TV households will cross 200 million by 2028: FICCI EY report

Television in India continues to expand in scale even as it undergoes structural shifts, with total TV households rising to 193 million in 2025, up from 190 million in 2024 and 186 million in 2023, according to the latest FICCI-EY Media and Entertainment Report 2026 released by FICCI in collaboration with Ernst & Young.

The report also projects that the total TV households will cross 200 million in the next two years, signalling continued expansion.

The report said, the growth was led by Free TV, which expanded from 45 million households in 2023 to 49 million in 2024 and 53 million in 2025, with FreeDish alone estimated at 53 million homes. Pay TV and Connected TV combined stood at 140 million in 2025, with linear Pay TV losing 11 million subscriptions to Connected TV and Free TV. 

Free TV added 4.5 million subscriptions, while Connected TV grew by around 10 million, underlining a shift in consumption rather than a contraction of the medium.

The report emphasised that television is not shrinking but transforming, with bundled offerings expected to accelerate as distributors integrate Pay TV with IPTV and broadband services. 

Pricing and packaging strategies are likely to evolve, while interactivity is set to increase to deepen consumer engagement and build first-party data. Broadcasters are also expected to intensify their free-to-air strategies, particularly given the scale of FreeDish, while content economics may shift toward shared IP ownership and windowed exploitation of rights.

It said that Connected TV is emerging as a key growth driver within the ecosystem. Advertising revenues on Connected TV grew 42% to ₹99 billion in 2025 and are expected to reach ₹164 billion by 2028.

Combined advertising revenues across linear and Connected TV remained stable at ₹362 billion, highlighting a shift in ad spends rather than an overall decline. The report also noted that high-impact properties will continue to command disproportionate advertising revenues.

On the supply side, the number of television channels increased to 956 in 2025, up from 944 in December 2023 and 936 in June 2024. This growth was driven by free-to-air channels, which rose to 621 in December 2025 from 581 in December 2023, while Pay TV channels declined from 363 to 335. 

“As a result, 65% of total channels are now free-to-air. Additionally, 13% of channels are in HD, with news accounting for 36% of all channels, followed by general entertainment at 25% and movies at 13%. Within the Pay TV segment, 51% of channels are general entertainment and movie channels,” it said.

Distribution platforms continued to rationalise, with the number of multi-system operators (MSOs) declining from 1,702 in December 2020 to 880 in June 2024 and further to 818 in September 2025, driven by consolidation and a shift toward digital platforms. The report also highlighted industry developments such as GTPL Hathway Limited operationalising India’s second HITS licence, reflecting ongoing infrastructure evolution.

From a consumption standpoint, linear TV viewership declined marginally, although average weekly reach remained stable at around 745 million. 

Entertainment, music and movies continued to dominate, accounting for 80% of viewership, with audiences under 50 years contributing 81% of consumption, it said.

Non-Hindi content maintained a strong share, contributing over 50% of total viewership. While news, movies and infotainment viewership declined, sports viewership saw an increase during the year.

Despite these positives, monetisation pressures persisted. 

Linear television revenues fell 9.2% in 2025, marking the fourth consecutive year of decline. Total TV revenues declined from ₹710 billion in 2023 to ₹679 billion in 2024 and ₹617 billion in 2025, and are projected to fall further to ₹587 billion in 2026 and ₹535 billion by 2028. 

Advertising revenues dropped from ₹312 billion in 2023 to ₹294 billion in 2024 and ₹263 billion in 2025, while distribution revenues fell from ₹398 billion to ₹385 billion and ₹354 billion over the same period.

Linear TV advertising revenues declined 10.3% in 2025 due to an 11.5% drop in ad volumes, as brands shifted budgets to point-of-sale advertising and regulatory changes such as the ban on real-money gaming advertisements impacted sports broadcasting. Subscription revenues also fell 8.3% during the year, despite a 2.4% increase in ARPU to ₹288 (gross of taxes).

The report said that at the same time, the distribution industry is expected to consolidate further to maintain scale and improve cost efficiencies. While challenges such as piracy across linear and digital platforms persist, the report underscores that television remains a large and resilient medium, adapting to changing consumption and monetisation dynamics rather than facing decline.