Audio entertainment platform Pocket FM said its global revenue soared 496% to INR 1,051.97 Cr in the financial year 2023-24 (FY24) from INR 176.36 Cr in the previous fiscal year👇 In a statement, the company also said that it managed to trim its global loss by 21% to INR 165 Cr from INR 209 Cr in FY23. A significant portion of Pocket FM’s revenue stems from its microtransaction-led subscription model, which generated a revenue of INR 934.73 Cr, up 484% from INR 160.05 Cr in FY23, the statement said. Revenue from advertisements surged over 600% to INR 89.34 Cr from INR 12.5 Cr in the previous fiscal year. 🔗To read the in-depth article, click here: https://4-2.co/3ZtFJa3 #news #revenue #profit #PocketFM Rohan Nayak | Nishanth S. | Prateek Dixit
Despite the global revenue surge of 496% and reduction in losses by 29%, Pocket FM still managed to fire (read: laid off) 2900-3200 employees within a span of last two months! Super impressive!! Is this why start-ups like these first conduct mass hiring and then just lay off employees?
Pocket FM's microtransaction-fueled subscriptions propelled 484% growth - but what next-level monetization innovations could cement its long-term profitability?
Pocket FM growth is inspiring.
Congratulations
Director Of Photography at Directorate of Information & Publicity Delhi Government
3dStill 100+ employees were fired.