Ultra Media to Pump Rs 500 Crore into New Movie and Music Streaming Platforms

Ultra Media & Entertainment Group is stepping up its game in the OTT space with the launch of two new platforms, Ultra Play and Ultra Gaane. The company is planning to invest heavily in its direct-to-consumer business over the next five years.

Ultra Play will focus on streaming classic Hindi movies, offering over 2,000 films from Bollywood’s golden years, including hits from the 1950s to the early 2000s. The platform will feature films with legendary stars like Guru Dutt, Dev Anand, and Rajesh Khanna.

Ultra Gaane is a music video platform with a collection of over 4,000 songs from the 1960s to the 1990s. It will also feature new and upcoming independent artists.

With the addition of these two platforms, Ultra now operates three distinct OTT services, including its existing Marathi platform, Ultra Jhakaas.

All three platforms are subscription-based, with prices set at Rs 199 per year or Rs 99 for three months.

Rajat Agrawal, COO & Director of Ultra Media & Entertainment Group, said the company plans to invest Rs 500 crore into these OTT ventures over the next five years. Of this, 75% will go to Ultra Play and Ultra Gaane, while the remaining 25% will support Ultra Jhakaas. Most of the money, Rs 450 crore, will be spent on creating and acquiring content for these platforms, with Rs 50 crore allocated for marketing and technical upgrades.

Agrawal mentioned that an initial investment of Rs 30 crore will be spread across all three platforms, with more funds added each year as needed. Currently, the company isn’t looking for extra funding but might consider it in the future.

For the fiscal year ending in March 2023, Ultra’s revenue jumped 72% to Rs 127 crore, while expenses rose 63% to Rs 105 crore. Net profit soared by 143% to Rs 17 crore.

Ultra, which started in 1982 as a home entertainment platform, has grown into a major content company specializing in copyright acquisition, film production, distribution, and streaming.