Pocket FM is to launch of Pocket Novel to build it as India’s largest online reading platform and the default destination for the Indian writers’ community. The audio series platform also announces an investment of US$40 million to solidify its presence in the literary world.
With this launch, Pocket Novel is intended to play a key role in unlocking opportunities and connecting writers with millions of readers, understanding the immense potential within India’s underpenetrated novel landscape. So, the platform brings massive distribution opportunities across diverse formats and categories.
The online novel reading platform market in India is yet to be explored at its potential, with the global market projected to exceed US$6.5 billion by 2028. India is poised to emerge as the fastest-growing market in this space, presenting a promising opportunity for Pocket Novel. With its bold vision and strategic positioning, Pocket Novel is aiming to exceed US$100 million Annualized Revenue Run Rate (ARR) worldwide by 2025.
Commenting on the launch of Pocket Novel, Rohan Nayak, Co-founder and CEO, Pocket Novel said:
We are building an ecosystem that shapes the essence of entertainment which specializes in discovering and distributing unique and unheard stories. These are adaptable across formats and geographies, creating a robust model with millions of audiences. Leveraging our learnings from our successful audio series trajectory, we remain steadfast in our commitment to cultivating a dynamic entertainment ecosystem. Our IP creation engine is designed to produce and disseminate content across diverse categories and brings disruption in the entertainment landscape.”
The platform has witnessed its writers’ community flourished to over 150,000 writers with the top-performing writers earning impressive incomes, with some exceeding US$2500 every month. The company intends to continue its journey towards consolidating the aspirations of the writers on its platform and envisions building a community of 1 million writers and strengthening its library to 2 million novels by 2025.
Navkiran Dhaliwal is a seasoned content writer with 10+ years of experience. When she's not writing, she can be found cooking up a storm or spending time with her dog, Rain.
