Pocket FM, the audio entertainment platform, has joined forces with ElevenLabs, an AI voice cloning startup, to introduce a groundbreaking feature called AI Audio Series. This new tool enables writers to effortlessly transform their stories into audio series on the Pocket FM platform with just a single click.
Founded in 2018 by Rohan Nayak, Prateek Dixit, and Nishanth Srinivas, Pocket FM boasts over 100,000 hours of content, including exclusive audio series and a vast library of episodes, catering to a global audience with a significant presence in the US market.
During an experimental phase over the past three months, Pocket FM has already produced more than 30,000 hours of audio series. Prateek Dixit emphasized the platform’s commitment to empowering writers and simplifying the creation of audio series, thereby democratizing storytelling.
Dixit, also serving as Pocket FM’s Chief Technology Officer, highlighted the transformative impact of AI Audio Series on production efficiency. The collaboration with ElevenLabs has enabled Pocket FM to increase content production by more than tenfold, significantly reducing both time and costs associated with content creation.
With this leap in efficiency, Pocket FM anticipates rapid expansion into new markets like Germany and France, addressing previous bottlenecks related to content production speed. This strategic advancement is poised to revolutionize content creation dynamics in the audio entertainment industry.
ElevenLabs, backed by investors including Andreessen Horowitz and Sequoia Capital, specializes in providing lifelike AI voices across multiple languages and applications, from movie dubbing to conversational AI and gaming. Their technology complements Pocket FM’s vision to enhance creativity and efficiency in audio content production.
With a total funding of approximately $196.5 million to date, the Bengaluru-based startup continues to drive revenue growth through microtransactions and advertising, maintaining an impressive Annualized Revenue Rate (ARR) of $150 million as of December 2023.