Dish TV rides GST relief to expand into smart TVs, eyes 25% non-DTH revenue

Arpora, Goa: Diversifying beyond its core DTH business, Dish TV India is aiming for 25% of revenue from non-DTH services within 18–24 months, CEO and Executive Director Manoj Dobhal said at Sunday’s launch of the company’s integrated smart TV line, VZY (Vibe, Zone & You).

With the GST Council’s rate reset kicking in on September 22 and TVs above 32 inches moving to 18% GST (earlier 28%), the premium end of the market gets a price breather just as Dish TV debuts 32-inch HD to 55-inch 4K UHD QLED VZY models. 

The company is positioning VZY as a plug-and-play entertainment hub that merges DTH and OTT in one device, reducing the friction of buying a television, a set-top solution and multiple subscriptions separately.

“This is just the beginning… We would not be a brand known only for linear TV going forward,” Dobhal told reporters on the sidelines of the launch.

“Dish TV should be known for everything around the content ecosystem, from device to content, streaming to linear. We are going to be present in each one of them.”

What VZY is solving for

Dobhal argued that in a crowded TV market with thin margins, integration is the differentiator. 

“If you buy a TV from premium brands or price warriors, you still add cable or a set-top box and OTTs. With VZY, you don’t need to bother, you have OTT, linear and live TV in one device,” he said.

The VZY range, manufactured by a third party and currently on Google TV , has been piloted and the company says early response is encouraging. 

“Going forward, maybe in the next one and a half to two years, we will have our own operating system,” Dobhal added. 

The VZY range will be available nationwide across retail and online channels.

The non-DTH playbook

VZY is part of a broader shift to build non-DTH revenue pools. Dish TV’s Watcho OTT platform launched in April 2019, and Shopzop, the company’s quick-commerce play that went live on August 11, 2025, has 4,000+ products listed. 

Non-DTH contributes around 10% of revenue today; the 25% target is tied to populating these verticals with more products and services.

Financial backdrop

Dish TV’s FY25 revenue stood at Rs 1,567.6 crore, down from Rs 1,856.5 crore in FY24, reflecting pressure on Pay TV subscribers and flat ARPU. Against that, the board has stepped up investment, Rs 1,200 crore for infrastructure, Rs 350 crore for a platinum jubilee benevolent fund, and Rs 500 crore for cricket development in 2023–24, while state associations received Rs 1,990.18 crore (with Rs 2,013.97 crore projected this year).

The GST cut to 18% for larger TVs creates room for either consumer price relief or channel incentives during the festive quarter, a window Dish TV is trying to capture with an integrated device pitch. 

For a DTH incumbent, the combined impact of hardware + content and a friendlier tax regime on screen sizes over 32 inches could improve conversion at the mid-to-premium price bands where the VZY range sits.

“We are no longer only a DTH player… we are shifting the orbit,” Dobhal said. “This is a bold move towards a journey that will pivot the organisation going forward.”