Announcements
Subeer Bakshi joins Pocket FM as Head - People & Culture
Prior to Pocket FM, Bakshi was heading Talent Strategy at PhonePe December 14, 2023; India – Audio Series platform Pocket FM today announces the appointment of Subeer Bakshi as the Head of People & Culture. Subeer brings over two decades of international and multi-industry experience to his new role, having previously held key roles in organizations such as Mercer, Aon, Willis Towers Watson and Bajaj Finserv. In his role at Pocket FM, Subeer will spearhead the buildout of people process and culture anchors that will enable the hyper-growth of the company. His experience of building high performing teams in fast-growing companies is expected to play a pivotal role in shaping the company's expansion on a global scale. Subeer Bakshi expressed his enthusiasm for the new role, saying, "I am excited to join the rocketship that is Pocket FM. Through a series of innovations, it has powered its way through to a promising market opportunity, building a new category in the entertainment landscape. As the company is scaling up globally, I look forward to contributing to its growth by aligning people's practices to its unique business needs, building on the foundation of an already exceptional team." Prior to this, Subeer was heading Talent Strategy at PhonePe and contributed to their efforts in scaling the company to become a market leader. At Pocket FM, he will work closely with Rohan Nayak, Cofounder & CEO, to build the organisation at a global scale. "Subeer's extensive background in the people function, building culture and his track record in building strong, collaborative teams make him a valuable addition to our leadership team," said Rohan Nayak, Cofounder and CEO, Pocket FM. "We are confident that his expertise will further strengthen our commitment to creating an enabling culture and propel Pocket FM to become an employer of choice" About Pocket FM: Founded in 2018, Pocket FM was built with a vision to redefine the audio OTT space by pioneering the audio-series category. We pride ourselves in embedding the storytelling elements with a layer of content personalisation in the serialised format that resulted in the emergence of “binge listening” as a consumption habit. We have emerged as the preferred digital audio destination for a refined storytelling experience with the audio-series format, riding on our diverse and engaging content. Available on iOS and Android, click here to download Pocket FM. For more information, please get in touch with communications@pocketfm.com
" 90% of American Internet users tune into audio for entertainment; 63% find audio helpful to destress: Pocket FM Survey"
90% of American Internet users tune into audio for entertainment; 63% find audio helpful to destress: Pocket FM Survey However, American Internet users prefer shorter episodic audio content, with 43% liking 5-15 minutes and 38% preferring 15-30-minute episodes. Los Angeles, Calif. December 12, 2023 — Audio Series platform Pocket FM today unveils the findings of its US-edition entertainment consumption survey, Digital Entertainment Insights: Audio Takes Centerstage. The survey, conducted among 4,394 internet users in the US, aims to understand the audio industry and delves into internet users' preferences, behaviors, and attitudes towards various forms of digital entertainment. In a nation defined by its diverse tastes and cultural shades, the findings reveal interesting insights into the dynamic habits of American entertainment patterns: 90% of users engage with audio entertainment daily, reflecting the influence of audio in their daily lives. Storytelling takes the spotlight, inspiring half of users to prefer audio, while one-third of users opt for audio due to its convenience, and another third values it for the diverse range of content. While consuming audio content, 63% of Americans favor smartphones, 15% opt for tablets, and 22% spread their audio consumption across Smart TVs, Desktops, and other devices. Genres such as Drama (21%), Romance (23%), Suspense/Thriller (16%), and Sci-Fi (15%) emerge as top choices. Regarding content duration, 43% of US listeners lean towards shorter episodes, spanning 5-15 minutes, while 38% prefer a slightly longer duration of 15-30 minutes. Only 18% are inclined toward lengthier content, opting for episodes lasting approximately 45-60 minutes. As audio entices the imagination and creativity, 45% visualize the storytelling while listening, while the remaining 55% lean toward a visual experience, desiring the audio storytelling to be adapted on video platforms, such as movies, TV series, or web series. Trust in content recommendations emerged as a crucial factor, with 38% relying on platform recommendations, 31% seeking guidance from social media, and surprisingly, only 3% swayed by influencers. The survey uncovered that audio serves not only as an entertainment source but also as a productive tool, with 65% of users leveraging audio to destress, 17% to avoid distraction, and 17% to enhance focus, showcasing its versatility in meeting various user needs. Additionally, 62% of US listeners are keen on recommending their favorite audio content. When it comes to spreading the word, good old-fashioned word of mouth leads the pack, with 42% of users relying on recommendations from friends. Social media is a little behind, influencing 34% of users. Zooming into specific audio content, audio series steal the spotlight, with 67% giving 5-star recommendations. In comparison, 42% give 5-star ratings to TV entertainment but get a rating of 3 or below from 37% users. Online music and video OTT also fare well, with 53% and 58% giving 5-star ratings, respectively, but rated 3 or below by 29% and 24% of users, highlighting a shift in the audience's digital entertainment preferences and reflecting fatigue with the existing format. While audio series emerged as the most loved and preferred entertainment format, the findings have shown that 36% of users shifted from music to audio series, 22% of users replaced audio series with video streaming, and 18% moved from audiobooks and podcasts, illustrating the dynamic evolution of American entertainment preferences. The survey reveals that 29% of American users lean toward subscriptions, though 32% are more inclined to pay for individual episodes, signaling a potential shift in monetization strategies towards microtransactions. Meanwhile, 39% prefer ad-supported models and other promotional offerings. Speaking on the survey findings, Rohan Nayak, CEO and co-founder of Pocket FM, said, "This trend shows that people want more immersive experiences and suggests a bigger shift that encourages away from constantly looking at screens for entertainment while trying to distress. The rising popularity of audio series, where people binge-listen without needing to stare at a screen, is a clear sign of this change. It's an exciting time for audio, emerging as the new lifestyle, as we find new ways to create engaging experiences that really connect with our users.” Methodology The survey, with a total sample size of 4,394 internet users in the US, was conducted between 28th October 2023 and November 15, 2023. Regarding gender distribution, the respondents comprised 47% males and 53% females. Delving deeper into age demographics, 64% of the sample are millennials, Gen Z represents 32% of the sample size, and only 4% belongs to Gen X. Geographically, the survey has a balanced representation, with 40% of respondents hailing from urban areas and 32% and 28% come from semi-urban and rural regions respectively. About Pocket FM: Founded in 2018, Pocket FM was built with a vision to redefine the audio OTT space by pioneering the audio-series category. We pride ourselves in embedding the storytelling elements with a layer of content personalization in the serialized format that resulted in the emergence of “binge listening” as a consumption habit. We have emerged as the preferred digital audio destination for a refined storytelling experience with the audio-series format, riding on our diverse and engaging content. Available on iOS and Android, click here to download Pocket FM. For more information, please get in touch with communications@pocketfm.com.
Audio is the new Lifestyle, reveals Pocket FM Survey
81% of users engage with audio content daily 93% desire the adaptation of audio content into visual formats like video OTT, TV series, and movies Users look at getting distressed, avoid distraction and attain better focus with audio content; Maximum preferences for shorter episodic content Minimal influence of influencers in users’ content selection Audio series got 74% 5-star recommendations, outshining TV entertainment, online music, and video OTT 84% audio series listeners migrated at the cost of online music, social media, short videos, video OTTs, audiobooks, and podcasts. December 12, 2023, India: Audio Series platform Pocket FM today unveils the findings of the second leg of its entertainment consumption survey ‘Digital Entertainment Insights: Audio Takes The Centrestage’. The survey, conducted every quarter across India, aims to understand the digital pulse of the nation and delves into the preferences, behaviours, and attitudes of internet users towards various forms of digital entertainment. Audio Takes The Centrestage: Key Metrics The findings suggest a resounding shift towards audio formats, with 81% of people engaging with audio entertainment daily. Storytelling emerged as the primary catalyst for its irresistible pull, with one in three users expressing a distinct preference for this engaging and immersive format. The other triggers are convenience, influencing every 4th user, and content diversity, affecting every 6th user to adopt audio as a preferred content medium. Regarding devices, 71% of users consume audio content on their smartphones, highlighting the convenience and accessibility that mobile devices provide. However, 29% of users prefer to consume audio through tablets, smart TVs, desktops, and other devices, showcasing the rise of audio consumption at the workplace and home. Genre-wise, drama emerged as the leading genre, capturing the attention of 22% of users, closely followed by suspense and thriller at 21%, romance at 17%, sci-fi at 12%, and comedy at 11%. Users seek concise, episodic content— want audio storytelling to be evolved into video Approximately 40% of users lean towards shorter episodes lasting between 5-15 minutes, while 35% prefer slightly longer episodes in the 15-30 minutes range. Only about 25% of users prefer longer content, opting for episodes spanning approximately 45-60 minutes. The rising popularity of audio entertainment is evident, with a notable shift in how people envision audio content. A staggering 93% desire to adapt audio content into visual formats such as video OTT, TV series, and movies. As audiences seek multi-sensory engagement, the call for transforming audio storytelling into visual mediums underscores the evolving nature of content consumption in today's digital age. Audio Emerges as Mental Wellness Specialist Audio extends beyond entertainment, proving itself as a valuable productivity tool. 44% of users find audio for stress relief and believe it to be a soothing escape amidst daily pressures. Moreover, 30% leverage audio to enhance focus, creating an immersive environment for improved concentration during work or other cognitive activities. About 26% look at audio as a means to avoid distractions. This multi-role of audio highlights its versatility, serving as a source of entertainment and a crucial element for effective and mindful living. Trust is key; Audio is winning it. When it comes to content selection, trust plays a deterrent role. 42% of users rely on content recommendations from the platform itself, while recommendations from friends and family (17%) and social media (21%) also wield significant influence. Surprisingly, only 6% of users are swayed by influencers, indicating a higher level of disconnect with their recommendations among the audience. 58% of users are highly likely, and 28% are likely to recommend their favourite audio platforms, showcasing a strong belief in the quality of auditory content. When it comes to spreading the word, good old-fashioned word of mouth leads the pack, with 42% of users relying on recommendations from friends. Social media is just a little behind, influencing 36% of users. Zooming into specific audio content, audio series steal the spotlight, with 74% giving 5-star recommendations. In comparison, 51% give 5-star ratings to TV entertainment but get a rating of 3 or below from 33% of users. Online music and video OTT also fare well, with 58% and 53% of users giving 5-star ratings, respectively, but rated 3 or below by 23% and 31% of users, highlighting a shift in the audience's digital entertainment preferences. Audio Series is the winner but at the cost of … The survey unveils the increasing popularity of audio entertainment, prompting a seismic shift in user preferences. 31% of users transitioned from online music to audio series, indicating a dynamic redefinition of audio entertainment consumption patterns. Similarly, 16% felt that their entertainment consumption shifted from social media and short video consumption, while 20% believed that audio series had replaced their video streaming habits. Even audio series have influenced other spoken-word content formats, such as audiobooks and podcasts, with approximately 17% of users experiencing a shift from these formats. Only 16% feel their entertainment time spent increased with audio series. Pay for Play - The time has come for Audio! As the landscape evolves, so do monetisation trends. While 23% prefer subscription-based models, the survey indicates a growing appetite for flexible pricing, with 37% of users open to paying for individual episodes. Only 40% of users still favour ad-supported and promotional models to drive consumption on audio platforms. Speaking on the findings of its second edition of Digital Entertainment Insights, Rohan Nayak, CEO and co-founder, Pocket FM, said, "The outcome of the survey reflects a remarkable shift in consumer content consumption preferences, signalling the rise of audio as a dominant force in the entertainment landscape. Audio is not merely a trend, but it has become a lifestyle, driving engagement that exceeds any other entertainment medium. The findings strongly suggest that audio series is set to dominate audio entertainment, and we believe, it will emerge among the top 3 entertainment formats in the next couple of years.” “As we welcome this audio revolution as an opportunity, we are committed to leading the way into a future where audio takes centre stage in the hearts and minds of millions of audiences across the world,” added Nayak. Methodology The survey encompassed a diverse cross-section of the Indian population, with a total sample size of 22,442 internet users, conducted between 28th October 2023 and November 15, 2023. Regarding gender distribution, the respondents comprised 69% males and 30% females. Delving deeper into age demographics, 58% of the sample are Millenials, 35% represented GenZ and 7% belong to GenX. Geographically, the survey has a balanced representation, with 58% of respondents hailing from Tier 1 cities and Metros and the remaining 42% from Tier 2 cities, reflecting an overview of digital entertainment preferences across diverse urban-rural landscapes in India. About Pocket FM: Founded in 2018, Pocket FM was built with a vision to redefine the audio OTT space by pioneering the audio-series category. We pride ourselves in embedding the storytelling elements with a layer of content personalisation in the serialised format that resulted in the emergence of “binge listening” as a consumption habit. We have emerged as the preferred digital audio destination for a refined storytelling experience with the audio-series format, riding on our diverse and engaging content. Available on iOS and Android, click here to download Pocket FM. For more information, please get in touch with communications@pocketfm.com
In the news
Pocket FM wants to be the Netflix of long-form audio
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“AI Is at the Core of Pocket FM and Personalization Sits at the Top of it” Says Prateek Dixit
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Pocket FM records $25 million ARR; eyes US foray
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Pocket FM launches ad solutions following pilot with over 100 brands
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Pivot and Perform
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Pursuit of happiness — Pocket FM goes for a reality check
The audio series company undertakes a Happiness Survey to understand the state of affairs, find flaws, learn and fix them to increase happiness quotient across levels
Like father, like daughter
Following her father’s footsteps, Piyali Kar turns to writing; finds success with Pocket FM’s audio series
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