Indian DTH revenue decline slows to 3–4% in FY26, aided by IPTV growth and bundled services, despite ongoing subscriber losses.

Indian private DTH operators are expected to see a slower revenue decline of 3–4% in FY26, down from 5% in FY25, driven by growth in IPTV and bundled services combining broadband, live TV, and OTT content. Subscribers continue to fall, dropping from 72 million in FY19 to an estimated below 51 million by FY26, due to cord-cutting and competition from OTT platforms and DD Free Dish. IPTV subscribers nearly quadrupled to 2.13 million by September 2025, helping stabilize margins at 44–45% through reduced set-top box subsidies and added marketing revenue. South India shows stronger resilience due to regional content and less DD Free Dish competition, while affordability remains a barrier for bundled services.