Cable TV
Subscription revenues to touch Rs 306 billion in 2010
MUMBAI: Subscription revenues will drive growth in the television segment, jumping 29 per cent compounded annually over the next five years, from an estimated Rs 86 billion to Rs 306 billion in 2010.
The average monthly cable TV subscription fee is expected to go up from Rs 130 to at least Rs 250 per month by 2010, according to Federation of Indian Chambers of Commerce and Industry (FICCI) and PricewaterhouseCoopers (PWC) report titled Indian Entertainment and Media Industry – Unravelling the Potential. This growth is projected to be lower in the initial years, primarily due to regulatory interventions such as the price freeze on cable rates.
Further fueling the growth will be the increase in number of television households, especially in the lower socio-economic strata. “Cable and satellite (C&S) households are projected to grow faster than the growth in the number of television households and the number of C&S homes are projected to reach 90 million by 2010, growing at a compound annual growth rate (CAGR) of 10 per cent in the next five years,” the report said.
Television advertising, estimated at Rs 54.5 billion in 2005, is expected to touch Rs 105 billion by 2010. While Rs 95,000 million will come from C&S homes, Rs 10,000 million will be from terrestrial. In 2005, C&S advertising revenues are estimated at Rs 47,900 million and terrestrial Rs 6,600 million.
“The share of ad pie of terrestrial and C&S networks have not changed over the last two years and are not projected to change for the next five years, as both the broadcast mediums are expected to gain from the increasing advertising pie,” the report said.
The television segment is slated to grow from its present size of Rs 148 billion in 2005 to Rs 427 billion in 2010. Subscription revenues will increase its share from 58 per cent to 71 per cent, according to the report.
MUMBAI: When margins wobble, liquidity talks and in Q3 FY25-26, cash did most of the talking. Den Networks Limited closed the December quarter with consolidated revenue of Rs.251 crore, marginally higher than the previous quarter but down 4 per cent year-on-year, even as profitability stayed resilient on the back of strong cash reserves and disciplined cost control.
Subscription income softened to Rs.98 crore, slipping 3 per cent sequentially and 14 per cent from last year, while placement and marketing income offered some cheer, rising 15 per cent quarter-on-quarter to Rs.148 crore. Total costs climbed faster than revenue, up 7 per cent QoQ to Rs.238 crore, driven largely by higher content costs and operating expenses. As a result, EBITDA dropped sharply to Rs.13 crore from Rs.19 crore in Q2 and Rs.28 crore a year ago, pulling margins down to 5 per cent.
Yet, the bottom line refused to blink. Profit after tax stood at Rs.40 crore, up 15 per cent sequentially and only marginally lower than last year’s Rs.42 crore. A healthy Rs.57 crore in other income helped cushion operating pressure, keeping profit before tax at Rs.48 crore, broadly stable quarter-on-quarter despite the tougher cost environment.
The real headline-grabber, however, sits on the balance sheet. The company remains debt-free, with cash and cash equivalents swelling to Rs.3,279 crore as of December 31, 2025. Net worth rose to Rs.3,748 crore, while online collections accounted for 97 per cent of total receipts, underscoring strong cash discipline across operations, including subsidiaries.
In short, while Q3 showed signs of operating strain, the financial backbone remains solid. With zero gross debt, steady profits and a formidable cash war chest, the company enters the next quarter with flexibility firmly on its side proving that in uncertain markets, balance sheet strength can be the best growth strategy.
