ITV News
HMVL to stop onboarding new users to OTTplay from 31 March
Platform contributed Rs 60 crore in FY25 but carries negative net worth of over Rs 38 crore.
MUMBAI: HMVL just hit pause on its OTTplay ambitions because when the streaming waters get too crowded and costly, even a media giant knows when to stop adding passengers to the boat. Hindustan Media Ventures Ltd (HMVL) has decided to stop onboarding new users to its OTT aggregation platform OTTplay from 31 March 2026. The move, approved by the board and disclosed in a regulatory filing, signals a strategic re-evaluation of the business amid rising competition and challenging economics in the streaming space.
Existing subscribers will continue to be serviced, indicating a measured, phased wind-down rather than an abrupt shutdown. OTTplay contributed nearly Rs 60 crore in revenue in FY25, accounting for roughly 8 per cent of HMVL’s overall revenue, but operated with a negative net worth of over Rs 38 crore.
The decision reflects broader industry pressures: escalating content acquisition costs, aggressive direct-to-consumer strategies by major streamers, and difficulties in sustaining profitable bundling models. HMVL noted that timelines for achieving meaningful profitability no longer align with internal expectations.
While the parent company maintains a strong balance sheet, the OTT vertical has become a disproportionate drag, prompting the shift in focus toward core operations and capital efficiency.
In a streaming world where everyone wants to own the remote, HMVL has chosen to step back from the aggregation game, proving that sometimes the smartest play isn’t adding more channels, it’s knowing when to switch off the set.
