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Kuku FM’s scale mounts 9X in FY23, splurges Rs 95 Cr on advertising

Entrackr · 1y

Kuku FM, a Fundamentum-backed audio content platform, significantly expanded its content collection by 9.3X in the fiscal year ending March 2023. However, despite this growth, the company's revenue was just above Rs 40 crore, while losses exceeded Rs 100 crore at a 2X growth rate. Kuku FM generates revenue through paywalled subscriptions for its audio content, including business, self-help, finance, and more. Marketing and advertising expenses accounted for 57.3% of its total spending, reflecting the challenges of acquiring and educating users in India's price-sensitive audio content market.