangalore turned out to be the most active cities, with over 5 billion minutes being streamed from here.

“Emerging cities like Jaipur, Lucknow, Surat and Pune also ranked in Pocket FM's Top 10 Indian cities for 2023,” it added.

31.4% of consumption on the platform occurred during leisure time (9 pm - 6 am). Morning (6-9 am) and evening (6-9 pm) hours saw 25.2% consumption. However, the maximum spike was witnessed during productive hours (9 am - 6 pm) with 43.4% consumption. An almost equal gender representation was seen, with males constituting 55% of the audience. Gen Z holds the majority at 39%, followed by millennials at 30% and GenX at 21%.

In 2023, the top genres were Drama, Romance, and Sci-Fi & Fantasy. Males showed a preference for Drama series, while females exhibited a greater interest in Romance. Surprisingly, both genders demonstrated equal excitement for Sci-Fi and Fantasy series consumption.

The platform doubled its audio series catalogue to end the year with 2000+ titles.

Pocket FM said that 17 audio series surpassed 100 million plays, while 40 titles exceeded 50 million plays. In terms of revenue, 13 audio series surpassed the Rs10 crore mark, and 25 series achieved Rs 5 crore in collections. Insta Millionaire turned out to be a mega-blockbuster with Rs100 crore revenue collections.

The standout shows of the year, 'Insta Millionaire,' 'Ek Ladki Ko Dekha To,' and 'Devil Se Shaadi,' emerged as the biggest hits, leading in both playtime and revenue collection in India.

Rohan Nayak, Co-founder and CEO, Pocket FM, said, “This year, audio series as a category has surged in popularity, firmly establishing as a mainstream entertainment choice. We have emerged as a leading entertainment destination, boasting an average daily time spent of over 115 minutes and witnessing 24x7 entertainment consumption throughout the day. This year our blockbuster series Insta Millionaire has crossed Rs.100 crores in revenue, possibly the first entertainment title in audio to achieve this landmark. We predict this trend to get stronger, with audio series rising to prominence among the top three forms of entertainment, inspiring and complementing the storytelling in movies, web series, and TV.”

The audio platform went on to share that its Pocket Novel, the online reading platform from Pocket FM, has grown significantly, with its revenue increased by 500%. “Transforming into a literary haven, its writer's community has grown to exceed 150,000 writers.”

More than 25 novels garnered over 10 million reads, with 250+ novels hitting the 1 million reads mark. Additionally, 75+ novels from Pocket Novels were turned into audio series on Pocket FM.

Moni Singh, writer of Devil Se Shaadi, turns out to be the top earner, followed by other leading writers like Cerica (alias Jigyasa) and Kavya Sharma. The top 10 writers have cumulatively earned over Rs.2 crores.

“Audio series as a category has been instrumental for writers, enabling them to share their stories with millions across the world. Thousands of writers are joining our community every day, inspired by the success stories of existing writers, turning us into a launchpad for storytellers through audio series. To support and reward our writers, we have set aside a Writers’ Fund of Rs. 250 crores for the writers community, ensuring they stay financially motivated in their creative journey,” added Nayak.

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