Pocket FM, an India-based audio storytelling platform, has announced it has doubled its revenue run rate to $500M. The company attributes much of this growth to its use of artificial intelligence in content creation.

According to the company, AI now powers the production of 99% of its new content. This heavy reliance on AI technology has made a significant impact on the company's economics: content production costs have dropped to roughly 1/80th of their previous level, making audio content production about 80 times cheaper than before.