GTPL Hathway has overtaken Tata Play to become India’s largest TV distributor by revenue in FY26. According to The Economic Times report, GTPL reported revenue of Rs 3,746 crore, compared with Rs 3,530 crore reported by Tata Play. The figures are based on regulatory filings.

GTPL Hathway, backed by Reliance Industries Ltd (RIL), has moved ahead of Tata Play despite having a smaller subscriber base. GTPL had around 9.6 million active cable subscribers, while Tata Play had more than 15 million DTH subscribers in FY26. Tata Play had remained the leading TV distribution company by revenue for several years.

The change in revenue ranking does not indicate a broader revival of cable TV. Both cable and DTH businesses are facing pressure as more viewers move away from traditional television towards streaming platforms such as Netflix and Amazon Prime Video. DTH operators had gained ground over fragmented cable networks during the past two decades, particularly after private operators entered the market in the 2000s.

The consolidated revenue figures for both companies include their core cable and DTH businesses as well as broadband operations. GTPL’s net profit fell to Rs 15.6 crore in FY26 from Rs 47.9 crore in FY25, while Tata Play’s net loss widened to Rs 551 crore from Rs 529 crore during the same period.

India’s DTH industry is also facing pressure, with the active pay-TV subscriber base falling to 49 million in FY26 from 70 million in FY21, according to TRAI data. The subscriber base of the top 10 cable companies, including those with HITS operations, also declined to 31 million in FY26 from 38 million in FY25.

GTPL is expanding its business through new services and acquisitions. The company has launched GTPL Infinity, a headend-in-the-sky (HITS) service aimed at expanding its presence in rural markets. GTPL, which is 37.3 percent owned by RIL-owned Hathway Cable & Datacom, also acquired the cable TV business of Atria Convergence Technologies (ACT) in South India for Rs 36 crore, adding more than 600,000 subscribers.

Tata Play has also expanded beyond traditional TV distribution by aggregating OTT and short-video platforms as viewers increasingly move towards digital content. In 2025, Tata Sons and Bharti Airtel held talks to merge their DTH businesses, but the discussions did not result in a deal.

 

 

Anirudhsinh Jadeja Managing Director GTPL Hathway

GTPL Hathway Managing Director Anirudhsinh Jadeja said in the company’s FY26 annual report that the company has maintained its subscriber base despite competition from free DTH services in rural areas, bundled telecom offerings and changing consumer preferences.

The wider industry is also seeing consolidation discussions. RIL has been considering a possible merger of its cable TV businesses under Den Networks and Hathway Cable & Datacom, according to people cited by ET. Tata Play is also expected to see a change in leadership, with its longstanding CEO Harit Nagpal expected to retire by November.

Overall, GTPL’s overtaking of Tata Play represents a change in the revenue rankings of India’s TV distribution industry rather than a revival of traditional cable TV. The sector continues to face pressure from falling pay-TV subscriptions and the growing shift towards digital and streaming platforms.