Cable TV
Cable TV distribution to get fillip from demonetisation
MUMBAI: The cable television distribution business, a section of which has been infamous for dealings in unaccounted money, will have to upgrade addressability in the backdrop of the decision to demonetise higher value currency. It is estimated that the analog subscriber base will come down by 37% this year as they switch over to digital cable under DAS III and IV, according to sector estimates.
According to a FICCI-KPMG report, there are approximately 65 million analog cable television subscribers in India, around 37 million digital cable television subscribers, 44 million pay DTH (direct-to-home) subscribers and some 15 million free DTH (FTA) subscribers. The benefit of dealing in cash prompts most operators to under-report subscriber numbers and eventually revenue. However, this may substantially reduce with the new government move, experts said.
KPMG partner – media & entertainment Jehil Thakkar said that, with digitisation (under DAS III and IV), TRAI has proposed new pricing for TV channels. The purpose was to make it affordable. With demonetisation, the cable operators may have to clean up their operations so that there was transparency in dealings with broadcasters.
DAS could act as a catalyst for cable operators to reduce under-reporting. Demonetisation, experts said, could become a trigger for the switchover. Under-reporting of subscription revenue by the cable operator per individual or household had been estimated to be 15-20%. DTH, however, has overcome this issue by using a pricing strategy based on the number of channels seen by a consumer.
Meanwhile, the release of a number of Telugu films including Intlo Deyyam – Nakem Bhayam and Ram Charan Teja’s Dhruva have been postponed. Box office earnings have gone substantially down for Tamil, Telugu, and Malayalam films owing to demonetisation. Producers are being forced to defer releases due to low turnouts.
Several film shoots have been suspended, and many theatres in Kerala are planning to shut shop owing to non-availability of low denomination notes. Work on national award-winning director Sidharth Siva’s new movie Sakavu too has been deferred.
Income Tax officials meanwhile raided the house of the campaign manager of Puducherry chief minister V Narayanasamy and ex-MLA A John Kumar, seizing Rs. 14 lakh in cash. The ex-MLA of Nellithope, whose business is cable TV distribution, real estate etc, is also the manager of Narayanasamy’s campaign.
Cable TV
Hathway Cable appoints Gurjeev Singh Kapoor as CEO
Leadership change comes as cable TV faces shrinking subscriber base and modest earnings pressure
MUMBAI: Hathway Cable and Datacom has tapped industry veteran Gurjeev Singh Kapoor as chief executive officer, marking a leadership pivot at a time when India’s cable television business is under mounting strain.
Kapoor will take over from Tavinderjit Singh Panesar, who is set to retire in August after a long innings with the company. Panesar, chief executive since 2023, has held multiple leadership roles at Hathway, including his latest stint beginning in 2022.
Kapoor brings more than three decades of experience in media and entertainment. He most recently led distribution at The Walt Disney Company’s Star India business, now part of JioStar. His career spans television distribution and affiliate partnerships, with stints at Sony Pictures Networks India, Discovery Communications and Zee Entertainment.
Panesar, with over three decades in the industry, has worked across strategic planning, distribution and business development in media, broadcasting and manufacturing. His past associations include ESPN Star Sports, Star India, Apollo Tyres and JK Industries.
The transition lands as the cable sector grapples with structural disruption. Traditional operators are losing ground to streaming platforms, while telecom and broadband players tighten the squeeze with bundled offerings.
An EY report estimates India’s pay-TV base could shrink by a further 30 to 40 million households by 2030, taking the total down to 71 to 81 million. The slide follows a loss of nearly 40 million homes between 2018 and 2024, a contraction that has already wiped out more than 37,000 jobs in the local cable operator ecosystem.
Hathway’s numbers reflect the strain. The company reported a consolidated net profit of Rs 93 crore for FY25, down from Rs 99 crore a year earlier. Revenue inched up to Rs 2,040 crore from Rs 1,981 crore. As of December 2025, it had about 4.7 million cable TV subscribers and roughly 1.02 million broadband users.
Kapoor steps in with a familiar brief but a shrinking playbook. In a market where viewers are cutting cords faster than companies can reinvent them, the new chief executive inherits a business fighting to stay plugged in.
