“Our category creation for audio streaming with innovations and unique storytelling capabilities are guiding us towards sustainable and profitable growth. The marketing and advertising community has shown interest in our ad solutions due to its strength to optimize brand engagement without disrupting the listeners’ experience,” said Manish Nagar, head of agency relationship, Pocket FM.
The company has done experimental campaigns with over 100 brands to explore their audio innovations and offered brand solutions to brands such as OnePlus, Croma, Amazon Prime, Fino Banking Payments, and Hero Vired, among others.
During the pilot stage, Pocket FM garnered engagement for these brands on its platform while ensuring minimum ad interference. With specific targeting options, Pocket FM’s solutions enable brands to engage with the listener community with a customized approach.
“For a relatively new platform to churn out such innovations in the Audio OTT category is a great thing. We are glad to have associated with Pocket FM, and tried, tested, and approved of its prowess. A first-of-its-kind for our category,” said Anand Bhatia, chief marketing officer, FINO Banking Payments.
In the last quarter, Pocket FM introduced the micro-payment module for its listener to imbibe piecemeal content consumption habits that witnessed an exponential growth trajectory in content monetization, thus setting the trend for a micro-payment mechanism.
Pocket FM had raised $65 million in funding in March this year and $22.4 million in December last year. In total, it has raised $93.6 million till date and is backed by some marquee investors such as Lightspeed, Times Internet, Tanglin Venture Partners, Goodwater Capital, and Naver.
With more than 15 million monthly active listeners on the app, and a daily average time spent of over 100 minutes, the app has emerged as a preferred media category for brands and marketers.