Sony Pictures sharpens India focus amid M&E shake-up

Sony Pictures Entertainment (SPE), the entertainment arm of Tokyo-based Sony Group Corporation, is intensifying its focus on the Indian market as the country’s media and entertainment (M&E) sector undergoes rapid transformation, a top company official said.

SPE CEO Ravi Ahuja, who assumed office in January, noted that the boom in India’s M&E industry is being driven by strong economic and population growth. He also acknowledged that the company’s Indian operations are being reshaped following the failed merger with Zee Entertainment over a year ago.

“We believe the Indian market holds tremendous potential. We have a new MD and CEO, Gaurav Banerjee. His team is now focused on strengthening content production, building out distribution-related partnerships, and rebuilding and reorienting their growth strategy following the merger we previously attempted,” Ahuja said during the company’s annual presentation.


India’s media and entertainment (M&E) sector grew modestly by 3.3% in 2024, reaching ₹2.5 lakh crore, according to a report by EY in collaboration with FICCI.

Banerjee, previously with Star India, which is now jointly owned by Reliance Industries and Walt Disney, now leads Sony Pictures Networks India (SPNI), legally known as Culver Max Entertainment. SPNI owns and operates 27 linear television channels and the streaming platform SonyLIV. In FY24, the company reported a net profit of ₹839 crore on revenue of ₹6,510 crore.

A significant part of the growth strategy includes a renewed focus on digital platforms. "This includes increased investment in digital platforms, particularly in Sony LIV, our streaming service,” Ahuja added.

SPNI recently sublicensed the digital rights to India’s 2025–26 cricket tours of England to rival JioHotstar while retaining the television rights. SPNI is believed to have paid between $200–250 million for the England and Wales Cricket Board (ECB) media rights, with the India tours comprising the lion’s share of the value.

Sony Entertainment Television (SET), facing challenges in its fiction segment, is revamping its lineup. This includes relaunching the popular drama Bade Achhe Lagte Hain in a new format and introducing the thriller Aami Dakini later this month. Other recent launches include Chakravarti Samrat Prithviraj Chauhan (June 4) and Shirdi Wale Sai Baba (April).

This adds to a content slate featuring Kaun Banega Crorepati, Indian Idol, CID, Crime Patrol, and Shark Tank India. SET India, Ahuja noted, remains the fourth most-viewed YouTube channel globally with 184 million subscribers.

“Early signs are promising — ratings for Sony’s channels have seen a notable uptick since the leadership change, reflecting growing viewer engagement,” he said.

“We also recently secured exclusive media rights for the Asian Cricket Council tournaments, starting in 2024 and running through 2031—a move we believe will significantly boost viewership and further enhance SonyLIV,” Ahuja said. SPNI paid $170 for the exclusive media rights.

However, the upcoming Asia Cup in September is uncertain due to escalating tensions between India and Pakistan following the Pahalgam terror attack and the resulting war-like situation.

SPE posted sales of $9.9 billion and operating income of $774 million, despite headwinds from lower series deliveries due to the Hollywood strike and reduced revenue from the India media networks business under SPNI.

Rob Stringer, chairman of Sony Music Group, said the company is expanding its presence in high-growth markets including India, Latin America, Eastern Europe, Africa, and the Middle East. “In India and Latin America, we are still number one in recorded music,” he added.