Ultra Media announces Rs 500 cr investment, launches 2 OTT platforms
Ultra Media & Entertainment Group on Thursday announced a Rs 500 crore investment to drive its growth and expand the content portfolio.
As part of the growth strategy, the content production and distribution group launched two new over-the-top (OTT) platforms, Ultra Play and Ultra Gaane, the company said in a statement.
The Rs 500 crore "strategic financial commitment will support the launch and expansion of two OTT platforms Ultra Play and Ultra Gaane alongside enhancing the existing Marathi platform, Ultra Jhakaas", the statement said.
"The investment is a key component of Ultra Media & Entertainment Group's five-year growth plan. The allocation includes Rs 250 crore dedicated to content acquisition, ensuring a robust and diverse library across all platforms," it added.
An additional Rs 200 crore will fuel the production of new content, while Rs 50 crore is earmarked for marketing and technological advancements, further solidifying Ultra's position in the digital ...