Kuku FM is an online audio content and radio streaming platform that announced a 114.6 percent increase in operational revenue to Rs 88 crore in FY24. The startup provides a mobile application offering podcasts, radio, and audiobooks. The application allows users to stream content in various languages and genres such as spirituality, sports, or politics. The paywalled subscription sale is the company’s primary source of revenue. The startup also provides record and edit options for creators.
Entrackr mentioned in its report that the firm also earns income through interest on deposits and sales of current investments. The company earns Rs 16 crore through these interest and current investments. The overall revenue generated was around Rs 104 crore in FY24. This increase two times from Rs 49 crore in FY23. The company has secured over $72.3 million across five funding rounds since its inception, including $25 million raised during its series C funding round led by IFC and Fundamentum.
The data intelligence platform, tracxn mentioned that the company’s post-money valuation is around 177 million USD. The platform allows users to search broadcasts through titles based on the keywords. The startup also provides a range of features for broadcasters like in-app recording, performance analysis, listen count, and community support. The information technology, payment gateway charges, rent, legal, and other expenses increased the total expenditure by 21.2 percent to Rs 200 crore in FY24.
The startup reported a 17.9 percent decrease in its losses of Rs 96 crore in the same duration. Meanwhile, the employee benefits increased by 37 percent in this financial year. The Mumbai-based startup allows users to view performance metrics such as listener count and audience demographics within the app while receiving assistance from community managers. The company intends to manage its losses by controlling its operating expenses and employee benefits.
Kuku FM also allocated over 50 percent to Rs 102 crore of its total cash burn to marketing and advertisement to expand its audio content reach in FY24. The company reported total outstanding losses of Rs 289 crore for this financial year. The EBITDA margin stood at -89.42 percent while the ROCE was around -46.38 percent. Kulu FM faces competition from other audio and music streaming platforms such as Spotify and Pocket FM.
Conclusion :
The podcasts, audio, and music streaming platform Kuku FM announced a 114.6 percent increase in its operational revenue to Rs 88 crore in FY24. The online platform offers audiobooks, live radio, and podcast stories. The firm provides audio content across various categories like business, history, religion, sports, and self-help. The sale of paywalled subscriptions and sales of current investments are the firm’s primary sources of revenue.
The loss also decreased by 17.9 percent to Rs 96 crore in FY24. The total expenditure of the firm increased by 21.2 percent and crossed Rs 200 crore in the same duration. The company controlled its losses this year by reducing its operating and employee expenses. The company has secured over 73.2 million USD across multiple funding rounds to date.
image source : vertexventures
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