iWorld
Audio streaming platform Eshtory readies for an aggressive push
MUMBAI: Even as many a player is rushing into the video streaming platform space, here’s one which is stepping into audio streaming. Called Eshtory, it is founded by former MyFM CEO Harrish Bhatia, radio vet Viplove Gupte, and sales vet Nilesh Kadam. At some stage or the other the trio was employed at MyFM, which was a part of the Dainik Bhaskar group.
Funding has come their way through strategic investments from Abhijit Realtors founder Abhijit Majumdar and Radio Orange CEO Inu Majumdar, who has also taken on the position of chairperson of OrangeGlobal Stories, the firm behind Eshtory.
Eshtory’s logo was unveiled by minister for road transport and highways Nitin Gadkari in Nagpur recently. Scheduled for launch in January 2025, the app promises to offer listeners a seamless and immersive experience with original, high-quality, compelling narratives. Beyond entertainment, the platform will serve as a hub for homegrown storytellers, showcasing regional tales to global audiences and fostering a vibrant ecosystem of creative talent, says the company.
OrangeGlobal Stories co-founder Bhatia pointed out that the team is not just building a platform, it is flagging off a movement. He expounded: “We are united by a shared vision to celebrate the boundless power of imagination and creativity. In a fast-paced world, stories have the power to inspire, entertain, and connect. Through Eshtory our mission is to transform storytelling into an immersive experience, delivering original fiction that resonates across cultures and geographies. We aim to redefine how stories are told and experienced. We aim to bring voices from every corner of the world to light, offering narratives that are original, fresh, and unforgettable.”
The company says it has kept aside a marketing and digital promotion war chest of $36 million to be spent over the next three years to build up its user base. This strategic allocation aims to enhance the platform’s reach and engagement via, large-scale brand awareness, advanced digital strategies, targeted ad campaigns and tailored content promotion.
They will need all the muscle power they can muster. The Indian audio streaming marketing is teeming with competition with the likes of Audible from Amazon, Pocket FM, Kuku FM, Pratilipi among others. But the good part is the global audio storytelling market is expected to grow to $53.46 billion by 2032, with strong contributions from emerging markets like India and rapid growth in the Asia-Pacific region. In India, the convergence of affordable data, widespread smartphone penetration, and evolving consumer preferences has propelled the audio OTT sector into a high-growth trajectory.
Amid this momentum, the company says, it is uniquely positioned to fill critical gaps in the market. By prioritising quality and originality, the platform says, it will stand apart in a space often dominated by tech-driven approaches, offering listeners a reimagined storytelling experience that caters to both local and global audiences. With India emerging as a creative hub for diverse storytelling, OrangeGlobal Stories seeks to redefine the audio landscape by showcasing compelling narratives that resonate across cultures and geographies. .
Added OrangeGlobal Stories chairperson Majumdar: “As an ardent enthusiast of audio entertainment and the only female CEO leading a radio channel in India, I am incredibly confident that the team will be able to redefine the storytelling experience. OrangeGlobal Stories is not just a platform but a testament to our commitment to delivering the finest audio content that resonates deeply with listeners.”
Now, it’s up to the audience to listen.
iWorld
Meta plans 8,000 layoffs in new AI-led restructuring wave
First phase from May 20 may cut 10 per cent workforce amid AI pivot.
MUMBAI: At Meta, the future may be artificial but the cuts are very real. The social media giant is reportedly preparing a fresh round of layoffs, with an initial wave expected to impact around 8,000 employees as it doubles down on its artificial intelligence ambitions. According to a Reuters report, the first phase of job cuts is slated to begin on May 20, targeting roughly 10 per cent of Meta’s global workforce. With nearly 79,000 employees on its rolls as of December 31, the move marks one of the company’s most significant workforce reductions in recent years.
And this may only be the beginning. Sources indicate that additional layoffs are being planned for the second half of the year, although the scale and timing remain fluid, likely to be shaped by how Meta’s AI capabilities evolve in the coming months. Earlier reports had suggested that total cuts in 2026 could reach 20 per cent or more of its workforce.
The restructuring comes as chief executive Mark Zuckerberg continues to steer the company towards an AI-first operating model, committing hundreds of billions of dollars to the transition. Internally, this shift is already visible: teams within Reality Labs have been reorganised, engineers have been moved into a newly formed Applied AI unit, and a Meta Small Business division has been created to align with broader structural changes.
The trend is hardly isolated. Across the tech sector, companies are trimming headcount while investing aggressively in automation. Amazon, for instance, has reportedly cut around 30,000 corporate roles nearly 10 per cent of its white-collar workforce citing efficiency gains driven by AI. Data from Layoffs.fyi shows over 73,000 tech employees have already lost jobs this year, compared with 153,000 in all of 2024.
For Meta, the move echoes its earlier “year of efficiency” in 2022–23, when about 21,000 roles were eliminated amid slowing growth and market pressures. This time, however, the backdrop is different. The company is financially stronger, generating over $200 billion in revenue and $60 billion in profit last year, with shares up 3.68 per cent year-to-date though still below last summer’s peak.
That contrast underlines the shift underway. These layoffs are less about survival and more about reinvention. As Meta restructures itself around AI from autonomous coding agents to advanced machine learning systems, the question is no longer whether the company will change, but how many roles will be left unchanged when it does.
