India’s television market is seeing steady growth, with total revenue projected to rise from $14 billion in 2024 to $18.1 billion by 2029, according to a recent report by professional services network PwC (PricewaterhouseCoopers). The growth is being driven by an increase in pay TV households, even as streaming platforms expand their footprint.
Industry executives say India’s long-standing shared-screen culture is a key factor. Unlike global markets where OTT has replaced cable, Indian households tend to see OTT as additive rather than substitutive. Broadcasters have also reinforced this advantage by doubling down on regional content and adopting smarter pricing strategies over the past few years.
“In India, unlike most global markets, TV and OTT are not substitutes; they fulfil entirely different consumer needs,” said Sandeep Gupta, chief operating officer – broadcasting business, Shemaroo Entertainment Ltd.
“Nearly 160 million Indian homes still watch linear TV, and a significant portion of the next 20–30 million households entering the entertainment ecosystem will also begin with television.”
Gupta said that for NCCS B–C–D households—middle-income segments classified under the New Consumer Classification System—a cable or DTH pack priced at ₹200– ₹350 per month delivers over 100 channels across multiple languages, making it the most economical and reliable shared-screen option. OTT, by contrast, requires multiple paid subscriptions and dependable broadband connectivity, both of which increase household costs.
This, he added, explains why OTT growth remains urban-skewed and individual-first, while television continues to be family-first.
Cultural anchor
The living-room television continues to function as a cultural anchor for Indian households, agreed Anil Suryavamshi, vice-president – digital (south & west) at media agency Carat India.
“OTT fulfils the need for personalised, mobile-first viewing, but communal content still lives on TV,” Suryavamshi said. “As long as we have multi-member, multi-generational households, television will remain the default shared medium, and that stickiness is what keeps subscriptions stable.”
He added that the distribution ecosystem is reshaping pay TV rather than replacing it. In tier-two to tier-four markets, DTH remains more affordable, easier to install, and more reliable than broadband. While OTT growth is constrained by internet quality, TV growth is supported by its frictionless reliability.
Subscription fatigue is also being addressed through aggregation, industry executives said. Platforms such as Tata Play Binge, Airtel Xstream, Amazon Channels, and hybrid cable bundles are combining TV and OTT services under a single bill and interface.
This bundled approach enhances perceived value for consumers while giving broadcasters predictable subscription revenues—something pure-play OTT platforms still struggle to ensure.
Regional strength
Broadcasters have also played a role in sustaining television’s momentum by strengthening regional programming. Across the industry, there is a renewed focus on regional storytelling, sharper daypart strategies, and family-oriented entertainment tailored to the hinterland.
Regional markets are seeing a surge in high-quality programming across Hindi, Marathi, Tamil, Telugu, and Bangla. Reality shows, music competitions, live events, and blockbuster movie premieres continue to be television-first experiences that drive habitual viewing and subscriptions.
“Television continues to hold a unique place in Indian households, and that emotional and cultural stickiness is a major driver of subscription growth,” said Sanjay Dwivedi, group CEO and group chief financial officer, Balaji Telefilms Ltd.
“Even as OTT expands, families still rely on TV for shared, appointment-based viewing—especially daily fiction, reality entertainment, and live events.”
Growth constraints
To be sure, the sector faces challenges. Rajesh Sethi, partner and leader – media, entertainment, and sports at PwC India, noted that broadcast TV advertising revenue is projected to grow at a modest 2.5% CAGR between 2024 and 2029.
This slowdown is being driven by cord-cutting, audience fragmentation, and advertisers shifting budgets towards digital formats such as advertising video-on-demand (AVoD) and connected TV (CTV).
Another concern is the dilution of television’s exclusivity as smart TVs proliferate. “The biggest challenge for TV is protecting its distinctive IP when most major shows also appear on CTV and broadcaster apps,” said Russhabh R. Thakkar, founder and CEO, ad-tech firm Frodoh.
As households increasingly switch between linear and digital feeds on the same screen, TV’s exclusive pull weakens. “The way forward is stronger IP that premieres on TV first and creates appointment viewing that digital cannot immediately mirror,” Thakkar said, adding that broadcasters must use CTV to widen reach without losing identity.