Popular audio entertainment platform Pocket FM has reported a significant improvement in its financial performance for the fiscal year 2023-24. The company managed to reduce its net loss by 21 percent, bringing the deficit down to ₹165 crore compared to ₹210 crore in the previous fiscal year, The Economic Times reported.

The reduction in losses is attributed to the platform’s strategic focus on revenue generation and cost optimization. Pocket FM witnessed substantial growth in its subscription base, driven by its premium audio shows. Additionally, partnerships for in-app advertisements bolstered its income streams.

The company has also made strides in expanding its library of regional language content, catering to the increasing demand for vernacular shows across India. This move not only enhanced user engagement but also played a critical role in retaining its audience base.