WAVES Summit 2025: Linear TV isn't dead, it's evolving: Uday Shankar

Time of India

03-05-2025

Uday Shankar
, Vice Chairman of the newly merged Reliance-Disney media entity— JioStar, took centre stage on Day 3 of the
Waves Summit 2025
in a fireside chat with
Vivek Couto
, managing director,
Media Partners Asia
(MPA).
In a conversation, Shankar reflected on the sweeping changes reshaping the Indian
media and entertainment
industry. He spoke about the pivotal moment the sector finds itself in, with technology, consumer behaviour and scale-driven disruption all converging.
He underlined that while digital platforms have captured attention and investment in recent years, linear television — particularly Pay TV — continues to hold significant relevance in India.
"Linear TV isn't dead — it's just evolving," he said, noting that India remains a unique market where television still plays a central role in
content consumption
, especially in regional and rural pockets. However, he added, the business model and user experience around TV will need to adapt to keep pace with rising consumer expectations shaped by digital platforms.
Shankar also discussed the importance of local content and IP creation, saying the next wave of growth will come from building stories that can travel globally but are rooted in Indian culture. He stressed the need for industry players to look beyond short-term metrics and focus on creating sustainable, long-term value — creatively and commercially.
On streaming, he highlighted the milestone that around 700 million Indians are now consuming
digital content
regularly, with JioStar alone attracting over 500 million users. While praising the strides made, particularly in sports content localised across dialects like Bhojpuri and Haryanvi, Shankar noted that content creation is still lagging behind audience demand. Imported formats and global models, he argued, cannot sufficiently address India's scale or diversity.
'The real leap will come from producing more content rooted in Indian culture that resonates domestically and can travel globally,' he said. This, he emphasised, calls for substantial investment in creative infrastructure—not just in capital, but in storytellers, writers, and fresh talent.
Shankar also critiqued the Hindi film industry for stagnation, contrasting its performance with the creative resurgence in southern cinema. He said, 'The audience has moved far ahead, but the creative industry in Bollywood is stuck in time.' Challenges in theatrical exhibition, including high ticket prices and limited screen availability, especially in North India, have further contributed to the dip in box office performance.
Touching on monetisation, he challenged the industry to innovate beyond traditional advertising and subscription models, which have remained unchanged for decades. 'Despite advancements in content and distribution, monetisation remains primitive,' he said, urging the need for new revenue models that reflect changing consumer behaviors and economic realities.
The conversation also addressed the transformative potential of the JioStar merger. In just three months since the merger, the company has reversed declining Pay TV trends and expanded its streaming base significantly. Shankar credited this to a clear focus on India-centric strategies and affordability, saying, 'If you want to reach 300 million people, you must keep affordability at the core of your strategy.'
He disclosed that between 2023 and 2025, the combined entity spent more than $10 billion on content alone, reinforcing its commitment to high-quality, locally resonant entertainment.
He said, 'In 2024, the two companies (Disney Star & Viacom18) spent INR 25,000 crores on content alone. In 2025, that number went to INR 30,000 crore and the number next year will be over INR 32,000–33,000 crore. So in three years alone, we have spent more than 10 billion dollars.'
He further added, 'When an Indian media company invests a dollar, it is entirely targeting the Indian consumer—their tastes, their requirements—and the recovery is also from India. When a global company spends that money, more often than not, they are not looking at the Indian market or the Indian consumer as their primary target."
Looking ahead, Shankar envisions India's $30 billion video entertainment industry growing significantly over the next 15 years—potentially rivaling global leaders like China and the U.S.—provided three critical levers are addressed: deeper distribution, hyper-localised content, and expanded creative capacity.
He concluded with a call for bold experimentation and sustained investment, affirming that the fundamentals of storytelling, scale, and strategy will remain paramount.