When India’s OTT revolution took off around 2018-2019, most eyes were fixated on the big players—Netflix, Amazon Prime, and Hotstar. What no one expected was a silent disruptor—Ullu, a platform that made headlines, not with blockbuster series or star-studded casts, but with bold and adult-themed content that pushed the limits of traditional Indian sensibilities.
Today, Ullu is a known name across Tier-2 and Tier-3 Indian cities. Despite facing criticism for its provocative themes, it carved a niche and earned crores by monetizing a market ignored by mainstream OTT players. But how exactly did Ullu make money? What strategies did it deploy? And why did people flock to it in such large numbers?
This blog deep-dives into how Ullu earned from bold OTT content, covering every layer of its business—from content creation to subscription revenue, controversies, and future prospects.
1. Ullu’s Entry into the OTT Landscape: Timing was Everything
Founded in December 2018 by Vibhu Agarwal, Ullu launched as an app-based OTT platform offering short-format entertainment. At the time, Indian audiences were getting comfortable with web series, thanks to data wars led by Jio.
But there was a gap.
Most platforms catered to urban, English-speaking users with polished content. Regional and small-town audiences still lacked relatable, engaging, and uncensored digital entertainment.
Ullu spotted this vacuum and decided to fill it with “bold” content—an umbrella term used to describe adult-oriented, suggestive, or erotically themed series.
This decision wasn’t just creative—it was financial. Bold content had a built-in, under-served audience in India and very low production cost, making it a goldmine for fast profitability.
2. Bold Content = Low Risk + High Return
Unlike Netflix dramas that cost crores per episode, Ullu’s content could be shot in a few days with minimal budget, limited sets, and no A-list actors.
Here’s why bold content was lucrative for Ullu:
- Production Budgets were minimal: Most Ullu series cost under ₹10-15 lakhs for an entire season.
- Actors were inexpensive: Lesser-known artists, many from modeling backgrounds, worked at lower rates.
- Shooting locations were simple: Rooms, houses, lodges, and outdoor sets—no expensive infrastructure needed.
- Post-production was fast: With limited special effects or action, editing turnaround was rapid.
This meant the break-even point was low, and every additional subscriber directly added to the profit margin.
3. Direct-to-Consumer Model: Subscriptions Over Ads
Ullu operated on a freemium subscription model—users could watch trailers and previews for free, but full access required a subscription.
Pricing Strategy:
- ₹99/month
- ₹144/3 months
- ₹299/year (One of the cheapest in India)
Given the affordable pricing, Ullu’s user base rapidly grew, especially in smaller towns and among youth aged 18–35. Many were first-time OTT users.
Revenue Streams:
- Subscription Fees (Primary)
- White-labeled licensing deals in international markets
- Telecom bundling and carrier partnerships
- Content syndication across other adult platforms
- Affiliate sales and SMS marketing
The direct-to-consumer model ensured a recurring revenue stream, without depending heavily on advertisers (who may shy away from bold content).
4. Geo-Targeted Marketing: Hyper-Focus on Tier-2 and Tier-3 Cities
Ullu’s content was not for everyone—and they knew it.
Rather than targeting urban viewers who were already loyal to Netflix or Prime, Ullu focused on:
- Hindi-speaking towns
- Bhojpuri, Gujarati, Marathi, and Bengali-speaking audiences
- Areas with cheaper mobile data and high smartphone penetration
How did they do it?
- SMS marketing: One of Ullu’s core marketing tools, especially in rural and semi-urban belts.
- Affiliate ads: Ullu heavily used affiliate marketing to drive downloads.
- Bold thumbnails and suggestive trailers: These created instant interest and shares on social media.
- Telegram Groups and APK Sharing: Ullu unofficially benefited from pirated circulation, as it kept the brand top-of-mind.
5. Viral Content Strategy: Word of Mouth & Curiosity
Ullu’s marketing never relied on mainstream media.
Instead, it counted on:
- Clickbait titles (e.g., “Charmsukh,” “Palang Tod”)
- Sensational episode plots involving taboo topics
- Weekly releases to create urgency
- Cliffhanger endings to hook viewers
These tactics made sure people discussed Ullu on social media, forums, and WhatsApp groups. Even criticism and memes worked in Ullu’s favor—keeping the platform in the public eye.
6. Exploiting Regulatory Grey Areas
Unlike TV or cinema, digital content was largely unregulated until 2021. Ullu took full advantage of this regulatory blindspot to release content that wouldn’t pass CBFC or TV censorship.
Even after OTT guidelines under the IT Act were enforced, Ullu pivoted just enough to avoid direct legal action, without compromising its core audience.
This “operate-until-warned” strategy gave them nearly three years of aggressive growth before mainstream platforms caught on.
7. Expanding Beyond Erotica: Diversification for Longevity
While bold content remains Ullu’s backbone, the platform has attempted diversification:
- Thrillers, horror, and crime dramas with adult elements
- Ullu Originals with better storytelling
- Regional content expansion (Tamil, Telugu, Bhojpuri)
- Non-fiction shows, docudramas, and semi-biographical tales
These expansions helped them keep subscribers engaged and reduce churn.
Ullu also launched “Atrangii”—a more mainstream content platform to appeal to a broader demographic while keeping Ullu focused on its niche.
8. Controversies: A Double-Edged Sword
Ullu’s growth came with backlash:
- Accusations of objectification and soft pornography
- FIRs and complaints in various states
- Public campaigns calling for bans
- Criticism from content creators and feminists
Yet, every controversy only fueled downloads. Ullu followed the “no publicity is bad publicity” mantra and capitalized on the noise.
However, in recent years, the company has exercised more control over its content rating and disclaimers to remain legally compliant.
9. Estimated Revenue and User Metrics
While exact figures are not publicly disclosed, industry insiders estimate:
- App Downloads: Over 10 million+ on Google Play alone
- Monthly Active Users (MAUs): ~5-6 million
- Revenue: Estimated ₹50–₹80 crore annually as of 2024
- Profitability: High due to lean production model
For a platform with no major actors, zero theatrical presence, and controversial content—it’s an impressive number.
10. Lessons for Indian OTT Startups
Ullu’s success story isn’t about sensationalism alone. It’s a masterclass in niche targeting, cost optimization, and audience understanding.
Key takeaways:
- Know your audience better than your competition
- Low production doesn’t mean low profit
- Virality > Celebrity
- Regulatory timing can define early growth
- Start with a strong niche, then diversify
FAQs: How Ullu Earned from Bold OTT Content?
Q1: Is Ullu legal in India?
Yes. Ullu is a registered company and follows digital content laws under the IT Act. While it has faced complaints, it hasn’t been banned.
Q2: How much does Ullu make annually?
Estimates suggest annual revenue ranges between ₹50 crore to ₹80 crore, driven mostly by subscriptions.
Q3: Why is Ullu so popular in India?
Ullu caters to a neglected demographic—small-town audiences looking for bold, relatable, and affordable content.
Q4: Who owns Ullu?
Ullu is owned by Vibhu Agarwal, who also launched other digital ventures like Atrangii.
Q5: What kind of content does Ullu offer besides adult shows?
Ullu has diversified into thrillers, dramas, regional stories, and docudramas, though its bold content remains the most popular.
Q6: Does Ullu face competition?
Yes, from platforms like Kooku, PrimeFlix, and even new-age bold series on MX Player and ALTBalaji. But Ullu remains the most recognized in this niche.
Q7: Is Ullu safe for teenagers?
No. Ullu’s content is meant for 18+ adults only. Parental discretion is strongly advised.
Conclusion: The Business of Boldness
Ullu’s business model may be unorthodox, but it’s undeniably successful. It leveraged the power of underserved markets, mobile-first consumption, and bold storytelling to create a profitable OTT empire from scratch. While not everyone may appreciate its content style, no one can deny its disruptive impact on India’s digital content ecosystem.
With growing regulation and evolving viewer preferences, the future may require Ullu to balance creativity with caution. But for now, Ullu continues to do what it does best—serve the bold, unfiltered content that millions are willing to pay for.