“Sex sells! The old cliché never turned old really, and if you are in this business, you will earn money. This is how Ullu has capitalised,” said a film industry veteran. “In this business, the promise of such content is a double-barrelled gun.”

Ullu took the Hindi word for the nocturnal owl to brand itself, and its repository of short films and web series for adult consumption. The symbolism of the nocturnal bird and the allure of sexually-gratifying content is undeniable.

And while sex sells, it also kicks off big debates in India.

Ullu came under the glare of the National Commission of Women earlier this month. The platform had to take down a reality show, House Arrest, after a viral clip of the show displaying contestants enacting sex positions jolted several MPs and MLAs.

There’s no credible data estimating the market for lascivious entertainment in India, but it enjoys a substantial share of the $71.95 Bn global market, growing at 9.1% every year. India was also the third biggest consumer of porn in 2018. It was the same year when the government cracked the moral whip on easy access to adult entertainment and banned 827 websites including the likes of Brazzers,Pornhub, Bangbros. But the great jugaad economy of India soon found a quick fix in virtual private networks (VPNs).

Was there a whiff of opportunity in obscenity? Ullu today flaunts 2 Mn subscribers with 10 Mn Android downloads and has surpassed OTT giant Netflix in terms of paid subscribers, a LinkedIn post claimed last year. The six-year-old company closed FY24 with an operating revenue of INR 99.6 Cr and a profit of INR 12.6 Cr. The IPO-bound company is yet to disclose its financials for FY25.

A questionnaire sent to Ullu didn’t elicit any response at the time of publishing this story.

So, what is the chemistry behind Ullu’s success?

Ullu’s Content Engine

The OTT platform, which went on air in 2019 by founder Vibhu Agarwal, provides a diverse range of web series, short films and shows primarily in Hindi and a few regional languages like Tamil, Telugu, and Bhojpuri. The platform claims to offer a wide range of genres, primarily romance, drama, thriller, and comedy. While Ullu’s content is consumed mainly in India, it claims to have some business in Australia, too.

Ullu creates its content in two ways. Either it collaborates with production houses or independent creators or writers who develop the concept, write the script, and build the storyline. Or, the platform’s in-house........

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