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Top 3 MSOs need Rs 5.5 bn to fund first phase of digitisation
MUMBAI: The top three listed multi-system operators (MSOs) will require a funding of Rs 5.5 billion in the first phase of digitisation but expect their business models to strengthen due to a massive jump in subscription revenues.
Hinduja-controlled IndusInd Media & Communications Ltd (IMCL) is looking at investing Rs 2.5 billion while Den Networks will require Rs 2 billion. Hathway Cable & Datacom, which has already seeded two million set-top boxes (STBs), will need Rs 1 billion to digitise one million homes.
IMCL will borrow Rs 2 billion even as it plans to seed two million STBs in Delhi and Mumbai. “We have already seeded 0.5 million boxes. We have an investment plan of Rs 2.5 billion in the first phase of digitisation, out of which we will take Rs 2 billion as debt. We will need 1.3 million STBs in Mumbai and 700,000 in Delhi. We also plan to expand in Kolkata where we have a licence to operate but have no presence yet. We could look at making an acquisition in that market,” said IMCL MD and CEO Ravi Mansukhani.
The Cabinet today cleared the proposal for an ordinance to commence work on digitisation of cable television to meet the 31 March 2012 deadline in the four metros.
Den Networks president, strategy and business development MG Azhar feels that execution rather than funding will be a challenge for the MSOs. “We are sitting on a cash of Rs 2 billion and have lined up debt of Rs 2 billion,” he said.
Den has ordered for two million STBs, in addition to 500,000 that is already lying with it. “Our backend infrastructure is in place as we knew that the government is going to mandate digitisation. We will require to seed 1.5 million STBs in Delhi and 700,000 in Mumbai. We have recently acquired a small network in Kolkata and will need to service that market too,” said Azhar.
Hathway will need one million STBs for the Mumbai and Delhi markets in the first phase. In Kolkata, it has a presence through its joint venture company, Gujarat Telelinks Pvt Ltd (GTPL), which acquired a 51 per cent stake in Kolkata Cable and Broadband Pariseva.
Hathway expects its revenues to jump 2.5 times in the fully digitised markets. “Our subscription revenues would go up much higher but there would be a drop in carriage income. We feel the carriage revenue will shrink by 70 per cent in these markets. Along with a revenue share with the cable operators, our Ebitda should be at 20 per cent. Dovetailed with broadband Ebitda, we should have an Ebitda of 25 per cent in the first two years of digitisation,” said Hathway Cable & Datacom managing director and CEO K Jayaraman.
Den expects its revenues to grow by four times. “We expect our subscription revenues to jump by 8-10 times after full digitisation. We do not expect any drastic fall in carriage revenue if we are able to hold our ground. Our Ebitda should be at around 35 per cent,” said Azhar.
Mansukhani warns that cable TV companies could be at a disadvantage if certain issues are not addressed. “Digitisation can‘t work without the entire Trai recommendations, including fiscal incentives, being passed. Pricing of channels for digital cable and revenue share should be defined. Unlike DTH, the cable TV chain has intermediaries like distributors and the local cable operators,” he said.
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With 57 per cent single new users, Ashley Madison rebrands as discreet dating platform
Platform says majority of new members now identify as single
INDIA: Ashley Madison is shedding the “married-dating” label that defined it for two decades, repositioning itself as a platform for discreet dating in what it calls the post-social media age.
The rebrand, unveiled in India on 27 February, 2026, marks a structural shift in business model and identity. Once synonymous with married dating, the company now describes itself as the “premier destination for discreet dating” under a new tagline: Where Desire Meets Discretion.
The pivot is data-driven. Internal figures show that 57 per cent of global sign-ups between 1 January and 31 December, 2025 identified as single: a notable departure from the platform’s married core. The company argues that its community has already evolved beyond its original positioning.
“In an age where our lives have been constantly put on public display, privacy has become the new luxury,” said Ashley Madison chief strategy officer Paul Keable. He framed the platform’s offering as “ethical discretion” for singles, separated, divorced and non-monogamous users seeking private connections.
The shift also taps into wider digital fatigue. A global survey conducted by YouGov for Ashley Madison, covering 13,071 adults across Australia, Brazil, Canada, Germany, India, Italy, Mexico, Spain, Switzerland, the UK and the US, found mounting discomfort with hyper-public online lives.
Among dating app users, 30 per cent cited constant swiping and messaging as a source of fatigue, while 24 per cent pointed to pressure to curate public-facing profiles and early personal disclosure. Some 27 per cent said fears of screenshots or information being shared contributed to exhaustion; an equal share cited unwanted attention.
The retreat from oversharing appears broader. According to the survey, 46 per cent of adults actively try to keep most aspects of their life private online. Only 8 per cent feel comfortable sharing most aspects publicly, while 35 per cent say they are becoming more selective about what they disclose.
Ashley Madison is betting that this cultural recalibration towards controlled visibility can be monetised. By doubling down on privacy infrastructure and reframing itself around discretion rather than infidelity, the company is attempting to convert reputational baggage into a premium proposition.
