If it's just IPL effect than their marketing team needs to be blamed. Most of the subscription of their subscribers renews around April because of the IPL. They should've aggressively marketed specially when you already got the TV rights. Use the TV ad slot. Could've offered them a discount highlighting that they still got ICC World Cup, Cricket Australia, Premiere League, FIH etc. on Hotstar. I think World Cup and Australian Cricket would be enough to retain some casual sports viewers. It really looks odd here that they have just given up.