India’s pay TV subscriber base is feeling the pressure of competition from OTT platforms, YouTube, and DD Free Dish, driven by affordable mobile data and diverse regional content offerings.
In 2024, a steady decline was observed, particularly in urban markets, with an estimated 5-7% drop in subscriptions.
As of September 2024, the total active pay TV subscriber base in India (specifically DTH – Direct-to-Home) is around 59.91 million according to TRAI data— which is a notable decline from 62.17 million subscribers recorded in June 2024.
Industry observers tell Storyboard18 that in 2025, this degrowth trend might continue, but at a slower pace, as rural and semi-urban areas still value traditional TV for its affordability and reliability.
Meanwhile, CTV will continue to grow, and will likely surpass the pay TV base by the year-end to touch 60 million households. CTV households in India currently stand at around 40 million.
While CTV adoption is expanding rapidly, replacing pay TV entirely remains unlikely in 2025 due to infrastructure limitations and affordability gaps, highlights Russhabh R Thakkar – Founder and CEO of Frodoh.
“A hybrid ecosystem may emerge where pay TV coexists with CTV, possibly seeing CTV households surpass 60 million in India by the end of 2025.”
“Looking ahead to 2025, this decline (in pay TV subscribers) is expected to taper slightly, as much of the urban subscriber migration has already occurred. Rural India, however, continues to value pay TV for its affordability and variety, serving as a stabilising factor in the market,” adds Sandeep Gupta, COO, Broadcasting Business, Shemaroo Entertainment.
Pay TV retains strong relevance in India, especially in non-metro regions, due to cultural habits and bundled affordability. Factors like sports viewership, regional channels, and family-driven consumption patterns will support its resilience.
But the decline in pay TV signals a shift in consumer preferences toward flexibility and on-demand content.
In terms of ad spends, pay TV was one of the first traditional mediums that moved towards a 95% recovery rate versus pre-Covid in CY22. However, since then, it hasn’t yet reached the pre-Covid levels.
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“The growth in the regional genre (on pay TV) is not anywhere close to even a high single-digit and remains a low single-digit growth in urban GEC, which means that potentially half of the TV advertising market is under stress, notes Karan Taurani – SVP- research analyst, Elara Capital.
He foresees pay TV advertising to grow only between 2-3% in CY25.
Therefore, to remain relevant, pay TV industry must adapt and innovate, addressing the growing demand for flexibility, personalisation, and convenience.
Without such efforts, Gupta adds, the sector risks further decline, particularly in urban markets where the shift to OTT and CTV is accelerating.
“While CTV is unlikely to significantly impact pay TV by 2025, it could gradually capture a larger share of viewership, particularly in urban and semi-urban markets, over the long term by offering a combination of services including video-on-demand content and linear channels,” he remarks.
Pay TV will pay off – only if reinvented
By introducing hybrid models and value-added services, pay TV could retain a portion of its audience while addressing the changing preferences of Indian viewers, suggest experts.
In 2025, projections indicate that the total number of pay TV homes may stabilise around current levels rather than drop significantly as operators adapt to changing consumer preferences, Prashant Puri, Co-Founder & CEO, AdLift
Despite the competitive pressures, the industry’s revenue is expected to reach approximately $12.3 billion by 2025, growing at a compound annual growth rate (CAGR) of 7%.
This growth reflects an increase in average revenue per user (ARPU) through premium offerings and bundled services.
To reinvent, Puri shares that many operators are exploring hybrid models that integrate traditional broadcasting with OTT offerings, which could potentially revitalise their subscriber bases. Moreover, the ongoing market demand for live sports and localised programming continues to draw audiences, providing opportunities for pay TV to maintain its relevance.
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Additionally, investing in technology that enhances user experience through personalised viewing options is crucial for attracting viewers back to pay TV, Puri adds.
Implementing competitive pricing strategies that provide more value and flexibility can also assist in retaining existing subscribers while appealing to new ones. Without these significant changes, the decline of pay TV in India is likely to persist.
Sports and other live events will remain key attractions, keeping pay TV relevant in many homes. On top of this, LED TVs with built-in pay TV and OTT subscriptions are expected to gain popularity, offering seamless access to entertainment without the need for extra devices, adds HS Bhatia MD of Daewoo India.
Looking ahead to 2025, experts foresee television as an industry overall to be a central pillar of media consumption in India, maintaining its role as a trusted and far-reaching platform.
Despite global challenges, India is poised to retain its position as the fastest-growing TV advertising market. In fact, the country is expected to rise from the seventh to the fourth largest TV ad market globally by 2028, with ad revenues growing at a compound annual growth rate (CAGR) of 4.2%.
According to a recent PwC’s report, ad revenues are projected to increase from Rs 31,000 crore in 2023 to Rs 38,000 crore by 2028, demonstrating the continuing strength of linear TV despite declines in other major markets.