afaqs! news bureau

Pocket FM launches Pocket Novel, aiming to revolutionise Indian online reading

It also plans an investment of $40 million to enhance its literary presence and foster a robust entertainment ecosystem.

Pocket FM today announces the launch of Pocket Novel with an aim to build it as India’s largest online reading platform and the default destination for the Indian writers’ community.

It also announces an investment of $40 million to bolster its presence in the literary landscape. In its renewed commitment to cultivating a robust entertainment ecosystem, Pocket FM articulates its dedication to diverse portfolios across multiple entertainment categories and formats, placing a strategic emphasis on the creation and development of an IP playbook.

Pocket Novel aims to play a pivotal role in unlocking opportunities and connecting writers with millions of readers, understanding the potential within the underpenetrated novel market in India. Serving as a gateway for visibility and lifetime earning possibilities to the writers, the platform brings massive distribution opportunities across diverse formats and categories.

The platform celebrates the spirit of writers nationwide, evolving as the go-to destination for anyone passionate about storytelling, who loves to write and share their unique and unheard stories. The online novel reading platform market in India is yet to be explored at its potential, with the global market projected to exceed $6.5 billion by 2028.

According to the release, 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 $100 million annualised 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.”

Have news to share? Write to us