Ultra Media launches two new OTT platforms, targets Rs 500 crore investment
The Rs 500 crore investment will be allocated as follows: Rs 250 crore for content acquisition to ensure a diverse and robust library across all platforms, Rs 200 crore for the production of new content, and Rs 50 crore for marketing and technological advancements.
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Ultra Media & Entertainment Group has announced a significant investment of Rs 500 crore to fuel its growth and expand its content portfolio. This strategic move will support the launch of two new over-the-top (OTT) platforms, Ultra Play and Ultra Gaane, while also bolstering its existing Marathi platform, Ultra Jhakaas.
The Rs 500 crore investment will be allocated as follows: Rs 250 crore for content acquisition to ensure a diverse and robust library across all platforms, Rs 200 crore for the production of new content, and Rs 50 crore for marketing and technological advancements.
With the launch of Ultra Play and Ultra Gaane, the group aims to offer audiences an unparalleled digital experience by preserving the legacy of Hindi cinema and music while also providing fresh, original content. Ultra Play is India's first OTT platform dedicated to Hindi film classics, featuring over 2,000 films from renowned directors like Guru Dutt, Raj Kapoor, and Shakti Samanta.
The company has demonstrated consistent growth, with revenue increasing by approximately 25% in both 2021-22 and 2022-23, followed by a 35% expansion in 2023-24. With a current growth rate of 40% and expectations to reach 50% by the end of FY 2024-25, Ultra is targeting a revenue of over Rs 200 crore for the upcoming fiscal year.
