News Broadcasting
Conditional access gets the thumbs up in indiantelevision.com poll
The government seems to have the mandate of the people in the matter of conditional access.
The latest indiantelevision.com poll that queried if conditional access is the solution for the ills facing the Indian cable and satellite industry, had a whopping 71 per cent endorsing CAS. Those who answered in the negative were a mere 17 per cent, while 13 per cent were unable to decide either way.
Information and broadcasting minister Sushma Swaraj does seem to be inclined to push in conditional access, a move that is likely to ring in some cheer for the cable industry. The broadcaster community has not been quite so enthusiastic though .
Star Group CEO James Murdoch, in Mumbai last month, made no bones about his displeasure with the cable op fraternity, which he blamed for the mess the industry is in. According to Murdoch, the whole call by the cable industry for CAS systems to be introduced was no more than a delaying tactics was reacting to what was potentially a major threat to his business interests in India. The government task force’s report on the introduction of conditional access has not been too helpful to the broadcaster either.
Among other recommendations, the report stipulates that CAS should be mandated under the Cable Television Networks (Regulations) Act, 1995, that a set top box be required only for pay channels (premium tier) while FTA channels continue to be receivable by subscribers in the current mode. While the government does not intend to interfere in the pricing of the pay channels or the pricing of set top boxes, leaving both to market forces, it would still retain the right to regulate the price of the ‘basic tier’ of FTA channels, the report says.
The report is also of the view that consumer interest needs to be protected by providing efficient and responsive service through a transparent and accurate billing and collection system to ensure that the revenue accruable to the government is determined in a fair manner. The report envisages that eventually the set top would permit migration by the subscriber across various delivery media – satellite, cable and terrestrial. The user will have the capability to migrate to various delivery media, simply by changing the “network interface module”.
However, even if legislation is to come in the next few months, implementation will take three to five years, according to the industry.
Although the poll result offers a clear inclination towards CAS, there is no doubt that there is a real problem on the cards for the general entertainment pay channels. This is because if the decision is left to consumers, the majority would go in for the basic tier. The resultant picking and choosing among channels will mean that the bottom will fall out of all that has been achieved in the last few years. The leader, Star naturally has the most to lose. However, all pay bouquets will take a hit, although niche channels need not be as worried by the introduction of CAS.
Some or all of these issues are likely to come up for debate at a seminar on CAS scheduled for next week in the capital. The seminar is being organised by the Swiss-based Consumer Action Network, according to Deepa Mistry of the PR firm Euro RSEG.
The government, meanwhile, has not really moved forward on this issue. Whether it is the political uncertainties prevailing that have virtually paralysed the government or whether it is due to some heavy duty behind the scenes lobbying is still to be ascertained.
News Broadcasting
Network18 Q4 revenue grows 9.7 per cent, EBITDA at Rs 30 crore
PAT improves to Rs 306.6 crore, margins steady amid cost pressures.
MUMBAI: Not all news is breaking, some of it is quietly improving. Network18 Media & Investments Limited appears to be doing just that, tightening losses and stabilising margins even as costs continue to weigh on the business. For FY26, the company reported revenue from operations of Rs 1,955.1 crore, up from Rs 1,896.2 crore in FY25, signalling modest top-line growth in a challenging media environment. Total income stood at Rs 1,978.2 crore, compared to Rs 1,913 crore a year earlier.
Profit after tax came in at Rs 306.6 crore for the year, a sharp turnaround from Rs 3,225.4 crore in FY25, largely reflecting the absence of large exceptional items that had inflated the previous year’s numbers. On a more comparable basis, the company’s operating performance showed signs of gradual stabilisation.
However, the quarterly picture remained under pressure. For the March quarter, Network18 reported a loss of Rs 53.1 crore, narrower than the Rs 98.1 crore loss in the same period last year, but still indicative of ongoing cost challenges.
Expenses continued to track high. Total expenses for FY26 stood at Rs 2,235.7 crore, up from Rs 2,197.8 crore in FY25. Key cost heads included operational expenses of Rs 765.9 crore, employee benefits of Rs 475.9 crore, and marketing, distribution and promotional spends of Rs 427.1 crore, underlining the continued investment required to sustain reach and engagement.
At an operating level, margins remained under strain. Operating margin stood at 2.33 per cent for FY26, marginally higher than 1.77 per cent in FY25, while net profit margin remained negative at -13.02 per cent, though improved from -14.89 per cent.
On the balance sheet, total assets rose to Rs 8,957.6 crore as of 31 March 2026, from Rs 8,317.5 crore a year earlier. Equity strengthened to Rs 4,958.7 crore, while borrowings increased to Rs 3,112.8 crore, reflecting a higher reliance on debt to support operations.
Cash flows told a mixed story. While financing activities generated Rs 83.9 crore, operating cash flow remained negative at Rs -24 crore, highlighting ongoing pressure on core cash generation. Cash and cash equivalents, however, improved to Rs 33.9 crore from Rs 1.8 crore.
The numbers point to a company in transition growing revenues, trimming losses, but still grappling with structural cost pressures. In a sector where scale often comes at a price, Network18 seems to be inching towards balance, one quarter at a time.
