Business Update26 Mar 2026, 10:21 am
Hindustan Media Ventures to Discontinue New OTTplay Subscriptions from March 31, 2026
AI Summary
Hindustan Media Ventures Ltd. has announced that it will discontinue new OTTplay subscriptions from March 31, 2026. The decision was made during a Board meeting on March 26, 2026. The existing OTTplay platform subscribers will continue to be supported. The OTTplay business contributes approximately 8% to the total revenue and 2% to the net worth of the company. The reason for the closure is that the expected timeline for achieving sustainable long-term profitability does not meet the required criteria.
Key Highlights
- Hindustan Media Ventures to discontinue new OTTplay subscriptions from March 31, 2026
- Existing OTTplay subscribers will continue to be supported
- OTTplay contributes approximately 8% to the total revenue of the company
- Networth of OTTplay is negative, constituting 2% of the networth of the company
- The decision was made due to the delayed timeline for achieving sustainable long-term profitability