MUMBAI: Sony Pictures Entertainment (SPE) is doubling down on India, rebooting its strategy under new leadership and betting big on digital, cricket and content to reclaim lost ground in the subcontinent’s fast-evolving media landscape.

Speaking at SPE’s annual presentation, chief executive Ravi Ahuja described India as a “tremendous opportunity” amid the country’s strong economic and population growth. The rejig came more than a year after the collapse of Sony’s much-hyped merger with Zee Entertainment.

At the heart of the reshuffle is Gaurav Banerjee, former Star India top content boss, now managing director and chief executive of Sony Pictures Networks India (SPNI)— Culver Max Entertainment.

Banerjee’s mandate: fix the fiction, fire up streaming, and sharpen Sony’s distribution game.

SPNI, which runs 27 TV channels and the SonyLiv platform, reported Rs 839 crore in profit on Rs 6,510 crore revenue in FY24. The company is now funnelling fresh investments into digital, particularly SonyLiv, as part of a broader growth revival.

“We are rebuilding and reorienting our growth strategy, including investment in digital and our Sony LIV streaming platform,” said Ahuja. “We recently secured exclusive media rights for all Asian Cricket Council (ACC) tournaments from 2024 to 2031, which we anticipate will boost viewership and enhance Sony LIV."

The sticker price:  $170 million. It also shelled out $200–250 million for the England and Wales Cricket Board rights, sub-licensing the digital India tour rights to JioHotstar but retaining TV control. But there’s a wrinkle: the upcoming Asia Cup in September may be under threat due to rising India–Pakistan tensions post the Pahalgam terror strike.

Meanwhile, Sony Entertainment Television (SET) is in revamp mode. The channel, battling ratings pressure in fiction, is reloading its primetime slate with a rebooted Bade Achhe Lagte Hain, mythologicals like Prithviraj Chauhan and Shirdi Wale Sai Baba, and the upcoming thriller Aami Dakini. Tentpoles like Kaun Banega Crorepati, Shark Tank India and Indian Idol continue to anchor the lineup. SET also remains a YouTube juggernaut, with 184 million subscribers—ranking fourth globally.

Globally, SPE posted sales of $9.9 billion and operating income of $774 million despite the Hollywood strike denting series output and SPNI dragging on profits.

Sony may have dropped its  Zee alliance, but with a rejigged team, fresh IP, and digital firepower, its India innings appears to be just getting into super scoring mode. With both Ahuja and Banerjee  fresh at the crease and gradually getting their shots right, SET might well hit it out of the park this time.