Cable TV
EY-AIDCF report: Indian cable TV faces dire times unless government and regulator step in with regulatory reforms
NEW DELHI: India’s cable TV industry is on the ropes, reeling from a perfect storm of digital disruption, regulatory overkill, and changing viewer habits. A blistering new report by EY and the All India Digital Cable Federation (AIDCF) reveals a 40 million plunge in pay TV homes since 2018—down from 151 million to just 111 million in 2024—and warns that the bleeding isn’t over yet.
By 2030, the figure could drop to as low as 71 million, as Indians flock to OTT, Free Dish, and smart TVs offering slicker content, better tech, and zero monthly bills. The fallout? A staggering 31 per cent collapse in employment across the Local Cable Operator (LCO) network, with up to 1.95 lakh jobs on the chopping block.
The pay TV playbook, once defined by “kam daam, zyada samaan,” is now buckling under rising channel rates, bundling woes, and what LCOs call a “regulatory regime rigged for broadcasters.”
A whopping 93 per cent of LCOs surveyed reported a drop in take-home income, with 79 per cent saying their earnings have nosedived by over 20 per cent since 2018.
* Revenue for major distribution platform operators (DPOs) has shrunk by over 16 per cent since 2018, while EBITDA margins have plunged by 29 per cent.
* Cable TV subscriptions have halved to 60 million, while smart TVs connected to the internet hit 50 million monthly active sets in 2024.
* Pay TV now makes up just 58 per cent of the TV pie, down from 81 per cent in 2018, even as India’s TV household base touched 190 million.
Despite being the backbone of India’s broadcast reach—physically connecting over 500 million people—LCOs remain the industry’s ignored foot soldiers, calling out a “top-heavy system” that allegedly favours deep-pocketed broadcasters and digital players.
AIDCF proposes radical surgery: from activating over 20 million inactive set-top boxes and offering subsidies in “TV dark” zones, to limiting near-simultaneous OTT releases of pay TV content, and ensuring a level playing field between cable, OTT, Free TV and FAST channels.
But with TRAI’s piecemeal tariff reforms (NTO 1.0 to 4.0) fuelling more legal duels than industry stability, stakeholders are demanding a full-blown reset. As OTT juggernauts steam ahead and content increasingly lives in the cloud, the cable industry’s survival may hinge not just on policy support but on reinventing itself as a digital services hub, not just a pipe.
As the report bluntly puts it: without immediate intervention, the sun may set on the 30-year reign of India’s cable TV kings.
Cable TV
Hathway Cable appoints Gurjeev Singh Kapoor as CEO
Leadership change comes as cable TV faces shrinking subscriber base and modest earnings pressure
MUMBAI: Hathway Cable and Datacom has tapped industry veteran Gurjeev Singh Kapoor as chief executive officer, marking a leadership pivot at a time when India’s cable television business is under mounting strain.
Kapoor will take over from Tavinderjit Singh Panesar, who is set to retire in August after a long innings with the company. Panesar, chief executive since 2023, has held multiple leadership roles at Hathway, including his latest stint beginning in 2022.
Kapoor brings more than three decades of experience in media and entertainment. He most recently led distribution at The Walt Disney Company’s Star India business, now part of JioStar. His career spans television distribution and affiliate partnerships, with stints at Sony Pictures Networks India, Discovery Communications and Zee Entertainment.
Panesar, with over three decades in the industry, has worked across strategic planning, distribution and business development in media, broadcasting and manufacturing. His past associations include ESPN Star Sports, Star India, Apollo Tyres and JK Industries.
The transition lands as the cable sector grapples with structural disruption. Traditional operators are losing ground to streaming platforms, while telecom and broadband players tighten the squeeze with bundled offerings.
An EY report estimates India’s pay-TV base could shrink by a further 30 to 40 million households by 2030, taking the total down to 71 to 81 million. The slide follows a loss of nearly 40 million homes between 2018 and 2024, a contraction that has already wiped out more than 37,000 jobs in the local cable operator ecosystem.
Hathway’s numbers reflect the strain. The company reported a consolidated net profit of Rs 93 crore for FY25, down from Rs 99 crore a year earlier. Revenue inched up to Rs 2,040 crore from Rs 1,981 crore. As of December 2025, it had about 4.7 million cable TV subscribers and roughly 1.02 million broadband users.
Kapoor steps in with a familiar brief but a shrinking playbook. In a market where viewers are cutting cords faster than companies can reinvent them, the new chief executive inherits a business fighting to stay plugged in.
