Dish TV’s ad revenue surged 92% in Q3 FY26, while subscription income declined 32%
The company’s operating revenue fell by nearly 20% year-on-year
Pitch Feature
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Dish TV’s advertising income nearly doubled in the third quarter of FY26, rising 92% year on year to Rs 4.8 crore from Rs 2.5 crore in the same period last year, even as the direct-to-home operator continued to face pressure across its core subscription-led business.
Subscription revenue for the quarter declined sharply by 32.2% to Rs 224.5 crore, compared with Rs 331.1 crore a year earlier, underscoring the sustained stress in the company’s primary revenue stream. Operating revenue also fell 19.8% year on year to Rs 299.1 crore from Rs 373 crore in Q3 FY25.
Meanwhile, costs increased significantly. Total expenditure rose 36.1% to Rs 340.6 crore during the quarter, up from Rs 250.3 crore in the year-ago period. Marketing and promotional expenses climbed 27.5% to Rs 39.9 crore from Rs 31.3 crore, reflecting higher spending on customer acquisition and brand visibility.
Depreciation and amortisation expenses provided limited relief, easing 4.9% to Rs 102 crore from Rs 107.2 crore a year ago. However, losses widened substantially, with Dish TV reporting a loss of Rs 276.2 crore in Q3 FY26, compared with a loss of Rs 46.5 crore in the same quarter last fiscal—an increase of nearly 494%.
Commenting on the performance, Manoj Dobhal, CEO and Executive Director, said the company is responding to structural shifts in the home entertainment market. “The Indian home entertainment industry is undergoing a fundamental transformation, and Dish TV is actively repositioning itself to remain relevant and competitive. Our hybrid offerings integrate live TV, OTT and smart features into a single ecosystem, enhancing consumer convenience and engagement,” he said.
Dobhal added that deeper OTT integration, the scaling up of Watcho, creator monetisation through FLIQS, and high-impact content partnerships are intended to build a diversified and future-ready entertainment platform, which he said would strengthen the company’s value proposition and support long-term sustainability.
