Move over Bollywood, audio shows are starting to enter the coveted ‘100 Crores Club’

• ‘Ek Ladki Ko Dekha To', a fictional drama on Pocket FM has amassed a revenue of ₹150 crores
  
• Another audio show on the same platform, "Insta Millionaire", was the first audio hit to surpass ₹100 crores in earnings
  
• In a recent funding round, the start-up Pocket FM raised $103 million in the largest deals of 2024 so far
  

It has been a tough few years for India’s flagship entertainment industry, Bollywood! Very few movies have managed to break the shackles and amass hundreds of crores, while many films involving the largest stars have performed below expectations. During such a bleak period for the entertainment industry, an underdog content format has started to get attention — audio shows.

The audio series platform Pocket FM revealed this week that two of its popular shows, 'Ek Ladki Ko Dekha To' and 'Insta Millionaire,' have crossed the milestone of generating over ₹100 crore in audience revenue. These shows were consistently ranked among the Top 10 series on Pocket FM.

'Ek Ladki Ko Dekha To' is a fictional drama centred around Anika, who embarks on a journey back to her hometown, Manali, accompanied by her daughter, in search of her missing twin child. The series portrays the trials and triumphs of the protagonist. The show has amassed a revenue of ₹150 crores. In India, the series is accessible in Hindi, Telugu, and Tamil, while it has been entirely reimagined for mainstream US audiences under the title 'Saving Nora'. Collectively, it has garnered more than 500 million listens.

Earlier, "Insta Millionaire" became the first audio hit to surpass Rs.100 crores in earnings on Pocket FM. It delves into the transformational journey of Laxman, aka Lucky, from a humble individual to a millionaire, all on the night his heart is shattered by his girlfriend. As fortune smiles upon him, Lucky grapples with newfound responsibilities. The series has amassed 1.3 billion listens across various languages including Hindi, Tamil, Telugu, and English, resulting in gross earnings of more than ₹120 crores.

Says Suyog Gothi, VP and Country Head of Pocket FM in India, "By seamlessly merging storytelling with the power of audio, we are delivering an immersive experience that brings blockbusters to life in the form of audio.”

Pocket FM has introduced an innovative revenue model via its distinctive microtransaction system. This new approach moves away from traditional monthly or yearly subscription fees. While users can access daily free episodes on the platform, they have the option to purchase coin packs to unlock additional content. This system grants users flexibility and choice while enabling Pocket FM to monitor the revenue generated by each series.

In a recent Series D funding round, the audio entertainment platform raised $103 million led by Lightspeed Venture Partners — making it one of the chunkiest fundraises of the year yet. With the latest round, the total funding raised by Pocket FM is just short of $200 million. The new funding was aimed at global expansions into the US, Europe and LatAm markets.