Pocket FM Reported Huge Loss In FY22 Of INR 171.6Cr

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Indian audio over-the-top (OTT) platform Pocket FM reported a net loss of INR 171.6 Cr ($23 Mn) in the financial year 2021-22 (FY22), a 10X increase from the previous year. The company’s operating revenue grew 11.3X to INR 17 Cr ($2.3 Mn) from INR 1.5 Cr ($200,000) in FY21, while its expenses increased 10X to INR 189.14 Cr ($25.5 Mn) from INR 19 Cr ($2.5 Mn) in the previous year. The largest chunk of expenses came from other expenses, which included rent, advertising and promotional costs, and rose to INR 158.2 Cr ($21.3 Mn) from INR 14.7 Cr ($2 Mn) in FY21. Overall, Pocket FM spent INR 11.1 ($0.15) to earn every INR 1 ($0.013) in operating revenue. Pocket FM primarily earns revenue from membership and subscription fees and offers audio content in eight languages.Pocket FM is an Indian audio over-the-top (OTT) platform that was founded in 2018 by Rohan Nayak, Prateek Dixit, and Nishanth KS. The platform offers a range of audio content in long formats, audio shows, stories, novels, and podcasts. It enlists the talents of writers and voice actors to create content in eight languages including Hindi, Tamil, Telugu, Malayalam, Bangla, English, Kannada, and Marathi. Pocket FM primarily earns revenue from membership and subscription fees. The platform has raised a total of $93.5 million in funding till date and is backed by investors such as Lightspeed and Tanglin Ventures.