India, March 9 -- For more than a decade, Direct-to-Home television reshaped the Indian broadcasting landscape, expanding satellite television access to millions of households across the country. By transmitting signals directly from satellites to home set-top boxes, DTH operators helped bring hundreds of channels to urban and rural viewers alike.

Today, however, the industry that once appeared unassailable is confronting a major transition as internet-based entertainment platforms rapidly transform how audiences watch television.

According to the latest quarterly performance indicators released by the Telecom Regulatory Authority of India (TRAI), India's paying DTH subscriber base declined to 50.99 million in the quarter ending Decembe...