Kuku FM Records Rs 88 Cr Revenue in FY24, Invests Rs 100 Cr in Marketing Initiatives

Kuku FM, an audio content platform, has grown quickly during the last two fiscal years. After experiencing almost 12-fold growth in FY23, the Mumbai-based company has more than doubled its sales in the fiscal year ending March 2024, while significantly cutting losses.

Kuku FM’s operating revenue increased 2.1x year on year to Rs 88 crore in FY24, up from Rs 41 crore in FY23, according to annual financial papers obtained from the Registrar of Companies.

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Kuku FM provides a wide selection of audio programming in areas like business, self-help, personal finance, history, religion, entertainment, and fitness. Kuku FM relied only on revenue from paywalled membership sales.

The Fundamental-backed company also earned Rs 16 crore, mostly from interest on deposits and the sale of current investments, increasing its total revenue to Rs 104 crore in FY24, up from Rs 49 crore in FY23.

on enhance its audio content reach, Kuku FM allocated more than half of its total cash burn on advertising and marketing, which totaled Rs 102 crore in FY24, an 8.5% increase over FY23. Interestingly, spending on audio content creation was quite low, at Rs 16 crore.

According to financial filings, employee benefits at the Mumbai-based company increased by 37% in FY23. Meanwhile, information technology, legal, rent, payment gateway charges, and other overheads increased total expenditure by 21.2% to Rs 200 crore in FY24.