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IPO-Bound Ullu Digital Under The Scanner For Pornographic Content, Violation Of Rules
Inc42
·
1y ago
Medial
Ullu Digital, an Indian streaming platform, is under investigation by multiple government bodies for allegedly selling "pornographic" content involving school children. The Securities and Exchange Board of India (SEBI), Ministry of Corporate Affairs, and Ministry of Electronics and Information Technology (MeitY) have launched a probe following complaints against the OTT platform. The National Commission for Protection of Child Rights had previously written to MeitY, expressing concerns about the app's accessible "extremely obscene and objectionable" content. Additionally, Uday Mahurkar, founder of Save Culture Save Bharat Foundation, has asked SEBI and BSE to investigate Ullu for various violations, claiming false information in its draft papers.
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Ullu’s Founder Vibhu Agarwal Set To Roll Out Mythological OTT Platform Hari Om
Inc42
·
1y ago
Medial
Ullu Digital, currently facing investigations for allegedly selling pornographic content involving school children, is launching a new mythological OTT platform called Hari Om in June 2024. The platform will only feature 'U' rated content suitable for all ages, including animated shows for younger viewers. The decision to pivot towards mythology comes amid mounting pressure on Ullu for adult-only content, leading to scrutiny from Google and the National Commission for Protection of Child Rights. The upcoming platform will serve as a platform for Indian heritage, culture, and spirituality, with a focus on engaging audiences of all ages.
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Ullu Digital Files Draft Papers For INR 135-150 Cr IPO
Inc42
·
1y ago
Medial
OTT streaming platform Ullu Digital has filed draft papers for an IPO with the BSE SME to raise INR 135-150 crore. The IPO comprises a fresh issue of 62.63 lakh shares, with no offer for sale component. Ullu Digital plans to utilize the proceeds for content production, acquisition of international shows, tech investments, and working capital requirements. The company's operating revenue doubled to INR 93.1 crore in FY23, while its profits increased to INR 15.1 crore.
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ULLU launches UlluCoin, marks entry into Web3 with backing from Cypher Capital
Economic Times
·
17d ago
Medial
ULLU, an Indian OTT platform, has launched UlluCoin, a utility token to enhance its digital content ecosystem through blockchain. The token aims to support user engagement, unlock premium content, facilitate in-app redemptions, and offer fan rewards. Backed by Cypher Capital, UlluCoin will be integrated initially through the ULLU app and official website. The token is not yet listed on exchanges, but the process is underway, with plans for broader crypto acceptance globally.
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OTT platform Ullu next in line to go public, files DRHP
Entrackr
·
1y ago
Medial
Homegrown over-the-top (OTT) platform Ullu Digital Limited has filed a draft red herring prospectus (DRHP) with the BSE SME for an initial public offering (IPO). The company has proposed to raise funds via fresh issue of up to 62,62,800 equity shares. Notably, the company’s DRHP doesn’t have any offer for sale (OFS) component. As per Moneycontrol report, Ullu plans to raise around Rs 135-150 crore in the IPO. This will value the company around Rs 500-570 crore or $60-70 million. Narnolia Financial Services Ltd and Skyline Financial Services Ltd are the book-running lead managers of the issue. The OTT platform plans to deploy the IPO proceeds for the production of new content, purchase of international shows, purchase of state-of-the-art equipment and hiring of staff, working capital requirement and other general corporate purposes. As per the DRHP, founder of the company Vibhu Agarwal commands 61.75% shares while Megha Aggarwal owns 33.25% of the company. Zenith Multi Trading DMCC has a 5% stake in Ullu. For the half year ending September 2023 (Apr-Sep 2023), Ullu generated Rs 58.33 crore revenue from operations with a profit of Rs 12.28 crore. Ullu is a membership-led platform which streams web series, movies, and other forms of content. The company earns the majority of its revenue from the sale of subscriptions. As of September 2023, the company has 20,92,975 subscribers. However, the user base of the company declined over 24% from 27,59,397 subscribers during March 2023. The company had around 17,70,439 and 11,46,646 subscribers at the ends of March 2022 and 2021, respectively. During FY23, Ullu’s revenue from operations grew two-fold to Rs 93.1 crore as compared to Rs 46.8 crore in FY22. Its profits jumped 3.87X to Rs 15.1 crore in FY23 as compared to Rs 3.9 crore in FY22. Ullu has joined the list of tech-companies that are planning their public listing soon. The list includes ixigo, Unicommerce, Ola Electric, Awfis, and FirstCry among others.
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Child Rights Body Seeks Action Against Ullu App, Says ‘Extremely Obscene And Objectionable’ Content
Inc42
·
1y ago
Medial
The National Commission for Protection of Child Rights (NCPCR) has asked the Ministry of Electronics and Information Technology (MeitY) to take action against Indian OTT platform Ullu for allegedly hosting obscene and objectionable content accessible to children. The commission has requested action against Google and Apple as well, and urged for stringent know your customer (KYC) norms for users of Ullu and similar apps. Ullu recently filed for an initial public offering (IPO) to raise INR 150 crore. Its operating revenue doubled to INR 93.1 crore in FY23 from INR 46.8 crore in the previous fiscal year, and profits increased from INR 3.9 crore to INR 15.1 crore in the same period.
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IB Ministry blocks 18 OTT platforms for publishing obscene content
Entrackr
·
1y ago
Medial
The Ministry of Information & Broadcasting has blocked as many as 18 OTT platforms, including Dreams Films, Voovi, X Prime, Hunters, and others for publishing obscene, vulgar, and pornographic content. The ministry has also ordered blocking of 19 websites, 10 applications (7 on Google Play, 3 on Apple Store) along with 57 social media accounts associated with these platforms. “The content was determined to be prima facie in violation of Section 67 and 67A of the IT Act, Section 292 of the IPC, and Section 4 of the Indecent Representation of Women (Prohibition) Act,1986,” the ministry said in its press release. The decision was taken under the provisions of the Information Technology Act 2000 in consultation with ministers of various departments and the domain experts specializing in media and entertainment, women’s and children’s rights, the release added. Among these 18 banned OTT platforms, one of the OTT apps had more than 1 crore downloads while two others had 50 lakh downloads on Google Play Store. The social media accounts of the concerned OTT platforms had an overall fellowship of over 32 lakhs, the statement further said. The high number of downloads and viewership aren’t surprising considering the deep reach of affordable and faster internet connectivity in the country. Moreover, several OTT platforms have managed to bypass the local broadcasting norms to publish objectionable content. Besides obscenity, OTT platforms have also faced backlash from several groups over hurting religious sentiments. The spate of recent controversies probably prompted the government to introduce a new broadcasting bill, which proposes censoring of content on such streaming platforms. Interestingly, the latest order doesn’t include Ullu and ALT Balaji, which have been thriving on sleazy contents.
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Govt blocks Ullu, ALTT and 23 other OTT apps for explicit content
Entrackr
·
9d ago
Medial
The Ministry of Information & Broadcasting has blocked 25 OTT platforms and their mobile apps, including prominent services like Ullu, ALTT, Desiflix, and Big Shots, citing violations related to sexually explicit content. According to a report, services such as Prime Play, Hunters, Dream Films, Rangeen, and NeonX VIP have also been taken down. These platforms have come under regulatory scrutiny in the past for publishing erotic content marketed as adult entertainment. Despite the implementation of self-regulatory measures under the IT Rules 2021 and repeated government advisories, the Ministry alleged that many continued to bypass essential content certification and age filters. The blocked platforms largely operated via mobile apps, easily accessible through third-party app stores and aggressively promoted on social media. The government’s action includes both these apps and their corresponding websites, citing public concern regarding the availability of sexually explicit material to minors and the broader social fallout. For Ullu, this comes at a crucial juncture. The company reported Rs 100 crore revenue in FY24, and net profit declined by 16% to Rs 22.3 crore. In February last year, it had filed a draft red herring prospectus with SEBI to raise funds and list on the BSE SME platform. The present regulatory development could complicate its capital market ambitions as well as business prospects. While most of the websites and apps have stopped showing content following the government order, a handful of platforms continue to operate and remain accessible. The affected platforms have yet to issue a public statement regarding the ban or potential legal action.
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India bans streaming apps you’ve never heard of — but millions watch | TechCrunch
TechCrunch
·
8d ago
Medial
India has blocked 25 streaming services known for promoting "obscene" content, marking a significant digital crackdown. The affected platforms, including Ullu and ALTT, are popular for adult and edgy entertainment. Citing the Information Technology Act, the government ordered internet providers and app stores to restrict these services. Despite some apps being removed from app stores, APK files and websites remain accessible. The move highlights ongoing challenges in regulating explicit content, despite repeated government interventions.
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Bombay HC Strikes Down Centre’s Proposed Fact-Checking Unit
Inc42
·
10m ago
Medial
The recent judgement by Justice AS Chandurkar determined that the setting up of Fake Content Units (FCUs) is in violation of Articles 14 and 19 of the Indian Constitution. This decision comes after a previous split verdict by a two-judge Bombay bench. The IT Amendment Rules, 2023 grant the government the authority to establish FCUs for identifying and tackling fake or misleading online content related to the central government.
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TikTok’s attempt to stall DMA antitrust rules rejected by EU court
The Verge
·
1y ago
Medial
TikTok's request for an interim measure to delay being designated as a "gatekeeper" by the EU has been denied by the General Court. The court found that TikTok "failed to demonstrate the urgency" required for the request. As a gatekeeper, TikTok would have to comply with the strict Digital Markets Act (DMA) antitrust rules. Although TikTok is appealing the gatekeeper designation, the rejection means that it will have to temporarily comply with the DMA rules that go into effect in March. Additionally, TikTok is facing a separate investigation into its content moderation rules for minors under the EU's new Digital Services Act.
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