What if you could pay only for the episodes you wanted to listen to? Pocket FM’s pay-per-episode feature makes long-form audio series more accessible and affordable, transforming how users engage with audio content.
Monetizing long-form audio series can be a challenge, especially when users hesitate to commit to larger payments upfront.
The product team at Pocket FM identified this issue and solved this by introducing a microtransaction-based pay-per-episode model, making premium content accessible to a wider audience while driving significant revenue growth.
This product manager and the team are featured as Upraised's top 50 Game Changers in 2024.
The Problem: Monetizing Long-Form Audio Content
As a platform dedicated to long-form audio series, the product team at Pocket FM faced the problem of finding a monetization model that:
- Lowered the Barrier to Entry: Users often hesitated to purchase full series due to the higher upfront cost, and uncertainty about the quality or they potentially they might just not like it. Which limits platform engagement.
- Enhanced Value Perception: Customers wanted flexibility, preferring to pay for only the episodes they were most interested in.
- Encouraged Repeat Transactions: Retaining users and encouraging them to make multiple purchases was key to sustaining revenue growth.
The product team at Pocket FM needed a solution that balanced affordability for users with profitability for the platform.
The Solution: Pay-Per-Episode Model
The product team at Pocket FM introduced a pay-per-episode feature, allowing users to purchase individual episodes of their favorite audio series. This new model reduced barriers to entry while maximizing user satisfaction and platform revenue.
Key Features of the Pay-Per-Episode Model
- Microtransactions for Accessibility: Users can pay a small fee to unlock individual episodes, making premium content affordable for everyone.
- Flexibility and Value for Money: The model targets the diverse user preferences, letting listeners pay only for the episodes they want to hear.
- Enhanced User Experience: By providing greater control over purchases, Pocket FM ensures a seamless and personalized listening journey.
Impact: Doubling Conversions and Revenue
The pay-per-episode model delivered remarkable results for Pocket FM. Perfectly balancing the user’s and business needs.
- Increased Conversions and Transactions: Conversions and repeat transactions on the platform doubled (~2x), attracting more users to access and enjoy premium content.
- Significant Revenue Growth: The model not only expanded the user base but also boosted platform revenue significantly (~2x), making it a win-win for users and the platform.
The Team Behind the Innovation
Rahul Jain: Lead Product Manager, Pocket FM
While finding the right monetization model, Rahul identified micro-transactions to have the highest appeal due to their lower barrier to entry & ease of making in-app purchases for users. Pocket FM leveraged this to allow users to pay per episode as they move through the series giving them full control of their purchases.
As a part of Upraised’s Game Changers, we're on a mission to celebrate high-impact problem solving & celebrate the individuals who brought these innovations to life.
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