PocketFM Unveils New AI Tool For Converting Text To Audio Shows

SUMMARY

Under the collaboration, the two have launched a new feature called AI Audio Series, which help writers on Pocket FM convert their text narratives into audio shows

Pocket FM said that more than 30,000 hours of “audio series” has already been produced via the new feature in its experimental phase

Founded in 2018, Pocket FM bagged $103 Mn in its Series D round, led by Lightspeed, earlier this year to bolster its presence in the US

Audio streaming platform Pocket FM has partnered US-based GenAI platform ElevenLabs to enable writers to convert their text stories into audio series.

Under the collaboration, the two have launched a new feature called AI Audio Series, which leverages ElevenLabs’ GenAI stack to help writers on Pocket FM convert their text narratives into audio shows.

“… By simply navigating to the “Write” tab in the Pocket FM app and selecting “Series,” writers can initiate the storytelling process. After ensuring it meets the minimum word count, they can effortlessly convert their story into an audio series with a mere tap, with an option to choose their preferred voice and background music,” the startup said in a statement.

Pocket FM said that more than 30,000 hours of “audio series” has already been produced via the new feature in its experimental phase. The audio streaming major plans to “triple” its content library on the back of the new offering this year.

Pocket FM also said that the integration of the latest offering has helped it slash costs by up to 90% during the experimental phase and shored up its production efficiency. The audio streaming giant added that the collaboration will accelerate its content strategy and enhance efficiency in content generation.

Commenting on the launch, Pocket FM cofounder and chief technology officer (CTO) Prateek Dixit said, “This is a game-changing, industry-first innovation, disrupting the norm by enabling writers to seamlessly transform their stories into captivating audio series with a single click of a button… By enabling this, we’ve not only empowered the writing community but also made audio series creation faster and simpler, making storytelling accessible for everyone”.

ElevenLabs cofounder and CEO Mati Staniszewski said, “Combining our voice AI expertise with Pocket FM’s innovative approach to audio series promises to take content production to new heights of efficiency and creativity. It’s an exciting journey ahead, one that we believe will set new standards in the entertainment industry.”

Founded in 2018 by Rohan Nayak, Nishanth KS and Dixit, Pocket FM is an audio streaming platform that offers diverse content across multiple languages and genres such as romance, self-help, and motivation.

Earlier this year, the startup bagged $103 Mn in funding as a part of its Series D round led by Lightspeed to bolster its presence in the US and expand presence to Europe and LATAM markets.

The collaboration with ElevenLabs comes at a time when Pocket FM has ramped up its focus on AI-led strategy for automation, content curation, production, and distribution. It was recently reported that the company was working on leveraging GenAI to scale its entertainment content offerings and build AI-powered personalised recommendations to enhance user experience.

The new launch comes days after Pocket FM dragged Disney+ Hotstar to Delhi High Court (HC) over alleged copyright infringement by the video streaming giant related to its audio series ‘Yakshini’. The HC later dismissed the plea.

Meanwhile, Pocket FM’s India arm reported a 663% year-on-year (YoY) rise in operating revenue to INR 129.7 Cr in the financial year 2022-23 (FY23) while narrowing its loss 56% YoY to INR 75.7 Cr during the period under review.