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News on Medial
Pocket FM’s parent company rolls out AI-powered comics platform
YourStory
·
5m ago
Medial
Pocket Entertainment has launched Pocket Toons, an AI-powered comics platform that utilizes AI for storytelling, significantly enhancing content creation speed and cost-efficiency. Using Blaze!, an AI studio, it aims to achieve storytelling 20 times faster than industry norms, while maintaining quality. The company plans a $15 million investment in 2025 for scaling and targets $100 million in revenue by 2026. Pocket Toons, hosting over 30 titles, engages users significantly, reflecting the growing comics industry interest.
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Pocket Entertainment elevates Umesh Bude to CTO
Entrackr
·
1m ago
Medial
Pocket Entertainment elevates Umesh Bude to CTO Pocket Entertainment, the parent company of Pocket FM, Pocket Toons, and Pocket Novel, has elevated Umesh Bude to Chief Technology Officer (CTO). Previously Senior Vice President of Engineering, Umesh will now lead the company’s technology strategy, focusing on developing the future of AI-powered storytelling across its platforms. As CTO, Umesh will oversee the end-to-end tech stack at Pocket Entertainment and spearhead innovations to scale its products globally. His responsibilities will include designing scalable systems, advancing generative AI capabilities, and delivering technology-led innovations to empower both creators and consumers. “It’s a privilege to take on this role at a time when technology and creativity are deeply intertwined at Pocket Entertainment. I look forward to driving the next wave of innovation, where technology and AI are not just enablers, but storytellers in their own right,” said Bude on his promotion. Umesh will continue to report to Prateek Dixit as the company aims to consolidate its position at the intersection of entertainment and technology. Earlier this year, Pocket Entertainment launched Pocket Toons, an AI-first comics (webcomics) platform that uses AI to transform storytelling and content creation. In March 2024, Pocket FM secured $103 million in its Series D funding round, led by Lightspeed and joined by Stepstone Group. The company has raised $196.5 million in total funding and was valued at $750 million in its last equity round. Pocket FM’s global revenue spiked to Rs 1,051.97 crore in FY24 from Rs 176.36 crore in FY23. The Bengaluru-based company also improved its economics as its losses narrowed by 21% to Rs 165 crore in FY24.
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Pocket FM’s scale soars 9X to Rs 150 Cr in FY23
Entrackr
·
1y ago
Medial
Pocket FM, an audio series platform, has experienced a significant increase in its operating scale, with revenue from operations soaring 8.7 times to Rs 148.7 crore in FY23. The company also managed to reduce its losses by 73.5%. Pocket FM's user base has grown, with approximately 33 million downloads in 2023. While the company's revenues have seen impressive growth, sustained profitability remains a challenge in the highly competitive Indian subscriptions market. Pocket FM is currently in talks to raise $80-100 million from existing and new investors.
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Pocket FM’s fresh fundraise likely to value audio streaming startup at $1.2 billion
Economic Times
·
1y ago
Medial
Pocket FM, an online audio streaming platform, is reportedly nearing a new fundraising round that could value the company at around $1.2 billion. The startup is in talks with the Abu Dhabi Investment Authority for the funding, which is expected to include a secondary sale of shares. Pocket FM recently announced a $103 million equity funding round, led by Lightspeed Ventures, bringing its valuation to $750 million. The company, which offers audiobooks and serialized audio content, has over 130 million registered users, with a significant portion based in the US.
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VC-backed Pocket FM’s CFO on profitability goals, global expansion and more
VCCircle
·
3m ago
Medial
Pocket FM, an early entrant in India's audio entertainment sector, continues its strong topline growth despite increased competition. Supported by investors like Lightspeed India Partners, Tencent, and Tanglin Venture Partners, the Bengaluru-based platform focuses on achieving profitability goals and expanding globally. Anurag Sharma, CFO of Pocket FM, discusses their strategic initiatives amid the competitive landscape, emphasizing the importance of innovation and market adaptation to sustain their position in the industry.
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Pocket FM’s FY23 revenue jumps over 7X to INR 131 Cr; losses shrink by 56%
Inc42
·
1y ago
Medial
Indian audio OTT platform Pocket FM's India arm recorded a 56% reduction in net loss to INR 75.7 crore ($10.2 million) for FY2022-23, as revenue increased and ad expenses were cut. The startup reported a net loss of INR 171.6 crore in the previous fiscal year. Pocket FM's total revenue surged 647% to INR 131 crore in FY2022-23, with advertising revenue increasing 1,120% to INR 12.17 crore and microtransaction revenue rising 417% to INR 82.8 crore. The company provides audio content in various Indian languages, including stories, novels, and podcasts.
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Pocket FM cuts production cost using AI, generates over 50,000 shows
YourStory
·
4d ago
Medial
Pocket FM has significantly reduced production costs by using AI, producing over 50,000 AI-generated shows over the past year. The AI-driven approach enhances content creation efficiency, enabling rapid and cost-effective production without compromising quality. This transformation has facilitated a significant revenue increase, making the company profitable in core markets like Europe. Pocket FM continues to expand its AI-powered entertainment platform globally, supporting multiple languages and enhancing its storytelling capabilities across various formats.
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Pocket FM partners with MoEngage to enhance its customer engagement using data-driven insights
IndianStartupNews
·
1y ago
Medial
Pocket FM, an audio series platform, has partnered with MoEngage to enhance customer engagement using data-driven insights. MoEngage will help Pocket FM tailor communications based on different stages of a listener's journey to create more personalized experiences. MoEngage's AI-powered analytics and advanced delivery capabilities are expected to improve user experience on the platform. MoEngage offers a customer engagement platform that provides insights into customer behavior and facilitates engagement across various digital channels, serving over 1,200 global brands. Pocket FM offers long-form audio content, including shows, stories, novels, and podcasts.
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Pocket FM revenue soars to Rs 1,000 Cr in FY24 boosted by US expansion, subscription growth
YourStory
·
8m ago
Medial
Pocket FM, the audio series platform, reported a 496% increase in global revenue to INR 1,051.97 crore in FY24. The growth was fueled by its microtransaction-led subscription model and expansion into international markets. Subscription revenue grew nearly six-fold, reaching INR 934.73 crore. The company also witnessed a 7X increase in advertising revenue, driven by increased user engagement on the platform. Global markets, particularly North America, played a significant role in the revenue growth. Pocket FM utilizes an AI-powered blockbuster engine to curate stories with mass appeal and has collaborated with over 250,000 writers to adapt stories for diverse audiences. The focus on operational efficiency and innovative monetization strategies has brought the company closer to profitability.
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Pocket FM logs 68% revenue growth in FY25
Economic Times
·
3m ago
Medial
Pocket FM, an audio series platform, achieved a 68% revenue growth in FY25, reaching Rs 1,768 crore, driven by its expanding content catalog and key markets like the US and India. The annual recurring revenue stands at Rs 2,000 crore. The platform, now known as Pocket Entertainment, offers diverse genres and is expanding into Europe and Latin America. With AI investments reducing costs, the company aims for further growth despite recent layoffs. Pocket FM is also exploring fresh capital opportunities.
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Mphasis Rolls Out AI-Powered Document Processing Platform
Inc42
·
1y ago
Medial
Bengaluru-based IT solutions provider, Mphasis, has introduced an AI-powered intelligence platform, DeepInsights Doc AI, for document processing. The platform uses artificial intelligence to extract text-specific information from various document formats and layouts. This information can then be integrated with other IT systems to generate actionable insights. Mphasis believes that this platform will significantly improve productivity, customer service, and risk management for enterprise clients. Founded in 1998, Mphasis leverages next-generation technology to assist businesses in digital transformation. The technology market is expected to generate $1,364 billion in revenue by 2024.
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