Tata Play FY26 loss widens to Rs 551 cr as DTH subs bleed to streaming, Free Dish
Tata Play's FY26 net loss widened 4.2% to Rs 551 crore while revenue dropped 13.5% to Rs 3,530 crore. DTH subscribers fell to 51M from 57M as customers migrated to JioHotstar, Netflix, Prime Video and DD Free Dish. Market share slipped to 31.08% amid a prolonged Sony channel standoff; ARPU rose just ~1% YoY.
What happened
Tata Play's FY26 net loss widened to Rs 551 crore and revenue fell 13.5% to Rs 3,530 crore as DTH subscribers migrated to DD Free Dish and streaming platforms;
Key facts
- Net loss Rs 551 cr FY26
- up 4.2% from Rs 529 cr
- Revenue Rs 3,530 cr down 13.5%
- DTH subs 51M Dec 2025 vs 57M
- Market share 31.08%
- ARPU up ~1% YoY
Why this matters
With market share at 31% and subs eroding to streaming and Free Dish, consolidation talks with Dish TV or a strategic OTT pivot via Disney+/Jio partnerships warrant urgent evaluation.