Pay-TV revenue to decline by 1-3% in FY26 due to subscriber churn: ICRA

The Indian pay-TV industry revenue is projected to contract by 1-3% in FY2026, driven by a sustained shrinkage in their subscriber base, which is increasingly shifting to either over-the-top (OTT) platforms or DD Free Dish services, provided by sole state-sponsored DTH operator – Prasar Bharti, according to rating agency ICRA.