Ullu, the Indian OTT platform known for its bold and unconventional content, is making waves in the industry with its impressive financial performance.
The platform just reported a two-fold jump in revenue, reaching a staggering Rs 93.1 crore in the fiscal year ending March 2023.
This is a massive leap compared to the Rs 46.8 crore they earned the previous year. But that’s not all—profits skyrocketed by a staggering four times, reaching Rs 15.10 crore!
What’s even more impressive is that this growth comes amidst challenges faced by other OTT platforms. So, what’s Ullu’s secret sauce?
Betting Big on Content: Ullu isn’t shy about its edgy content, and it seems to be resonating with audiences.
They allocated a whopping 50% of their budget to production, ensuring high-quality shows that keep viewers engaged. This focus on content, combined with increasing scale and smart cost management, has led to their success.
Key Highlights:
- Revenue: Doubling to Rs 93.1 crore
- Profit: Soaring 4 times to Rs 15.10 crore
- ROCE: Up to 91%
- EBITDA margin: Improved to 24%
- Cost efficiency: Spent Rs 0.78 to earn Rs 1
Subscription Power: While Ullu doesn’t rely on advertising, their subscription model seems to be working wonders. This suggests a loyal user base willing to pay for the content they enjoy.
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