Bad news for employees of this industry as 577000 workers have lost jobs due to...
According to the State of Cable TV Distribution in India report by the All India Digital Cable Federation (AIDCF) and EY India, nearly 5.77 lakh jobs in the sector have been lost between 2018 and 2025.
In 2018, an estimated 151 million households in India had Pay-TV connections. That number fell to 111 million by 2024, as defined in the report. Pay TV allows users to subscribe to many television channels (much like a cable bill) for a fixed amount of money. The report also projects that there will be 71 – 81 million Pay-TV subscribers by 2030. This shows that in comparison to 2018 the user base could be cut almost in half by 2030. A reduction of nearly 40 million subscribers can be attributed to a variety of reasons: the increase in price of TV channels, the popularity of OTT services like Netflix and Amazon Prime, and free alternatives like DD Free Dish. People are spending more time on streaming services and less time on traditional television channels.
This decrease has caused large economic losses to the cable TV industry. In 2019, the combined revenue of the four main DTH (Direct-to-Home) operators and ten major Multi-System Operators was ₹25,700 crore. In 2024, the revenue was ₹21,500 crore, or about a 16% decrease. In the same five years, the profit margin (EBITDA) for these DTH and MSOs also fell substantially by 29%, from ₹4,400 crore in 2019 to ₹3,100 crore in 2024.
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First Post
2 days ago
- First Post
Suhail Chandhok exclusive on growing a team in non-cricket market: 'We are a nation that loves heroes, not necessarily the sport'
U Mumba CEO and TV presenter Suhail Chandhok, in this exclusive chat with Firstpost, spoke about the challenges he faces as sports administrator, India's sporing culture and the future of Indian sports. Suhail Chandhok has worn many hats, including those of a cricketer, an actor, a TV presenter, and now CEO of U Mumba. However, he says that the transition to the administration side of this industry was 'natural' for him. In an exclusive interview with Firstpost, Suhail spoke about his journey, the challenges of being a young CEO, and his belief in building the right team culture. His love for sport began on the field, and when his playing days ended, he found a job as a TV presenter/commentator, doing stints for the Pro Kabaddi League, the Indian Premier League, and other sports. Now, Suhail has moved to the business side with kabaddi becoming his launchpad. STORY CONTINUES BELOW THIS AD On the financial side, Suhail revealed that sponsorship for non-cricket leagues hovers between Rs 3.5-5 crore a season, but he stressed that media rights are the real game-changer and play a big role in revenue generation. Suhail urged that more media platforms must back Indian sports. 'I think sponsorship is always something that is going to dictate a measure of success in some sense but I think that's not necessarily right, because sponsorship is only one metric of value. For instance, yes, you know, some teams are more successful than, let's say, three or four other leagues, whether it be volleyball, kho-kho, tennis, or badminton.' 'However, I think there is value that each sport brings to its own niche. Having said that, it has roughly been around the four to five crore mark in terms of sponsorship. That goes up and down, it yo-yos between three-and-a-half to four-and-a-half, five crores per season. 'Media rights are a big unlocking value, and I think we have to understand that media rights will always drive the overall value of a sport, of a franchise, of a team. That will continue to dictate value. However, that's where the market plays a big role. Today, we're again heading into what is potentially a monopoly market of Jio and Star coming together and I do hope that unlocking value continues. STORY CONTINUES BELOW THIS AD Suhail also warned about the growing trend of big conglomerates controlling all the stakes in major sporting leagues in India, especially in terms of broadcast. 'We shouldn't lean on a monopoly market. I do hope to see more and more media houses come in that want to house sport, whether it be global entities entering India, like Netflix and the WWE deal. It's a great dictate for what the future of sport might look like. When you look at the effect that a Formula 1 movie has had, or a Drive to Survive show has had, or WWE now being on Netflix, I do hope more global platforms look at Indian sport and Indian leagues as a potential. I think the next ten years are going to be very strong for India, and more platforms need to enter the market.' Suhail on taking PKL to next level The Pro Kabaddi League (PKL) has already grown into one of the biggest sporting leagues in India, second only to the IPL in stature. Suhail opened up about the gaps that can be filled by the PKL organisers to make the league even bigger in India. 'I think listening to the franchises' needs a little bit more is important. All of us – all 12 teams – are looking to work with the PKL to grow the sport. What we need to do is unlock the true value of the sport. While the league, as an entity, is largely owned by the broadcaster, I think we still need to separate the two and work with the teams, the stakeholders of the sport, and others who are genuinely trying to promote it.' STORY CONTINUES BELOW THIS AD 'We must also clamp down on any rubbish that's going on. We need to be very stern and focused on the progress of the sport in one clear direction. The league has done a fabulous job of building it to where it is today, but now it's the league's responsibility to take it up an extra notch. How do we commit to the future of the sport when we already have such strong stakeholders?' 'In terms of stature, I think only the IPL is a rival. We have the Kotak family, the Screwvala family, the Adanis, JSW, the Bachchans, Capri Global, and other private investors in the mix. This is a strong core group of team owners who are not looking for a quick exit, which means the sport is in safe hands. When the sport is in safe hands, it's our responsibility to stay true to it, unlock its value, and not stunt its growth.' STORY CONTINUES BELOW THIS AD Suhail believes that it is important to support new entrants because it will only help the sport grow. 'It's equally important to support others around the sport who are trying to do good for it. At Elev8 India Sports, we follow a 'copyleft' policy – we want to see more and more people come in. It's not about copyright and blocking; it's about allowing people to enter, contribute, and help the sport grow. Kabaddi is still at a nascent stage, so we need more people to talk about it, work for it, and build it up. Blocking new entrants will only curb enthusiasm and growth.' Suhail stressed that growing the sport is not just the league's job, but a shared duty for everyone involved. 'Everyone has a responsibility to help the sport grow. At the same time, we must educate players about what is right and wrong. Addressing certain issues today will help the sport clean up its act for the future as well.' STORY CONTINUES BELOW THIS AD Suhail on issues non-cricket leagues face Suhail also talked about the challenges that a growing sport like kabaddi faces. He said that when big money enters a sport suddenly, it can sometimes distract players from the true motivation of why they started playing in the first place. 'When a lot of money comes into the sport very very quickly, players stop understanding what the true value of why they are playing this game. You start to play for the auction or you start to play for your personal value rather than the value of a team. I think it's only very natural. It happened with the IPL when there was sudden unlocking of value where players started playing for their franchises rather than playing for their nations. Rather than committing to the calender of a country, they started playing where the money was. That is happening with kabaddi as well and I think helping players understand why they are playing this sport, why the sport has give them so much.' STORY CONTINUES BELOW THIS AD 'So, player education is important. At Elev8 India Sportz Yuva Series we do a lot of financial literacy, we do a lot player psychology, we work with players understand anti-corruption, what their true value is.' Suhail on positive and negative trends in non-cricket leagues Suhail said the most promising sign is that Indian sports culture is slowly expanding beyond cricket. However, he pointed out that India's tendency to idolise individuals rather than the sport itself is a major issue. 'I think the trend is that we are leaning towards not just cricket. And I think that's something that has to happen for a country to become a true sporting nation. Firstly, there's one big challenge in India: we are a nation that loves heroes and not necessarily the sport. When I worked on the badminton league, people would rush to watch your PV Sindhu versus Saina Nehwal.' 'But when you had a Carolina Marin facing off against a world number two and number one at the time, the stadium would be empty. So we appreciate heroes and not the sport, and I think that needs to change for India to take steps towards becoming a true sporting nation. However, look at the flip side — while we turned up in large numbers to watch a javelin event, we may have all turned up in 10,000 numbers to watch a Neeraj Chopra.' STORY CONTINUES BELOW THIS AD 'But when you get there and watch Neeraj Chopra, you start to understand what the sport of javelin even is. So I think it takes a hero to bring about awareness to a sport and vice versa. But at the same time, I do hope that while 10-15,000 people turned up to watch a javelin event in Bangalore — and I think that's a sign that India is heading in the right direction — I hope that tomorrow, when Neeraj Chopra is not necessarily the only guy that's there, at least 5,000 people do turn up to watch a javelin event.' 'And I think that's going to be the hallmark of success going forward. Because while we are talking about a 2036 Olympic bid, I hope that we understand that we have to build sporting culture, and that starts with everyone playing a sport. When you play a sport, you'll automatically tune into watching a sport. And I think that's what I want for all of us to do.' 'But I think the trend is very positive — more and more people are taking to a tennis court, a badminton court, a table tennis table, a pickleball court, a paddle court, playing football with their friends, playing kabaddi with their friends in their neighborhood.' Suhail on turning down offers from IPL teams Suhail revealed that he turned down management offers from teams in three different sports, including IPL franchises, before joining U Mumba at what he called 'the right time.' 'I unfortunately can't give you a full disclosure on those. All I will say is it's been across three different sports. I think the timing was such that it came at the right time with kabaddi. Since then, there's been a couple of others as well, including IPL teams. I will come back to I guess cricket in many ways and forms was one opportunity that, that came and went. I just thought that it would've taken a much bigger commitment in terms of time, and I don't think I would've been able to do broadcast at all if I took on a slightly larger commitment as well,' he said. 'Uh, but also I think it was the ability to do it at the right time, right? And I've always been someone that believes that things happen when they need to happen. And I think, you know, saying yes to the right opportunity is absolutely critical as well. There have been opportunities not just in India, but outside of India as well — again, very exciting stuff. And it's always nice to know you're wanted, right? I think that means you're doing something right.' Suhail on his equation with U Mumba owner Ronnie Screwvala While Suhail doesn't own a stake in U Mumba, he has full autonomy in running things as a CEO. He also acknowledged that he leans on his father-in-law, Ronnie Screwvala (owner of parent group U Sports), for advice related to the finances of the team. 'Unfortunately, not (on being asked if he owns a stake in U Sports). I am purely here as a consultant and a CEO. But look, I think there are positives and negatives to being so closely related to a franchise and to the owner of a team, especially when someone is of Ronnie's stature as well. I think he's an extremely hard taskmaster, and I think with that comes two sides, right? You have to have a great deal of transparency and honesty with yourself and, therefore, with him as well, and I was very clear about it when I took on the role." 'I think there's even more pressure when you take on a role where you're so closely related. There's so much more that you have to have in terms of belief so that you can put aside anything that anyone could potentially say. The good thing is that everyone knows I come in with a lot more sporting knowledge than many others here, and I think that for me was the number one conversation I had with Ronnie. I said, 'You know what? If it's a business decision, if it's something related to finance, I want to make sure that the door to you is open and I can come and have a chat and get the advice I need from you. But when it comes to sporting decisions, they have to be mine and mine alone.' And, you know, to this date, he's honoured that.' 'But at the same time, when it comes to the business side of things, I have the ability to tap his brain, and I think that's something wonderful to have. So while there is the added pressure of that, I think when you have the conviction of knowing you know the subject better than anyone else, you go in with that confidence.'
Time of India
2 days ago
- Time of India
GST reforms push: PM's Diwali GST rate cut plan seen as timely; experts say it will boost economy
Prime Minister Narendra Modi's announcement of GST 2.0, with rate cuts to be rolled out by Diwali, is a timely and strategic step to strengthen the , according to tax experts. From the Red Fort on Independence Day, Modi said GST rates will be lowered on everyday-use goods as part of reforms to the eight-year-old tax regime, aimed at reducing litigation and evasion. Tired of too many ads? go ad free now The Finance Ministry later said the proposal envisages two slabs — standard and merit — plus special rates for select items, replacing the current four brackets of 5%, 12%, 18% and 28%, with luxury and sin goods attracting an additional levy, according to PTI. 'The Prime Minister's vision for GST 2.0 is a timely and strategic move to build a resilient Indian economy. These are not merely procedural changes; they are essential structural reforms designed to mitigate the risks arising from global trade tensions,' said Saurabh Agarwal, Tax Partner, EY India. 'By addressing the inverted duty structure, we are unlocking crucial working capital and making our exports more competitive,' he added. Krishan Arora, Partner – Tax Planning & Optimisation, Grant Thornton Bharat, said GST rate rationalisation has been long expected. 'The rate rejig of items of daily consumption from 12% to 5% could help not only reduce end-product prices but also boost consumption and demand, especially for MSMEs,' he noted , quoted PTI. Since its launch, GST has doubled the indirect tax base to 1.52 crore, but revenue only recently recovered to pre-GST levels due to tax cuts and the pandemic slowdown. Vivek Jalan, Partner, Tax Connect Advisory Services LLP, said two GST Council meetings may be held in September as part of the rate rationalisation exercise. 'It is expected that this Diwali, items of mass consumption by the common man will be brought into the lower slab of 5%. Tired of too many ads? go ad free now For example, small sachets of Rs 10 or less supplied by FMCG players may be considered for the lower bracket,' he said. CII Director General Chandrajit Banerjee said the PM's address underscored a commitment to empowering youth, strengthening MSMEs, and accelerating the Atmanirbhar Bharat mission. He highlighted the Rs 1 lakh crore PM-Viksit Bharat Rozgar Yojana, which offers Rs 15,000 support for first-time job seekers. Harsh Shah, Partner, Economic Laws Practice, said the reforms could include doing away with the 12% slab, rationalising rates for health and life insurance, and clarifying blocked credit provisions. 'With GST collections in FY 2025-26 likely to exceed Rs 22 lakh crore, the time is right to boost the economy, especially given recent geopolitical headwinds,' he added.
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Business Standard
2 days ago
- Business Standard
PM Modi's GST Diwali bonanza timely and strategic move, say experts
The announcement by Prime Minister Narendra Modi regarding GST 2.0 is a timely and strategic move to build a resilient Indian economy, according to experts. From the ramparts of the historic Red Fort, Modi announced that the GST rates will be lowered by Diwali, bringing down prices of everyday use items, as his government looks to reform the eight-year-old tax regime that has been plagued by litigation and evasions. Later, the Finance Ministry said it has proposed that most goods and services be taxed in two slabs - standard and merit - and a select few items be charged special rates. This is to replace the current goods and services tax (GST) structure, where the sale of goods and rendering of services are taxed in four different brackets - 5, 12, 18 and 28 per cent, with luxury and sin goods attracting a levy on top of the highest rate of 28 per cent. "The Prime Minister's vision for GST 2.0 is a timely and strategic move to build a resilient Indian economy. These are not merely procedural changes; they are essential structural reforms designed to mitigate the risks arising from global trade tensions. By addressing the inverted duty structure, we are unlocking crucial working capital and making our exports more competitive on the global stage," said Saurabh Agarwal, Tax Partner, EY India. Simultaneously, rationalising rates will boost domestic consumption, creating a powerful buffer against external shocks, Agarwal added. Krishan Arora, Partner-Tax Planning & Optimisation, Grant Thornton Bharat, said GST rate structure rationalisation has been on the cards for a while now. "With the announcement by the Prime Minister, it seems the rate fitment work is complete and one could expect the rate rejig of items of daily consumption falling in 12 per cent to 5 per cent, which could help not only reduce end-product prices but also boost consumption and demand, especially for MSMEs," Arora said. The eight-year-old tax regime, which merged central taxes like excise duty and state levies like VAT into one tax, has led to the indirect tax base doubling to 1.52 crore, but tax rate cuts and the pandemic slowdown have meant net revenue collected has only recently converged to the pre-GST level. Vivek Jalan, Partner, Tax Connect Advisory Services LLP, said the GST Council has not met for the last eight months as a massive exercise for rate rationalisation is underway, and a Group of Ministers (GoM) are reviewing the comprehensive rate rationalisation programme. "It is expected that this Diwali, items of mass consumption by the common man will be brought into the lower slab of 5 per cent GST. For example, small sachets of Rs 10 or less supplied by FMCG players may be considered to be brought under the lower tax bracket of 5 per cent," he added. Jalan said a lower GST rate will augur well for the overall economy. CII Director General Chandrajit Banerjee said the Prime Minister's Independence Day address reflects a deep commitment to empowering India's youth, strengthening MSMEs, and accelerating the Atmanirbhar Bharat mission. The milestone of the Rs 1 lakh crore youth empowerment initiative of the PM-Viksit Bharat Rozgar Yojana, with its Rs 15,000 support for first-time job seekers, has the potential to create large-scale employment opportunities, enhance skills, and open pathways for sustained livelihoods, he noted. MSMEs, as the backbone of India's economy, stand to gain significantly from these measures. Increased access to talent, targeted incentives, and a stronger domestic manufacturing ecosystem will enable them to scale, innovate, and integrate more deeply into global value chains, Banerjee said. "The long-awaited GST 2.0 now seems even closer. The Prime Minister, in his speech on the 79th Independence Day, has promised a bonanza for aam aadmi in Diwali. There is a possibility of two GST Council meetings in September in this regard. The possible reforms could include doing away with the 12 per cent slab, rate rationalisation for health and life insurance, some of the essential items, and clarity in the provisions regarding blocked credits," Harsh Shah, Partner, Economic Laws Practice, said. With the GST collections in FY 2025-26 likely to exceed 22 lakh crore (average monthly collection of 1.85 lakh crore), the time is right to provide the much-needed boost to the economy, especially considering the geopolitical situation over the last few months, he pointed out.
