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DTH Revenues Dip in FY25 While FM Radio Sees Growth: MIB Report

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The Ministry of Information and Broadcasting (MIB) reported a decline in revenue from the Direct-to-Home (DTH) television sector in FY25, signaling a waning user base for pay TV services. In contrast, earnings from the FM radio sector witnessed an uptick, according to the ministry’s latest financial disclosures. In FY25, revenue from private DTH operators stood at ₹648.73 crore, down from ₹692 crore in FY24 and ₹859.96 crore in FY23—a 25% decline over two years. Meanwhile, private FM radio revenues rose to ₹196.28 crore, up from ₹186.80 crore in FY24 and ₹178.99 crore in FY23. Overall, the ministry earned ₹1,012.39 crore in non-tax revenue in FY25 through the Bharatkosh platform on the NTR e-portal, primarily from TV and radio licensing fees. India’s DTH sector, comprising Tata Play, Airtel Digital TV, Dish TV, and Sun Direct, has seen a continuous drop in active pay-TV subscribers—from 70.26 million in 2020 to 56.92 million in 2025, as per TRAI data. This trend is driven by a growing shift toward OTT platforms and the free-to-air DD Free Dish service, which now reaches an estimated 50–60 million households. Adding to the sector’s challenges, the MIB issued demand notices exceeding ₹16,000 crore to private DTH operators for unpaid licence fees. Meanwhile, DD Free Dish, operated by Prasar Bharati, does not pay licence fees and falls outside the private DTH revenue structure. On the other hand, FM radio continues to maintain its relevance, especially in regional and semi-urban markets. Revenue is generated through entry and migration fees, licence fees, tower rentals, and processing charges. The ministry noted FM’s growing popularity among youth and advertisers, with 388 private FM channels operating across 113 cities in 26 states and 5 Union territories as of March 2024. New FM stations have also been launched in border areas such as Leh, Kargil, Bhaderwah, Kathua, and Poonch to bolster outreach efforts. TRAI data shows total advertising revenue for FM radio reached ₹466.63 crore in Q4 FY24, a slight drop from ₹500.11 crore in Q3, but still reflecting the medium’s resilience in a rapidly evolving media environment. Source: Economic Times

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Mukesh Ambani: Disney Deal Ushers in New Era for India’s Entertainment Industry

Reliance Industries Chairman Mukesh Ambani hailed the merger of media assets between Reliance and Walt Disney as a transformative moment for India’s entertainment sector. Speaking at the Reliance AGM, Ambani emphasized that the partnership marks the start of a new era by blending content creation with digital streaming, much like Reliance’s success with Jio and Retail. The deal, approved by the Competition Commission of India (CCI), combines Reliance’s media holdings, including TV18 and the Colors brand, with Disney’s assets, creating India’s largest media empire valued at over Rs 70,000 crore. The joint venture will house two major OTT platforms, Disney Hotstar and Jio Cinema, along with 120 television channels. Ambani highlighted that the combined media business would be a crucial growth center for the Reliance ecosystem, promising to deliver world-class digital entertainment to cater to diverse consumer tastes at affordable prices. “Our digital-first approach will deliver unparalleled content,” he added, underlining the potential of this venture to redefine India’s media landscape. The merger will see Reliance and its affiliates hold a 63.16% stake in the combined entity, while Disney will hold the remaining 36.84%. Reliance has committed to investing nearly Rs 11,500 crore into the venture to enhance its competitive edge against rivals like Sony and Netflix. Nita Ambani, wife of Mukesh Ambani, will chair the new joint venture, with Uday Shankar serving as Vice Chairperson. The CCI’s clearance of the merger followed adjustments proposed by both parties to the original transaction structure. Source: Business Standard