Ullu’s revenue stagnates at Rs 100 Cr in FY24; profit declines by 16%

Ullu, a popular OTT platform, reported stagnation in revenue at ₹100 crore for FY24, with profits declining by 16%. Despite a large user base, the platform struggled to generate significant growth in its financial performance. Analysts attribute the stagnation to increased competition in the OTT space, rising content costs, and user retention challenges. The decline in profit raises concerns about Ullu’s ability to maintain its market position amid growing competition from larger, more established players. The platform is expected to strategize on content diversification and monetization approaches to turn around its financial performance in the coming years.