Tata Play's revenue from its core direct-to-home (DTH) business is expected to decline in the medium term due to a slowdown in its subscriber base. However, this decrease is anticipated to be balanced by growth in broadband and over-the-top (OTT) businesses. Operating margins may face pressure in FY24 and FY25 due to the subscriber base moderation, although partly offset by improved metrics from Tata Play Binge and expected breakeven from Tata Play Broadband.
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