Kuku FM nearly triples FY25 revenue to Rs 242 crore; loss widens to Rs 153 crore

Kuku FM sharply scaled its business in FY25, nearly tripling its operating revenue, even as losses widened due to aggressive advertising spends, according to media reports.

The audio content platform reported a 175% year-on-year jump in operating revenue to Rs 242 crore in FY25 from Rs 88 crore in FY24, following a 114% growth the previous year. The company also recorded Rs 16 crore in other income, taking its total income to Rs 258 crore for the year.

The company's total expenses more than doubled to Rs 411 crore in FY25 from Rs 200 crore in FY24. Advertising and marketing emerged as the largest cost head, accounting for close to 70% of total expenditure. Ad spends surged nearly threefold to about Rs 285 crore from Rs 102 crore a year earlier.

Employee benefit expenses rose 28% to Rs 60 crore, while information technology expenses increased 28% to Rs 27 crore. Depreciation costs tripled to Rs 9 crore during the year.

As a result, Kuku FM’s net loss widened 59% to about Rs 153 crore in FY25 from Rs 96 crore in FY24.

Founded in 2018 by Lal Chand Bisu, Vikas Goyal, and Vinod Kumar Meena, Kuku FM operates two primary offerings: Kuku FM for long-form audio content and Kuku TV for serialised microdramas. The platform counts over 10 million paying subscribers.

On the funding front, the company has raised over $150 million from investors, including The Fundamentum Partnership, Vertex Ventures, and Krafton, which hold 12.79%, 11.12%, and 10.17% stakes respectively.

Recently, it closed an $85 million funding round led by Granite Asia, with participation from Vertex Growth Fund, Krafton, IFC, Paramark, Tribe Capital India, and Bitkraft.

Kuku FM is also stepping up preparations for a public market debut. The company has reportedly shortlisted multiple investment banks to raise up to Rs 3,000 crore through an initial public offering, comprising a mix of fresh issue and offer for sale.