Sony Pictures Networks India to cut 10% workforce as BCG-led audit triggers cost reset

Culver Max Entertainment, formerly Sony Pictures Networks India (SPNI), is set to reduce its workforce by about 10% as part of a broader cost rationalisation and restructuring exercise, according to people familiar with the matter. The move is expected to impact around 120 employees across India and will likely be implemented from the next financial year.

The restructuring follows the broadcaster’s decision to appoint global consultancy Boston Consulting Group (BCG) to conduct a comprehensive internal audit of its television and digital operations. Storyboard18 was the first to report on the engagement. The mandate has been initiated under the stewardship of SPNI’s new chief executive officer and managing director, Gaurav Banerjee, with a focus on streamlining costs, improving operational efficiency and recalibrating content investments amid slowing revenue growth.

Sources close to the development said the BCG-led exercise is designed to identify redundancies, rationalise content-related expenditure and flag inefficiencies across programming, marketing, rights acquisitions and support functions. The audit spans both linear television and SonyLIV, SPNI’s flagship over-the-top (OTT) platform, and aims to align content spending more closely with revenue realities.

“The idea is to address structural overlaps and plug inefficiencies without disrupting the core business,” said a senior industry executive aware of the discussions. “The focus is on sustainability rather than aggressive expansion.”

The timing of the restructuring comes amid a period of leadership churn at the broadcaster. Recently, Danish Khan, business head of SonyLIV and Studio NXT, announced his decision to move on from SPNI to pursue new opportunities. Khan will continue with the network until March 31 to ensure business continuity. He has spent over two decades with SPNI across two stints, including the last 10 years, during which he led Sony Entertainment Television (SET), Studio NXT and, since 2019, SonyLIV.

SPNI operates 28 television channels across genres and languages, in addition to SonyLIV. In FY24, the company reported revenue of ₹6,511 crore and a net profit of ₹840 crore. Subscription income accounted for ₹3,206 crore, while advertising revenue stood at ₹2,825 crore.

However, industry executives said content costs have been rising faster than topline growth, particularly with intensified competition in sports, general entertainment and digital originals. The audit is expected to result in sharper prioritisation of content bets, tighter cost controls and a leaner organisational structure.

While the company has not officially commented on the workforce reduction, people in the know said the cost optimisation measures are part of a wider effort to future-proof the business as traditional television growth moderates and digital monetisation remains under pressure.

The restructuring is expected to be rolled out in phases from the next fiscal year, once the BCG review is completed and recommendations are finalised.