DIRECT TO HOME INDUSTRY

DIRECT TO HOME INDUSTRY

MARKET ANALYSIS
9/25/2013

PRESENTED
BY
SAHIL SHARMA, 34 RANBIR SINGH CHIMNI, 37

TO DR CN SHYLAJAN

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CONTENTS
TELEVISION IN INDIA DTH INDUSTRY LIST OF DTH FIRMS MARKET SHARE CHANGE MARKET SHARE 2013 CONCENTRATION RATIO HERFENDHAL INDEX EFFECTS OF INCREASE PLAYERS BARRIERS PRICE PRICING STRATEGIES NON PRICING STRATEGIES GENERIC STRATEGIES POTERS MODEL DISH TV TATA SKY SUNDIRECT BIG TV AIRTEL VIDEOCON PRICE LEADERSHIP FIRST MOVERS ADVANTAGE SEEKS GOVT INTERVENTION APPENDICES
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ACKNOWLEDGEMENT
It is a great pleasure and privilege for us to present this project on DIRECT TO HOME INDUSTRY. We express our sincere sense of gratitude towards our professor Dr. Shylajan, under whose fruitful guidance, encouragement and support the project was completed. We would also like to thank Mr. Chaahat Khattar for providing us with the industries latest information.

DIRECT TO HOME : INDUSTRY

Television in India
The history of Indian television dates back to the launch of doordarshan, Indias national TV network in 1959. The transmission was in black & white. The 9 th Asian games which were held in 1982 in the countrys capital New Delhi heralded the mark of color TV broadcasting in India. In 1991, Indian economy was liberalized from the License Raj and major initiatives like inviting foreign direct investments, deregulation of domestic business emerged. This lead to the in flux of foreign channels like Star TV and creation of domestic satellite channels like Sun TV and Zee TV. This virtually destroyed the monopoly held by doordarshan. In 1992, the cable TV industry started which lead to revolution. Every city in the India had a complex web of co-axial cables running through the streets with a new breed of entrepreneurs called as cable wallahs or Local Cable Operators(LCO) taking in charge of distribution. The film industry was shocked by this sudden growth and there were even organized protests for calling off the Cable TV industry. There were simply too many cable operators in the country and the channels had a difficult time in getting its returns as the existing system was a non-addressable and the operators could simply give a reduced number of subscribers to amass profit. This lead to the emergency of a new breed of firms called as Multi System Operators (MSO) who had heavy financial muscles to make capital investments. . The MSO
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industry became highly monopolistic which warrants government participation to ensure competition. Later on, the United Front Government had issued a ban on use of ku band transmission. After a change of government, the ban got lifted finally in 2001 and TRAI issued the guidelines for operating DTH. Countrys first private DTH license was awarded to Dish TV in 2003 which started operations in 2004. Prasar Bharati also started its product DD-Direct+.DTH Digital TV system receives signals directly from satellite through the dish, decodesit with the Set-Top Box and then sends stunningly clear picture and sound to TV which is the business under taken by some companies by observing the rate of growth and scope for business & opportunity in the Indian market which has 120 million viewers of TV

DTH Industry Overview:

Industry
60 50 40 30 20 10 0 Q1 FY12 Q4 FY12 June'12 Q3 FY13 May'13 Apr'10 Apr'11 Jan'11 Jan'12 Aug'12 Mar'13 July'10 Oct'10 Nov'11 Sep'11 Oct'12 Industry

The Indian Direct-To-Home (DTH) market is expected to see its annual revenue grow over three times to more than $ 5 billion by 2020, as mandatory cable TV digitisation would help the DTH players expand their subscriber base, a study has said. DTH industry revenues will reach $ 3.9 billion by 2017 and $ 5.3 billion by 2020. Revenue growth will be largely driven by increasing subscriber volumes, Hong Kong based research firm Media Partners Asia has said in a new report on the Indian DTH market.The Indian DTH industry is estimated to have clocked a revenue of about $ 1.5 billion in 2012.Media Partners Asia (MPA), an independent provider of information services focusing on media, communications and entertainment industries, further said
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that the active DTH subscriber base is estimated to grow from 32.4 million in 2012 to 63.8 million by 2017 and 76.6 million by 2020.MPA, however, added that the Indian DTH market faces several cost challenges moving forward. With conflicting growth forecasts between content aggregators and DTH operators over the active subscriber base, most of the content renewals from now on will likely be based on a cost per subscriber (CPS) basis, rather than on a fixed rate.This will reduce the benefits from operating leverage that the industry previously enjoyed. Marketing and staff expenses will remain high as the larger phases of DAS (digitisation of cable signals) roll-out gets underway, it added.As per the report, Indias DTH players made a collective effort in 2012 to improve the per-subscriber economics of the industry, with launch of more DTH packages and entry-level pricing. The active subscriber additions in 2012 stood at a mere 3.7 million. This is alarming as the gap between gross and active subscriber bases has widened substantially.As of end-2012, the cumulative DTH active subscriber base stood at 32.4 million subscribers versus 28.7 million subscribers in 2011As per the report, Dish TV continued to lead with a market share of 27 per cent in terms of gross additions, while Videocon d2h led in terms of incremental adds in 2012.Tata Sky and Airtel Digital TV have 19 per cent and 18 per cent market share, respectively. These four players together accounted for 88 per cent of total gross additions in 2012.

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LIST OF DTH PLAYERS 2013

MARKET SHARE CHANGE (2004 2013)

MONOPOLY

2004

DISH TV MARKET SHARE 2004

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Monopoly - Oligopoly 2007

Oligopoly 2010

Market Share 2013 ( oligopoly)

14% 27% dish tv tata sky 19% s direct big tv airtel 7% 13% 19% videocon

Dish Tv 27% Tata Sky 19% S direct 13% Big tv 7% Airtel 19% Videocon 14%
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CONCENTRATION RATIO
Concentration ratio is a measure of the total output produced in an industry by a given number of firms in the industry. The most common concentration ratios are the CR4 and the CR8, which means the market share of the four and the eight largest firms. Concentration ratios are usually used to show the extent of market control of the largest firms in the industry and to illustrate the degree to which an industry is oligopolistic

CALCULATION DTH INDUSTRY 2013

The concentration ratio is the percentage of market share held by the largest firms (m) in an industry. CRm= mi=1 si Therefore it can be expressed as: CRm = s1 + s2 + .... + sm where si is the market share and m defines the ith firm

DTH CR = S1 + S2 + S3 + S4
27 + 19 + 19 + 14 79

Medium concentration
50% to 80%. An industry in this range is likely an oligopoly.

HERFINDHAL INDEX
Herfindahl index (also known as HerfindahlHirschman Index, or HHI) is a measure of the size of firms in relation to the industry and an indicator of the amount of competition among them. Named after economists Orris C. Herfindahl and Albert O. Hirschman, it is an economic concept widely applied in competition law, antitrust and also technology management.It is defined as the sum of the squares of the market Shares of the 50 largest firms (or summed over all the firms if there are fewer than 50)within the industry, where the market shares are expressed as fractions. The result is proportional to the average market share, weighted by market share. As such, it can range from 0 to 1.0, moving from a huge number of very small firms to a single monopolistic producer. Increases in the Herfindahl index generally indicate a
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decrease in competition and an increase of market power, whereas decreases indicate the opposite. Alternatively, if whole percentages are used, the index ranges from 0 to 10,000.

CALCULATION DTH INDUSTRY 2013

where si is the market share of firm i in the market, and N is the number of firms HHI = 27^2 + 19^2 +19^2 + 14^2 + 13^2 + 7^2 +1 HHI = 1866
A HHI index between 0.15 to 0.25 (or 1,500 to 2,500) indicates moderate concentration

EFFECT INCREASE OF PLAYERS

Each player is trying to overtake the other ( price, market share ,quality , tech) Market was monopoly in 2004, transited to oligopoly in 2010 Ultimate benefit to consumers

BARRIERS TO ENTRY AND EXIT

High setup cost
The initial cost of setup for broadcaster is Hugh so this acts as a big entry barrier.

DTH is a low margin and high volume industry:

DTH though is a lucrative business however it is a low margin and high volume industry. For a new entrant to succeed it has to ensure that it builds customer base soon otherwise it will not be possible to make profit.

Cost of a set top boxes:

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The cost of setup box installed in a home is still very high and the cost of a set top box is a significant entry barrier. Higher number of subscriber can bring down the cost incrementally.

Pricing has to be competitive versus cable:

For a new entrant to be successful it is going be very difficult as they entrant will to compete with local cable operators as well as existing DTH service provider. There are already established players in the market and the price war has already started.

Differentiation through content:

There are hundreds of TV channels in India and as per the industry reports there are close to 150+ channels waiting for approval, this take the numbers to 400 different TV channels. So providing the right content to the right consumer will also play a critical role in success of new entrant, differentiation through content is must

Customer Service:
The quality of customer service will be a key differentiator. As Indian consumer are habitual of calling the cable walah whenever there is some issue .A new entrant will face challenges in two fronts; One to ensure that it is providing better customer service than local cable operators and on the other hand it has to provide better customer service than existing DTH service provider.

Multicultural & Multilingual Geography:

India being a multicultural, multilingual society it is very important for the new entrant to ensure that it maintains a fine balance between the regional and nation flavour. Long gestation and break even period: It takes lot of time to for a new entrant to stabilize and grow in this industry. Even achieving the break even period is comparatively high.

Government Regulation and Licensing

Policy and Regulation
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Being a nascent industry, there are lots of teething issues with the current policy framework and the way it is regulated in reality. Some of the notable challenges faced are as below

Lack of Exclusive Content

In the global DTH market, competition is mostly on providing niche content. In India TRAI does not allow broadcaster to offer content exclusively to a specific player. Hence content differentiation as USP is not possible currently in the Indian scenario. TRAI has clearly indicated that exclusivity can be provided only when DTH market matures and there is perfect competition in the market place. But DTH operators are feeling that without content differentiation, the competition can only be on price which may even cannibalize the industry.

The Rule of " Must Carry"

DTH Operator is obliged to carry all the channels provided by every broadcaster on a non- discriminatory basis. However, with the capacity constraints in place, this is not feasible. So in cases, where the operator is willing to broadcast only the popular channels, the broadcasters either deny giving the entire bouquet or charge prices for the complete bouquet.

Interoperability issues.
TRAI mandates an open architecture for STB's to ensure technical interoperability but in reality this is not being implemented.

POWER OF A FIRM OVER PRICE

Players are not perfectly price takers DTH industry is becoming more elastic Profit margins are decreasing

PRICING STRATEGIES
The Industry players are all incurring heavy losses in this fierce race for the subscribers. But they expect the numbers to swell before the revenues come up & comfort them. In present spate of things the subscribers seem to be highly subsidized by the service
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providers. Service providers are first interested in customer acquisition & market creation than profits at this stage. Early players in the industry know it better & have seen how the industry has changed in the span of six years. Initial prices stood around 5000 Rs in 2006 for STB & service activation, from there it came down to 3500 Rs, 2000 Rs, 1000 Rs & went even below this when the number of players increased in 2010. The Festive prices offer in 2009 & in 2010 brought down the prices at Rs 999for this service with Dish TV & Tata Sky both. All the companies had their price offers between Rs 890 to Rs 1200. Dish TV for example in 2010 was giving STB for Rs 990 + Rs 200 for installation extra, but giving recharge vouchers worth Rs 990 absolutely free, thus an offer that puts STB for free. Companies have gone even below this to acquire a customer. Videocon was offering STB at Rs 888. Sun Direct came with the most lucrative offer with STB at Rs 890 &offered the lowest base pack at Rs 99 which was most economical pack across board. When they did so, the companies were virtually subsidizing the subscriber for about 2500 Rs, the basic cost of STB & Antennae doled almost for free, in hope of future earnings & revenues reporting the subscriber numbers by which they comforted themselves to a large extent. With the level playing field introduced between LCO & DTH operators by digital broadcast eventually negating underreporting, the things are expected to improve in favor of DTH operators .Transparency by way of regulation was needed for a long time in this industry & things haves started moving in right direction. The pricing of bouquets also heats up the competition. Sun Direct has been an aggressive player on that. It differentiates by offering the best value for money economical pack, while all others had to struggle hard to come down. Dish TV in this competition brought down its initial bouquet at little above 100 Rs, giving a tough fight to LCOs. Tata Sky on the other hand had a tough time shedding its prestige & premium image. It came out with a special campaign in answer to this bouquet price war of competitors, where it had to set aside Amir Khan as brand endorser &had to make use of two young boys in Laurel & Hardy attire asking the vendor for the lowest price bouquet in a campaign aptly called Poochne Mein Kya Jata Hai? An image shedding which must have been felt as an important way to tackle price advantage all other players were counting on, compared to Tata Skys premium image & fine positioning as the best service provider. What is even more special is that the exercise was precisely an image shedding overture or else the low price offers were always there with Tata Sky. What was felt emphatically was an urge to educate consumers about

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NON PRICING STRATEGIES

VALUE ADDED SERVICES
Matrimonial Services ,job search, travel plan, banking , astrology etc Movie on demand Offering free subscription for 1st few months BIG TV TIE UP WITH UTV for movies Mobile active Gaming Sports active and multilingual services

INSTALLATION & CUSTOMER CARE SERVICES

TATA SKY promises 24 hrs installation SUN TV free dish TATA SKY affordable prices and attractive packages , services TATA SKY 6 HRS SERVICE

ADVERTISING CAMPAIGNS
Aggressive advertising Big brand ambassadors Increase sponsorship in events Lucrative festival offering

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GENERIC STRATEGIES

Cost leadership

In the case of media products, means they should be offered at a price lower than their competitors but with as good benefits, or, the unique benefits the media products offer can over-offset the premium.

Differentiation

Differentiation in DTH refers to when a organization provides unique benefits to the users through product innovation. This is to increase the probability of the media users to choose the product. A media organization with a target user loyalty can concentrate more on how to fully meet the target users needs rather than on product cost saving. AIRTEL DIGITAL CLARITY BIG TV VAS SUN DIRECT COST EFFICIENCY VIDEOCON TECHNOLOGY TATA SKY CUSTOMER SERVICES

Focus

Focus strategy is also known as a 'niche' strategy. The clutter of ads has now spilled out on the number of channel availability due to which people are spoilt for choice. Thus Niche channels are the only way to maintain viewer loyalty. TATA Sky Plus is more niche oriented

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DISH TV
Market share of Dish TV
35% 30% 25% 20% 15% 10% 5% 0% 1 4 7 10 13 16 19 22 25 28 31 34 37 40 43 46 % of Dish TV

History
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DTH service was launched in India back in 2004 with the launch of Dish TV by Essel Group's Zee Entertainment Enterprises. Dish TV was the only DTH service provider in India to carry the two Turner channels: Turner Classic Movies and Boomerang.

Satellite link
Dish TV uses NSS-6 to broadcast its programmes. NSS-6 was launched on 17 December, 2002 by European-based satellite provider, New Skies. Dish TV hopped on to NSS-6 from an INSAT satellite in July 2004. The change in the satellite was made to increase the channel offering as NSS 6 offered more transponder capacity. Dish TV is currently using 4 transponders on Asiasat 5.

Subscriber base
As of 31 October, 2012, Dish TV had about 13 million customers. Dish TV is presently Asia's largest satellite television provider Dish TV launched its high definition service called Dish truHD in the year 2010.

Competitor Analysis
Being Indias First DTH Entertainment Service , by digitalization this enterprise brought best viewing technology .It not only provides high quality programme through satellite but also give a complete control of selecting channels and paying for them. DISH TV has a vast distribution channel of about 1400 distributors and 55000 dealers that spans around 6600 towns across the country. It has 24*7 call centre with 1600 seats to attend calls in 11 different languages.

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TATA SKY
Marker share T sky
23 22 21 20 19 18 17 16 Q1 FY12 Q4 FY12 June'12 Q3 FY13 May'13 Aug'12 Oct'10 Oct'12 Mar'13 July'10 Apr'10 Apr'11 Jan'11 Nov'11 Sep'11 Jan'12 %t sky

History
Is a joint venture between the Tata Sons, that owns 80% and STAR India that owns a 20% stake. Tata Sky was incorporated in 2004 but was launched only in 2006. It currently offers close to 245 channels (as of May 2013); this count includes some numbers of HD channels offered by Tata Sky (as Tata Sky-HD) and interactive services also. In October 2008, Tata Sky announced launching of DVR service Tata Sky+ which allowed 90 hours of recording in a MPEG-4 compatible Set Top Box. Tata Sky is a basic set-top-box offering picture and sound along with interactive services.

Tata Sky HD
Tata Sky HD was launched on June 14, 2010 and has channels in their native resolution of 1080i or 720p.
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The STB is compatible with 7.1 CH surround sound as well. The service currently offers HD channels - MTunes HD, National Geographic Channel HD, Discovery HD World, STAR Movies HD, STAR Plus HD, STAR Cricket HD, STAR World HD, STAR Gold HD, ESPN HD, Zee TV HD, Sony HD, Colors HD.

Tata Sky+ HD
Tata Sky have launched their HD DVR Set Top Box which comes with a 500 GB Hard Disk. However

Video on Demand
On December 25, 2011 Tata Sky launched Video on Demand(Vod) services for their Tata Sky+ HD set-top boxes.

Subscriber Base
Tata Sky had a subscriber base of 11 million customers, as of 31 October 2012.[6]

Competitor Analysis
The group and its enterprises have been steadfast and distinctive in their adherence to business ethics and their commitment to corporate social contribution .This is a legacy that has earned the trust of many millions of stakeholders in measure of few business houses anywhere in the world can match. In addition to dedicated call centre like that of DISH TV,TATA SKY has nominated nodal officers for redressal of grievances of those subscribers who are not satisfied with redressal at call centre level. Such subscribers can contact nodal officers citing the docket number issued by the call centre.

Product Bundling
Tata Sky DTH connection Rs 2099 +standard installation +2months grand sports pack +2 showcase movies
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SUN DIRECT
Market share sun direct
25 20 15 10 5 0 Apr'10 Apr'11 s direct

Oct'12

Q1 FY12

Q4 FY12

June'12

History
Sun Direct is a joint venture between the Maran's Sun Network family and the Astro Group of Malaysia. Sun Direct TV was registered on February 16, 2005. Sun Direct offered subscribers a satellite dish and Set-top box for free and basic monthly plan as low as 75(approximately). Currently basic monthly plan costs 143(approximately). Sun Direct spread rapidly all over the country owing to lowest pricing of any DTH services in India. In April 2010 Sun Direct became the No. 1 DTH service provider of India with 5.8 million subscribers and soon officially launched its HD service in India. Sun Direct is also the first to provide high-definition television services in India

Glitch and satellite change

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Q3 FY13

May'13

Aug'12

Oct'10

Mar'13

July'10

Jan'11

Nov'11

Sep'11

Jan'12

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On July 7, 2010 a power glitch in the INSAT 4B satellite turned down the DTH system partly and SUN Direct announced that the service will be free till whole services are restored

Subscriber base
Sun Direct has over 8 million subscribers as of January 2013. There were over 48 million DTH subscribers in India as of June 2012

BIG TV

Market sharebig tv
12 10 8 6 4 2 0 Apr'10 Apr'11 big tv%

Jan'11

Q1 FY12

Q4 FY12

June'12

About Reliance Digital TV

Reliance digital TV limited is a part of Reliance Communications Ltd., a subsidiary of Reliance Anil Dhirubhai Ambani Group . BIG TV started operations from 19 August 2008 with the slogan "TV ho Toh BIG Ho" ("If you have a TV, make it BIG"). It currently offers close to 250 channels[3] and many interactive ones, 32 cinema halls (i.e. Pay Per View Cinema Channels) as well as many Radio channels.
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Q3 FY13

May'13

Aug'12

Oct'10

Oct'12

Mar'13

July'10

Nov'11

Sep'11

Jan'12

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The company plans to increase the number of channels in the near future to 400 and begin High Definition (HD) broadcast. There are also plans to introduce services like i-Stock, i-News and other such interactive services in the future.[4] Reliance BIG TV's launch in August deployed the MPEG4 technology. The

Subscriber Base
Reliance Digital TV had about 7 million customers as of November 2011.There are about 30 million DTH subscribers in India as of February 2012

AIRTEL
MARKET SHARE AIRTEL
25 20 15 10 5 0 AIRTEL

Oct'12

Mar'13

History
Airtel digital TV is an Indian direct-broadcast satellite service provider owned and operated by Bharti Airtel.
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Q3 FY13

Q1 FY12

Q4 FY12

June'12

May'13

Apr'10

Oct'10

Apr'11

Jan'11

Jan'12

Nov'11

Aug'12

July'10

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Its satellite service, launched in 2008, transmits digital satellite television and audio to households in India. It uses MPEG-4 digital compression with DVB-S2 technology, transmitting using the satellite SES-7 108.2E. As of 9 August 2013, Airtel digital TV has total 324 Channels and Services including 17 HD channels.[3]

Subscriber Base
. It has a total subscriber base of 7.9 million as of 31 January, 2013.

Airtel Digital TV [HD]

Airtel Digital TV HD provides channels in their native resolution of 1080i or 720p with 16:9 aspect ratio Airtel Digital TV HD+ is a recorder that records content on an external USB

drive/ hard disk drive Airtel Digital TV [HD] Recorder

On 4 May 2010, Airtel digital TV from bharti airtel announced the launch of its 3D ready High Definition Personal Video

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VIDEOCON
Market share videocon%
16 14 12 10 8 6 4 2 0 Q1 FY12 Q4 FY12 Q3 FY13 June'12 May'13 Oct'10 Apr'10 Apr'11 Aug'12 Oct'12 Jan'11 Jan'12 Mar'13 July'10 Nov'11 Sep'11 videocon%

History
Videocon d2h is the DTH service provided by the Videocon Group. Videocon Group is an industrial conglomerate with interests all over the world, and is an Indian multinational company. As a pioneering offer in the Indian DTH market, Videocon d2h offered Satellite LCDs & TVs which were DTH enabled with sizes ranging from 19" to 32". This concept in the DTH service was an innovation in the presence of other players like Dish TV, Tata Sky, Airtel Digital TV, Sun Direct and Reliance Digital TV providing only the set top box. Videocon d2h became the first DTH service provider in India to offer a 3D ready Set Top Box in

Competitor Analysis
Videocon D2H launched the first ever HD-DVR with 3d for its customers to watch content with 3D Experience.
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Videocon D2H will bridge the gap as connector to broadcaster and TV customers. Videocon Services today unveiled its new range of satellite LCDs ,a revolutionary breakthrough that enables the LCD to receive signals directly through satellites without any use of set top box giving customers freedom from wires, additional contraptions and multiple remotes. The inbuilt Set top box offers perfect picture quality by ensuring no signal loss.

Product bundling
Dish cost is Rs.1800 but free for 3 month bundled usage a) Free home delivery b) Free instalation c) 1month free home service d) And after one month also the service has been taken limited cost e) Monthly recharge also done here

Cost Leadership
The market leader Dish TV said it will raise prices of its set-top boxes by Rs 250, others including Tata Sky, Airtel digital TV and Videocon d2h are also looking to increase prices. Dish TVs standard definition set-top box, which was priced at Rs 1,999 will now cost Rs 2,249. Its Dish + recorder will cost Rs 2,349. The company has kept the price of its highdefinition set-top boxes unchanged.

First Movers Advantage

Market is highly price conscious and promotion driven .With the onslaught of price cut started by TATA sky with their promotion of all inclusive 999 offer few time back, in which company made available the DTH for just Rs 999 ,all other players are also moving on the same line and they are giving the DTH connections for the same rate or even less.Tata Sky launched HD services at Rs 2,599, forcing market leader Dish TV to cut
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prices by more than 50% within days of launch. Videocon D2H launched the first ever HD-DVR with 3d for its customers to watch content with 3D Experience.

Slowdown-Hit DTH Industry Seeks Govt Intervention

Hit by the global slowdown and slow growth in subscriber base, the countrys direct-tohome (DTH) service providers asked the government to bail them out and take a relook at the four-level tax system imposed on them.With the dollar appreciating against the rupee, the hardware cost has gone up by 10-15 percent. The DTH industry can face massive losses in the years to come on account of low average revenues per user (ARPU) and also the duty that each service provider has to pay while importing hardware. Due to dollar appreciation, the hardware, especially the set-top boxes, which is imported from other countries, has become costlier. Therefore, the DTH players have not benefited much from service duty cuts. However, the current trend has not stopped the companies from launching new offers and services. Players like Dish TV and BIG TV are now offering multi-dwelling units (MDUs), and are exploring options with real estate developers for wiring their projects in the construction stage.

PRICE DISCRIMINATION
Customers are offered lower price during festivals and off seasons i) Tata sky was offering free subscription for a year during Diwali (2012) ii) Airtel was offering free movie pack last year in December (2012)

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APPENDICES
SUBSCRIBER BASE DTH INDUSTRY 2010 2013
(Figure in '000)
Month Apr'10 May'10 June'10 July'10 Aug'10 Sep'10 Oct'10 Nov'10 Dec'10 Jan'11 Feb'11 Mar'11 Apr'11 May'11 June'11 Q1 FY12 July'11 Aug'11 Sep'11 Q2 FY12 Oct'11 Nov'11 Dec'11 Q3 FY12 Jan'12 Feb'12 Mar'12 Q4 FY12 Apr'12 May'12 June'12 Q1 FY13 July'12 Aug'12 Sep'12 Q2 FY13 Oct'12 Nov'12 Dec'12 Q3 FY13 Jan'13 Feb'13 Mar'13 Q4 FY13 Apr'13 May'13 June'13 Dish TV 7123 7313 7542 7791 8057 8309 8662 9172 9444 9760 10098 10444 10.7 10.9 11.2 11.2 11.3 11.5 11.7 11.7 12.2 12.4 12.5 12.5 12.6 12.7 12.9 12.9 13.1 13.2 13.4 13.4 T SKY 4689 4809 4985 5115 5242 5382 5592 5894 6024 6137 6273 6434 6.6 6.7 6.8 6.8 7.0 7.1 7.3 7.3 7.5 7.6 7.8 7.8 7.9 8.0 8.1 8.1 8.3 8.5 8.7 8.7 S DIRECT 4214 4334 4464 4566 4691 4761 4901 5069 5177 5287 5372 5460 5.5 5.6 5.7 5.7 5.7 5.8 5.9 5.9 6.0 6.0 6.1 6.1 6.2 6.2 6.3 6.3 6.3 6.4 6.4 6.4 BIG TV 2180 2250 2324 2389 2449 2529 2659 2780 2847 2917 2992 3045 3.1 3.2 3.2 3.2 3.3 3.3 3.4 3.4 3.5 3.5 3.6 3.6 3.6 3.6 3.7 3.7 3.7 3.7 3.8 3.8 Airtel DTH 2839 3041 3275 3500 3736 3961 4278 4767 5052 5297 5597 5900 6.1 6.4 6.6 6.6 6.8 7.0 7.2 7.2 7.5 7.7 7.9 7.9 8.0 8.1 8.3 8.3 8.4 8.6 8.8 8.8 Videocon 475 515 601 718 870 1071 1338 1723 1959 2179 2439 2713 2.9 3.2 3.4 3.4 3.6 3.8 4.0 4.0 4.4 4.6 4.8 4.8 4.9 5.1 5.2 5.2 5.4 5.6 5.8 5.8 Industry 21521 22263 23192 24080 25046 26013 27430 29405 30503 31577 32771 33996 35.0 35.9 36.9 36.9 37.8 38.6 39.5 39.5 41.1 41.9 42.5 42.5 43.2 43.8 44.5 44.5 45.2 46.1 46.9 46.9 % of Dish TV 33% 33% 33% 32% 32% 32% 32% 31% 31% 31% 31% 31% 31% 30% 30% 30% 30% 30% 30% 30% 30% 29% 29% 29% 29% 29% 29% 29% 29% 29% 29% 29% 28%

13.5 13.7 13.9 13.9 14.1 14.5 14.7 14.7 14.9 15.0 15.1 15.1 15.2 15.3
15.4

8.9 9.0 9.2 9.2 9.4 9.8 10.0 10.0 10.2 10.3 10.5 10.5 10.7 10.9
11.0

6.5 6.5 6.6 6.6 6.6 6.8 6.8 6.8 6.9 7.0 7.1 7.1 7.2 7.3
7.3

3.8 3.8 3.8 3.8 3.9 3.9 4.0 4.0 4.0 4.0 4.0 4.0 4.0 4.1
4.1

8.9 9.1 9.2 9.2 9.4 9.8 9.9 9.9 10.1 10.2 10.4 10.4 10.6 10.7
10.9

6.0 6.1 6.3 6.3 6.5 6.9 7.1 7.1 7.3 7.4 7.6 7.6 7.7 7.9
8.1

47.6 48.3 49.1 49.1 50.0 51.7 52.5 52.5 53.3 54.0 54.7 54.7 55.5 56.2 56.8

28% 28% 28% 28% 28% 28% 28% 28% 28% 28% 28% 27% 27% 27%

26