DTH
Pandemic drags down DishTV India’s FY’21 financials
MUMBAI: India’s first DTH operator Dish TV India continues to slog it out to get out of the financial quagmire it has got itself into. That’s despite the fact that the company has seen a loss of subscribers in its latest quarter ended 31 March 2021 and for the full year, its top line has dipped even as it continues to report losses. According to its audited Q4 FY 21 results released yesterday, Dish TV India has reported consolidated subscription revenues of Rs 685.2 crore (Rs 776.6 crore in Q4 FY’20) and operating revenues of Rs 751.7 crore (Rs 869.06 crore). EBITDA for the quarter was Rs 426 crore (Rs 543.2 crore). Net loss was Rs 1415.3 crore as against a loss of Rs 1456.2 crore in the same quarter last year.
Subscription revenues for the whole year have fallen from Rs 3192.8 crore in FY ’20 to Rs 2987.4 crore in FY’21, even as operating revenues saw a reduction to Rs 3249.4 crore as against Rs 3556.3 crore in FY20. EBITDA for the full year fell to Rs 2017 crore as against Rs 2106 crore in FY’20. However, to its credit, it has reduced the red ink on its bottomline to Rs 1189.9 crore as against Rs 1654.8 crore in the previous financial year.
What helped it shore up its performance in the latest financial year is its hard focus on shaving expenditure which it has reduced by 15 per cent to Rs 1232.4 crore as against Rs 1450.4 crore in FY ’20.
Dish TV management said the company has been hit by the sporadic lockdowns due to the ongoing pandemic during the year and the last quarter. “The later part of the fourth quarter saw re-emergence of urban to rural migration, amongst migrant workers. The sporadic lockdowns have left many in the aspiring class with reduced disposable incomes while taking a toll on overall consumer confidence. Subscriber churn, thus remained on the higher side during the quarter and full year,” said Dish TV India group CEO Anil Dua in a press release.
Additionally, the company largely relied on internal cash flows for capital expenditure and for debt reduction. Hence, it kept a tight rein on capital expenditure which in turn limited new subscriber additions, and when compounded with high subscriber churn, it led to a net reduction in its subscriber base.
Overall, Dish TV repaid Rs 213 crore of its debt in the quarter, reducing its loan exposure to Rs 809.9 crore at end FY’21 as against Rs 1817.5 crore at end FY20.
Said Dish TV chairman & managing director Jawahar Goel: “The year gone by was difficult but has left us stronger with all the innovations and process improvements in place. However, with continuing uncertainties, we maintain a cautious stand. A strong balance sheet boosts confidence in such tough times and our focus on paying down debt and other liabilities is in that direction only.”
Dua said that investors need to take heart about the positive manner in which Dish TV has pivoted to take advantage of the opportunities that the pandemic has thrown up. “Effectively, the pandemic rushed the need to innovate. Be it artificial intelligence for resolving customer complaints, enabling work-from home for customer care agents and employees, developing set-top-boxes and other key accessories in India, moving trade partners to a fully digital recharge mode or upgrading our OTT platform, Watcho, we rose to the challenges thrown by the trying year while touching new highs in EBITDA margins.”
What according to the two of them shows promise is the growth in sign-ons to DishTV’s OTT service Watcho to 25 million by FY 21 year end as against just a million users in January 2020. Said Dua: “At Dish TV India, it has always been our endeavor to meet the entertainment needs of all our subscribers all the time. Watcho is a step in that direction and delivers a seamless, streaming entertainment experience to viewers through future ready technology and diverse content.”
Dua is quite optimistic about the company’s fortunes pointing to the important role TV continues to play in viewers lives in India, and believes that a revival in discretionary spending, due to economic activity normalizing going forward, will improve business revenues. The company is going ahead with the procedures relating to raising funds through a rights issue totting up to Rs 1,000 crore.
DTH
DD Free Dish e-auction revenue dips to Rs 642 crore as slot sales fall
Revenue dips as revised norms reshape bidding in 94th round
NEW DELHI: Prasar Bharati’s DD Free Dish has closed its 8th annual, and 94th overall, e-auction for MPEG-2 slots with total collections of Rs 642 crore for the period April 1, 2026 to March 31, 2027.
That is lower than last year’s Rs 780 crore haul, with 55 slots sold compared with 61 in FY25–26. The softer topline reflects both a slimmer inventory and a recalibrated auction framework.
This was the first auction conducted after amendments to the e-auction methodology, including tighter eligibility norms and a revised reserve price structure for MPEG-2 slots. The stated aim was greater transparency and more serious participation. The immediate outcome appears to be more measured bidding in certain categories.
Day one set the tone. Eight slots were sold, six in the premium Bucket A+ and two in Bucket A. The strong early action in A+, which typically houses Hindi GECs and movie channels, reaffirmed the enduring appeal of mass Hindi programming on the platform.
Among the broadcasters securing slots in the initial rounds were Zee Entertainment Enterprises, Sony Pictures Networks India, Viacom18’s Colors network, Sun Network and Shemaroo Entertainment. Their continued presence signals that, despite the pull of digital platforms, Free Dish remains a strategic must have for legacy networks chasing scale in price sensitive markets.
The final bouquet of 55 channels leans heavily towards Hindi news, movies, devotional fare, Bhojpuri and regional programming.
In Hindi news, familiar heavyweights such as Aaj Tak, ABP News, India TV, News18 India, Republic Bharat and Zee News made the cut. Entertainment and movie offerings include Colors Rishtey, Star Utsav, Dangal TV, Sony Pal, Shemaroo TV, Goldmines, B4U Movies and Zee Biskope. Devotional viewers will find Aastha, Sanskar and Sadhna Gold among the selected channels.
Regional representation includes Sun Marathi, Fakt Marathi, PTC Punjabi and GTC Punjabi.
Equally telling were the absences. Broadcasters such as Big Magic, Filamchi Bhojpuri, India News, Bharat Express, Movieplex Maithili, TV9 Marathi, Shemaroo Marathibana, Zee Chitra Mandir and Satsang did not participate. The pullback is particularly visible across Marathi, Bhojpuri, Maithili and spiritual programming. Industry observers point to the revised reserve prices, tighter eligibility norms and a reassessment of commercial viability as possible factors.
DD Free Dish continues to beam into over 40 million homes, largely in rural and semi urban India. For advertisers and broadcasters alike, it offers efficient access to Bharat markets where pay TV penetration remains uneven and OTT subscriptions are limited.
The moderation in revenue this year may be read as a pause rather than a retreat. Fewer slots, a reworked auction playbook and evolving broadcaster strategies have clearly shaped outcomes. Yet premium Hindi entertainment retains its pull, and the platform’s mass reach remains hard to ignore.
As the FY26–27 line-up settles in, the mix of winners and walkaways will define the private satellite channel landscape on DD Free Dish for the year ahead.
