DTH
Digital penetration of pay-TV subs in APAC to reach 90% by 2023: MPA
MUMBAI: The Asia-Pacific pay-TV industry will grow at a 6.6 per cent average annual rate from 2014 to 2019, according to a new report, Asia Pacific Pay-TV & Broadband Markets, released by Media Partners Asia (MPA).
MPA projects industry sales to climb from $52 billion in 2014 to $72 billion by 2019 and to $84 billion by 2023. Despite robust growth, the region’s pay-TV industry is under pressure however, as the pace of both subscriber and revenue growth decelerates.
In Southeast Asia, a significant slowdown in Indonesia and Thailand will apply the brakes to regional momentum, partially offset by significant expansion in the Philippines and decent gains in Malaysia.
Revenue growth will be at its most robust and scalable in large territories such as India, Korea and China as well as smaller markets such as Hong Kong and the Philippines. Australia will offer much improved subscriber momentum, although revenue expansion will lag.
Ex-China, which remains a utility oriented and highly regulated pay-TV market, Asia added10.8 million net new pay-TV customers in 2014, slower than the 11.2 million added in 2013 and significantly slower than the average 15-18 million net additions that occurred between 2008-11.
MPA projections indicate a spike in net additions will occur in 2016, due to India’s next phase of cable digitalization, with a steady deceleration likely to follow. Including China, MPA sees total pay-TV subscribers in Asia-Pacific growing from 500 million 2014 to 598 million by 2023.
Adjusted for multiple connections in a household, pay-TV penetration of TV households will grow from 54 per cent in 2014 to 61 per cent by 2023. In Asia ex-China, adjusted pay-TV penetration is expected to grow from 55 per cent to 60 per cent over the same period.
Digital penetration of pay-TV subs in Asia-Pacific will increase from 70 per cent in 2014 to 90 per cent by 2023 as all major pay-TV markets covered in the report go 100 per cent digital except for India (70 per cent),Pakistan (32 per cent), Sri Lanka (94 per cent), and Thailand (53 per cent).
HD penetration of total digital pay-TV subs will grow from 24 per cent to 44 per cent over the same period, with penetration between 50-90 per cent in Australia, China, Korea, Japan, Malaysia, New Zealand, the Philippines and Singapore.
Over 2014-19, value-added services (VAS), driven by VOD, will be the fastest growing segment for Asia’s pay-TV industry, as revenues climb at a 13.2 per cent CAGR from 2014-19.Key market drivers of VOD include Australia, China, Japan and Korea, while Malaysia and Hong Kong lead amongst smaller markets.
MPA projects that authenticated TV Everywhere (TVE) services will not generate meaningful revenue but remain a churn reducer in most markets.
In standout pay-TV markets such as India and Korea, a combinationof high volume and a level of ARPU upside (partially off set by price competition), inaggregate, will drive subscription revenue growth. Higher yields will also boost growth in Hong Kong, Malaysia, the Philippines and Vietnam.
According to MPA, pay-TV advertising will grow from $10 billion in 2014 to $14.3 billion by 2019, with growth driven by high base markets such as India and Korea along with China. Australia, Japan and Taiwan will remain material, although growth in each of these markets will soften.
The pay-TV ad opportunity in Southeast Asia will remain under-exploited, partially due to limited penetration in most markets, but also because of poor execution.
MPA executive director Vivek Couto said, “Pay-TV operators are striving to either reignite growth or sustain existing momentum with a new cycle of value creation. A number of operators are repackaging products with improved price points (i.e. Australia), tiering (i.e. Hong Kong) and slimmer, low-ARPU packs (i.e. Philippines). Most players have invested to enhance programme windows and offer more VOD. Others are climbing the curve of product innovation with all-HD platforms, with more local and Asian content, as well as live sports, a key mainstay for pay-TV.”
DTH
Den Networks reports Rs 1,227 million FY26 profit growth
Revenue crosses Rs 10,009 million as margins improve and costs ease
MUMBAI: Not all signals are on screen some are buried in the balance sheet. Den Networks has reported a steady financial performance for FY26, with profit after tax rising to Rs 1,227.53 million, reflecting improved operational discipline despite a relatively flat top line. For the year ended March 31, 2026, the company posted revenue from operations of Rs 10,009.17 million, marginally higher than Rs 9,891.45 million in FY25. Total income stood almost unchanged at Rs 12,282.10 million compared to Rs 12,279.77 million a year earlier, signalling stability rather than aggressive expansion.
The real story, however, lies beneath the surface. Total expenses declined to Rs 10,648.32 million from Rs 10,691.30 million, driven by tighter cost controls across key heads. Employee benefit expenses dropped to Rs 548.64 million from Rs 651.52 million, while depreciation and amortisation expenses also eased to Rs 652.01 million from Rs 723.06 million, indicating a leaner operational structure.
As a result, profit before tax rose to Rs 1,633.78 million from Rs 1,588.47 million, while profit after tax improved to Rs 1,227.53 million, up from Rs 1,173.96 million in the previous year. Earnings per share stood at Rs 2.57, compared to Rs 2.46 in FY25, underlining incremental shareholder value creation.
On the balance sheet front, the company’s total assets expanded to Rs 43,416.76 million from Rs 42,496.64 million, supported by a sharp rise in bank balances to Rs 30,628.71 million. Equity also strengthened to Rs 38,532.74 million, reflecting accumulated profits and a growing financial cushion.
Cash flow dynamics, however, present a more nuanced picture. While investing activities generated a net inflow of Rs 632.80 million, operating activities saw an outflow of Rs 553.50 million, largely due to tax payments and working capital adjustments. The company ended the year with cash and cash equivalents of Rs 151.70 million, up from Rs 106.11 million.
Taken together, the numbers suggest a business that is prioritising efficiency over expansion holding revenue steady while tightening costs and strengthening its balance sheet. In an industry where growth often grabs headlines, Den Networks appears to be making a quieter statement: sometimes, resilience is the real signal.
