Pocket FM, an Indian audio storytelling app, has raised $103 million in funding, valuing the company at $750 million. The platform, which allows users to create and publish their own audio stories, has become a sensation in India and has expanded to the US, where it now generates 70% of its revenue. However, despite its success, many of its writers are struggling to make a living, citing stifling demands and a lack of promotion from the company.

The app's popularity is largely due to its user-generated content, which includes rags-to-riches stories like "Insta Millionaire" and "Saving Nora". These stories, which have been played over 235 million times, have grossed millions of dollars for the company. However, the writers who create this content are often not sharing in the success, with many earning only a few hundred dollars per month.

One writer, Amina SB, a 19-year-old Nigerian novelist, shared her experience with The Verge. She wrote 45,000 words for the platform, earning a total of $229, but was refused promotion by Pocket FM because she didn't have enough listeners. Amina says she won't continue writing for the platform, calling it "not good for beginner writers" who might feel "heartbroken" and "think they're failing."

Pocket FM's business model relies on an extensive network of full-time and contract editors and writers from around the world. Writers can publish on the platform by clicking the "write" button on the app, and once they reach 15,000 words, they are sent a contract detailing their rights and payment. However, many writers have reported feeling trapped by the company's demands, which require them to produce a high volume of content in order to earn a living wage.

The company's cofounder, Rohan Nayak, says that Pocket FM is a "democratic platform" that allows writers from across the world to publish their stories. However, many writers disagree, citing the platform's algorithm, which only promotes content that is already popular among listeners. This creates a catch-22, where writers are required to produce high-quality content, but are not given the promotion they need to attract listeners.

In addition to its struggles with writer compensation, Pocket FM is also jumping on the AI train, announcing a partnership with AI voice-cloning company ElevenLabs. The platform plans to use AI-powered tools to convert text scripts into sound, which it claims will cut costs by 90%. However, many writers are skeptical of the move, citing the lack of emotional tenor in AI-produced voice and the potential for AI to replace human writers.

Despite these challenges, Pocket FM remains a popular platform, with many writers drawn to its promise of converting their writing into audio and striking gold. However, as the company continues to grow, it will need to address the concerns of its writers and find a way to share its success more equitably.