Pocket FM: With the help of ElevenLabs‘ experience with AI voice technology, Pocket FM has reduced expenses by up to 90%.
Pocket FM: The voice cloning startup ElevenLabs and Pocket FM have teamed to swiftly transform textual content—like scripts—into audio programs through artificial intelligence.
By utilizing ElevenLabs’ proficiency in AI Voice technology, Pocket FM has achieved up to a 90% reduction in expenses. The company’s production efficiency has also increased as a result of this integration. These developments enable the creation of audio series.
Prateek Dixit, CTO and co-founder of Pocket FM, said, “This is a game-changing, industry-first innovation, disrupting the norm by enabling writers to seamlessly transform their stories into captivating audio series with a single click of a button.”
“By enabling this, we have empowered the writing community and facilitated the creation of audio series more quickly and easily, thereby increasing accessibility to storytelling for all.”
During its experimental period, Pocket FM created almost 30,000 hours of radio programs, and this year, it plans to triple its content library. The business reports that its platform has received favorable user feedback on its AI Audio Series, with engagement levels matching that of human voice quality, and that it currently has a collection of over 100,000 hours of audio series.
Writers can start the storytelling process by going to the Pocket FM app’s “Write” tab and choosing “Series.” Once their narrative is at least the required word count, they may turn it into an audio series with just a tap and select their favorite voice and background music.
ElevenLabs CEO and co-founder Mati Staniszewski said, “We are thrilled to work with Pocket FM to shape the future of audio entertainment.” The combination of Pocket FM’s creative approach to audio series and our Voice AI expertise promises to push the boundaries of efficiency and originality in content creation. We think the trip ahead will be interesting and will establish new benchmarks for the entertainment sector.
The business has grown throughout Europe and Latin America. It claims that this partnership will only hasten content strategy and improve content creation efficiency. Offering serialized audio programming across genres, Pocket FM raised $103 million in Series D fundraising in March 2024, with a $750 million post-money valuation.
Venture capital company Lightspeed led the round, with Stepstone Group, a private markets investing firm, participating.With this investment, Pocket FM has raised approximately $196.5 million in capital in total thus far.
The company is growing at a rate of 57% and has crossed $150 million in annual revenue. In 2023, it recorded more over 20 million transactions. Listeners spend more than 115 minutes a day on average across the globe. The platform saw over 75 billion minutes of streaming globally in 2023 alone.
In English and various Indian languages, including Hindi, Tamil, Telugu, Malayalam, Bengali, Kannada, and Marathi, the content covers a wide range of genres, including romance, drama, thriller, fantasy, and science fiction.