iWorld
Darwin effect: 3-4 telcos may Jio after potential M&As
MUMBAI: When you can’t fight them, join them. Discretion is the best part of valor — are some of the quotable quotes that one has heard. They seem to be proving right in the context of the neck-and-neck race among the existing rivals and a new entrant in the Indian telecom space.
The new entrant Reliance Jio has caused a considerable disruption in the space. No matter it is working out to the benefit of the consumer and helping the industry expand albeit at a much lower cost to the end-user, well-entrenched rivals now are on a slippery wicket.
Vodafone India for example is considering its options of a possible merger with one of the existing rivals. Or, the things could take such a turn that it may be inclined to join the tough new entrant — Jio.
On the other hand, the leading telco Bharti Airtel too launched a number of schemes to face competition. Meanwhile, Airtel is reportedly in discussion to buy Telenor’s India business in a deal that will involve taking on debt of Rs 1,500 crore to take on Reliance Jio. Telenor operates in six of the 22 telecom circles in India and offers 2G services to its 45 million users.
Although, there were reports that Vodafone may be seeking merger with Idea or Jio, experts believe a merger with the former was a possibility. Vodafone had launched several tariffs to browbeat competition from Airtel and Jio. The Indian unit is reportedly seeking a merger with one of the top telecom companies following intensified competition. Vodafone may be keen for a possible tie-up with Idea, Jio or another of the top three providers. Jio’s aggressive tariffs and heavy investments started impacting competitor a few weeks after it entered.
Experts opine that the industry is prepared for a major consolidation with smaller companies such as Telenor likely to be bought over and middle-level companies such as Reliance Communication and Aircel seeking mergers. The exercise will eventually leave space for some 3-4 players.
But, there is some apprehension. With two decades of existence, it may be a bit early to expect merger for Idea or Vodafone. Vodafone may rather go for a buyout.
In September 2016, Vodafone invested Rs 47,700 crore in the Indian unit, most of which was used to reduce debt to Rs 35,430 crore by the end of second quarter of 2016-17. By September, the Indian company had 200 million mobile customers. In November, Vodafone cut the valuation of its Indian unit by GBP 5 billion owing to stiff competition.
iWorld
Streaming boom crosses 200 million as India shifts to sustainable growth
From content bets to CTV rise, industry leaders map streaming’s next phase
MUMBAI: India’s streaming story has entered a new chapter, and this time it is less about land grab and more about staying power. At a panel on the evolving streaming economy, industry leaders agreed that with subscriptions crossing 200 million and revenues surging, the focus has decisively shifted to sustainable growth, smarter content bets and sharper partnerships.
Moderator EY partner Raghav Anand, set the tone by pointing to the sharp jump in paid subscriptions, driven by a mix of sports, bundling and improved distribution. The result is a fast-maturing ecosystem where subscription revenues are beginning to complement, and in some cases rival, advertising-led growth.
For Amazon Prime Video Svod business India director & head Shilangi Mukherji, the past decade has been about balancing choice with clarity. “It’s not an either-or market anymore,” she noted. “There is space for everything, from television to ad-supported streaming to subscriptions. The real win is when they all grow together.”
At the heart of this growth lies a simple trio: selection, value and convenience. Content remains king, but not in isolation. Platforms are now curating vast libraries that blend originals, rentals, and third-party services, all under one roof. The aim is to create an ecosystem where viewers do not need to hop between apps to find what they want.
Content itself is also evolving. Mukherji highlighted that nearly half of Prime Video’s viewership comes from outside a show’s home region, underlining the collapse of traditional language silos. Stories are no longer “regional” but increasingly pan-Indian, with talent and narratives travelling seamlessly across states.
Franchise-building has become another cornerstone, with a majority of shows designed for multiple seasons. The goal is not just to attract viewers but to keep them coming back, turning series into long-term cultural touchpoints rather than one-off hits.
On the production side, Hungama Digital Media managing director & CEO Neeraj Roy, described an industry that is both resilient and recalibrating. While the pandemic accelerated content consumption and discovery, it also reset market dynamics. Pre-sales have softened, satellite revenues have tightened, and the easy money phase of digital deals has cooled.
“The honeymoon is over,” Roy said candidly. “Now, content has to prove itself. If it works at the box office or with audiences, everything else follows.”
This shift, he argued, is pushing creators towards greater discipline. Fewer projects are being made, but with sharper focus on quality and audience appeal. At the same time, global exposure to diverse content, from Korean dramas to Malayalam cinema, has raised the bar for storytelling across the board.
Another quiet transformation is unfolding in how content is consumed. While mobile remains the primary gateway, especially for payments and discovery, connected TVs are fast becoming the preferred screen for long-form viewing. Mukherji described this not as a battle of devices but as a “force multiplier”, with platforms tailoring plans for mobile-only users, living room viewers and multi-device households alike.
The monetisation playbook is also widening. Beyond subscriptions and ads, platforms are experimenting with rentals, bundled offerings and commerce integrations, building layered revenue streams that cater to different stages of the consumer journey.
Looking ahead, both panellists pointed to global ambition as the next frontier. Mukherji emphasised taking Indian stories to the world through deeper localisation, calling content India’s soft power. Roy, meanwhile, stressed the need for investment in infrastructure, skills and, crucially, transparent data systems to guide creators with better insights.
If the first phase of India’s streaming boom was about scale, the next will be about substance. And as the industry settles into this new rhythm, one thing is clear: the real streaming wars may be over, but the race to win viewers’ time has only just begun.
