India's TV Empire Crumbles: Streaming Reigns Supreme

India's pay-television sector experienced a significant contraction, shedding 40 million subscribers between 2018 and the end of 2025, reducing its base to 111 million. This decline is largely attributed to the aggressive growth of over-the-top (OTT) streaming platforms. The media landscape was further reshaped by the November 2024 merger of Reliance Industries and Walt Disney Company, forming JioStar, an entertainment powerhouse commanding both linear TV channels and streaming services like the dominant JioHotstar.

While the urban population increasingly embraces streaming, linear television, especially free-to-air channels like DD Free Dish and free-to-air cable, continues to hold strong in tier-two, tier-three, and rural areas. These segments offer a cost-effective alternative for millions, demonstrating a stark viewing pattern split between metro streaming habits and the more traditional, appointment-based viewing prevalent in the heartland.

The industry's future hinges on convergence, with broadband bundles becoming crucial for survival. Pay TV operators are increasingly shifting towards hybrid ecosystems that integrate satellite delivery with OTT content and smart TV experiences. This strategic pivot aims to retain relevance amidst a rapidly evolving entertainment consumption landscape, though the long-term decline in urban areas is undeniable.