Pocket FM, an audio storytelling startup based in Bengaluru and Culver City, California, said its annualized revenue run rate reached US$500 million, up from about US$250 million a year earlier.

The growth came as the company expanded overseas and used AI more in production.

Co-founder and CEO Rohan Nayak said AI now powers 93% of Pocket FM’s catalog and is used to produce 99% of its new content, while human creators still provide story ideas and narrative direction.

Nayak said Pocket FM calculates run rate by multiplying monthly revenue by 12.

He added that the US is its largest market and contributes about 70% of that figure.

Pocket FM parent Pocket Entertainment said it is in talks with investors about raising fresh capital.

Pocket Entertainment was reportedly seeking US$100 million to US$120 million at a valuation of about US$2 billion.

Nayak did not confirm those terms and said Pocket Entertainment does not plan to go public in the next 24 months.

Pocket FM had raised US$103 million in March 2024 to support global expansion.

The company also uses ads to monetize listeners who do not pay for episodes.

🔗 Source: TechCrunch

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