IVM Podcasts at Pratilipi plans to break-even by the end of FY23; aims to clock Rs 20 crore in revenue

Acquired by Pratilipi in November 2020, IVM Podcast at Pratilipi claims to have witnessed 600% rise in revenue in FY22 to Rs 6 crore

As for the content, the platform which claims to have over 150 shows in its library, plans to roll out 25 new shows this year.
As for the content, the platform which claims to have over 150 shows in its library, plans to roll out 25 new shows this year.

Podcast platform IVM Podcasts at Pratilipi aims to clock gross revenue of Rs 20 crore by the end of FY23, Amit Doshi, head, IVM Podcasts at Pratilipi, told BrandWagon Online. However, he declined to comment on the loss for the year. The platform which distributes its content to audio streaming companies such as Spotify, Gaana, JioSaavn, among others, claims to have seen a 60% rise in listenership traffic in FY22 when compared to FY21. “We continue to see strong growth. Our traffic has been steadily increasing between five-10% month-on-month,” he added. Acquired by Pratilipi in November 2020, the company claims to have witnessed 600% rise in net revenue in FY22 to Rs six crore. 

The growth podcast space has witnessed in the past couple of years has enabled brands to understand how impactful this form of medium can be for them, Doshi noted. For IVM, advertising and branded sponsorships are the only source of revenue. Currently, the company claims to have 35 brands as its clients and expects to break even by the end of FY23. According to Doshi, ads which are aired in between podcasts cannot be bluntly commercial or as boldly commercial as compared to other mediums. “There are broadly three ways that brands work with us. Firstly, we plug ads as part of the host’s script. We also offer brand integration to our clients, wherein we run a quiz in the middle of the show for our client. Lastly, we do branded content wherein we curate content for our clients in an infotainment manner,” he elaborated. 

Currently, the platform runs about three-four ads of 40 seconds in duration in an hour long show. While Doshi could not provide the conversion rates of the ads, he said that nearly 65% of listeners have taken some form of action, as per the recent survey done by IVM. “To be clear, this is not a conversion rate as the action might be fairly benign. It could range from looking up the brand on the website, sign up for a newsletter, follow on social media, or even result in a purchase,” he said. 

As for the content, the platform which claims to have over 150 shows in its library, plans to roll out 25 new shows this year. “Before the lockdown we were releasing nearly four shows a week on average. We intend to gradually go back to that schedule. This year we will foray into the fiction genre and focus more on regional languages, thereby releasing more shows than we did in FY22,” Kavita Rajwade, co-founder, IVM Podcasts at Pratilipi, stated. As per the platform, humor, personal finance, technology, self-help and history are the most popular podcast categories. 

Beyond Hindi and English, IVM offers content in four languages such as Tamil, Kannada, Marathi and Gujarati. This year, the platform aims to release more content in Tamil, Kannada and Gujrati as it claims to have registered a rise in listenership from Bengaluru and Chennai. For Rajwade, it is difficult to venture into a new language as their audience base is mostly from metros and tier 1 cities. “Regional content accounts for 20% of overall listenership. There’s a lot of growth potential over there and I believe we are yet to crack the code when it comes to increasing the regional userbase,” she said. 

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