We explore the large-N limits of 2d CFTs, focusing mostly on WZW models and their cosets. The $SU(N)_k$ theory is parametrized in this limit by a 't Hooft-like coupling. We show a duality between strong coupling, where the theory is described by almost free fermions, and weak coupling where the theory is described by bosonic fields by an analysis of spectra and correlators. The AdS$_3$ dual is described, and several quantitative checks are performed. Besides the more standard states that should correspond to bulk black holes we find ground states with large degeneracy that can dominate the standard Cardy entropy at weak coupling and are expected to correspond to regular horizonless semiclassical bulk solutions.