News Broadcasting
SET plans novel use of STBs
NEW DELHI: With the conditional access system (CAS) gone for a six at least in Delhi and Mumbai, Sony Entertainment TV (SET) India is looking at offering special packages of programmes and services to those subscribers who already have set-top boxes (STBs). This will be in association with multi-system operators (MSOs).
Pointing out that this is the best time for the industry to “move the boxes” in a market-friendly manner, SET India CEO Kunal Dasgupta today said, “We are looking at the business opportunity of supplying content on demand to subscribers through STBs, now that the uncertainty over CAS has almost been removed.” Dagupta was interacting with journalists on the sidelines of a press conference here to announce the launch of Jassi Jaissi Koi Nahin.
Dasgupta was of the opinion that the broadcasters, MSOs and other stakeholders can come together at this time to take advantage of the situation. He said some boxes have been seeded in the market, in anticipation of CAS. His plan can now be leveraged to “move the boxes in the market faster”.
Dasgupta also confirmed that Sony would be part of Zee Group Cable arm Siti Cable’s headend in the sky (HITS) plan for CAS delivery as well as Zee’s direct-to-home (DTH) programme.
His comments are pertinent in the light of the strong assertion made yesterday by Discovery-SET India president Shantanu Aditya refuting a report on indiantelevision.com that the “Monopolies and Restrictive Trade Practices Commission (MRTPC) had directed Star, Sony and ESPN Star Sports to provide signals to the Zee-promoted HITS platform till the next hearing, which is scheduled for 10 September.”
With Dasgupta’s confirmation that SET would be on the HITS platform, the question of the MRTPC issuing a directive becomes superfluous.
Coming back to the subject of supplying content to subscribers through STBs, though SET hasn’t opened up talks with other broadcasters on this, Dasgupta feels that his company would start work on this plan as soon as possible, probably “as soon as next week”.
As an illustration, Dasgupta cited Sony’s acquisition of telecast rights of the blockbuster Hindi movie Saathiya, starring Vivek Oberoi and Rani Mukherjee. “Ideally I would like to premier Saathiya as part of this special package over cable for those subscribers who would like to pay to watch this film through their STBs. Later the movie can also be shown on Max or Sony,” he explained.
The special packages of programmes and services that SET India is looking at include movie package, classic music concerts like those of Lata Mangeshkar, sports, and even gaming solutions and music for downloading from the digital cable head-end servers.
“The box, in the absence of CAS, would sit idle. So why not make use of them to provide suck packages and services. I am also looking at introducing gaming packages and this is the way to move the (boxes) market,” Dasgupta said.
He opined that the gaming packages can be sourced from SET India’s parent company Sony, which is a big player in the computer gaming sector worldwide with the likes of Playstation series.
According to Dasgupta, SET India can be ready with such special packages and services “within three months” as Sony is already in the process of digitalising its content.
Meanwhile, Dasgupta feels that with the Shiv Sena staunchly opposed to CAS in Mumbai, addressability issue now would get deferred to after the general elections late next year.
Also Read:
MRTPC directs Star, Sony, ESS to join HITS?
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.
