Whalesbook
Toh hua yun ki, Dish TV kaafi time se complain kar raha tha, par ab seedha court pohanch gaya. Unki demand hai ki DD Free Dish ko bhi same encryption aur digital system wale rules follow karne padenge jo private companies ko karne padte hain. Private operators ko infrastructure, licenses, aur subscriber systems mein paisa lagana padta hai, par DD Free Dish bina rules ke operate karta hai. Dish TV kehta hai yeh toh seedha-seedha unfair trade hai aur price-sensitive Indian market mein unko nuksaan ho raha hai. Court ne case accept kar liya hai aur June 2 ko hearing hai. Ab DD Free Dish par koi bhi naye channel application is case ke result par depend karegi.
Aur yeh sirf baatein nahi hain, numbers bhi sab bata rahe hain. India mein pay DTH subscribers 69.6 million (FY21) se kam ho kar 51 million (FY26 tak) ho gaye hain. Iska reason OTT apps toh hain hi, par DD Free Dish ka yeh free model bhi bada reason hai. Wahi, DD Free Dish champion ban gaya hai, lagbhag 53 million homes tak pahunch gaya hai 2025 tak. Broadcasters apne popular channels ko DD Free Dish par free mein dikha kar advertising se kama rahe hain, jahan pay DTH subscription se kamate hain. DD Free Dish ke channel slots ki auction se revenue ₹309 crore (FY17) se ₹927 crore (FY23) tak pahunch gaya hai. Samjh lo, yeh toh number 1 player ban gaya hai bina kisi pressure ke!
Bade players bhi pressure mein hain. Tata Play ka loss badh kar ₹510 crore ho gaya FY25 mein, revenue 5.46% gira hai. Airtel Digital TV ne bhi Q2 FY26 mein subscribers lose kiye aur ₹60.6 crore ka loss report kiya. Dish TV ka khud ka consolidated net loss ₹402.2 crore tha Q4 FY25 mein. December 2025 tak, pay DTH subscribers bas 50.99 million reh gaye the, market lagbhag khatam hone ko aa gaya hai.
Dish TV khud bhi financially bahut tight situation mein hai. Unka P/E ratio negative hai, matlab loss mein chal rahe hain. Unki market value ₹339-₹376 crore hai, jo private DTH operators ke investment se bahut kam hai. FY25 mein ₹487.66 crore ka net loss dikhata hai ki company ka future uncertain hai. Bade broadcasters bhi DD Free Dish par saste content dikha kar ad revenue grab kar rahe hain, jo pay-TV platforms se door ja raha hai. DD Free Dish ka free model license fees aur subscription issues se bachata hai, jisse competition mushkil ho jata hai.
Analysts abhi Dish TV ko 'Hold' rating de rahe hain, kuch potential growth ke saath. Lekin yeh sab DD Free Dish ke pressure aur company ki financial issues ke karan thoda doubtful hai. Kerala High Court ka decision DTH regulations ko permanently badal sakta hai. Agar DD Free Dish ki dominance bani rahi, toh pay DTH companies ke liye jeena mushkil ho jayega. Sabko apni strategy badalni padegi.