Latest news with #WAVESBazaar
Hindustan Times
06-05-2025
- Entertainment
- Hindustan Times
India rides the WAVES: Next chapter of the global media story
The World Audio Visual and Entertainment Summit (WAVES) 2025 which has just ended in Mumbai is a global barometer for where media and entertainment (M&E) is headed—and more importantly, who will lead that journey. Secretary information and broadcasting (I&B) Sanjay Jaju shared that the WAVES Bazaar, an initiative designed to connect creators with investors, buyers, and collaborators across borders, has already garnered over ₹250 crore in deals and unveiled major International Alliances. At the panel titled New Voices – Untold Stories and Fresh Perspectives, leaders from InMobi, Snap, Grant Thornton, Artarena Creations, and Abris Inc. gathered to discuss what's next for storytelling in a fractured, fast-moving media ecosystem. The panel brought attention to a vital, if uncomfortable, truth: while M&E has grown in reach and scale, its evolution has remained largely linear. From terrestrial television to cable, from DTH to OTT—each step has broadened access, but the core structure remains intact. Content is still created, uploaded, and passively consumed. The user experience is largely static: Play -> pause -> play. Even OTT—heralded as a disruptor—has hit a plateau, particularly among younger and mobile-first users who now divide their attention between eight-second vertical videos and long-form podcasts. While the demand for longer-format, in-depth conversation remains consistent, the audience for short, snackable content keeps growing. Today's reality is clear: Attention is scarce, competition is relentless, and the traditional model is no longer enough. The next frontier is interactive, intelligent, and inclusive storytelling—content that doesn't just reach users but responds to them. This is not a futuristic vision but an emerging global trend being rapidly shaped by changing consumption habits. What we saw with Netflix's Bandersnatch was not an experiment; rather, it was an indication of things to come. We had the first taste of interactive storytelling, where the users could choose the outcomes at 31 different points, leading to five different endings but innumerable permutations. While this could be time-consuming, Artificial Intelligence (AI), especially Gen-AI could easily solve for this. Fast-forward ten years, and we could be looking at AI producing entertainment on-the-go according to the wishes of the viewers. With over 82% of media consumption happening on mobile devices, India is among the most mobile-first content markets in the world. This shift has profound implications not only for how content is consumed, but how it must now be designed. Platforms like Glance, which delivers personalised, real-time content directly on users' lock screens, are already pioneering this shift. With an average daily engagement time of 25 minutes, and over 550 million glances a day, the platform is redefining discoverability and content value. Importantly, regional-language content performs at nearly two times the engagement levels of English, underscoring a powerful truth: Scale in India comes with cultural and linguistic nuance. Snackable content—short, punchy, and context-rich—is not merely a concession to attention deficit. It's a strategic format that respects the user's time while maximising emotional and informational impact. From 15-second video vignettes to interactive live quizzes and polls embedded in the lock screen, the possibilities for real-time, user-shaped storytelling are growing fast. India's rapid ascent as a content powerhouse is not accidental—it has been actively enabled by forward-looking government policy. The Animation, Visual Effects, Gaming, Comics (AVGC) Incentive Policy offers up to 30% rebates on post-production spend, encouraging local and global productions to invest in Indian talent and infrastructure. States such as Jammu and Kashmir, Karnataka, Maharashtra, and Tamil Nadu have rolled out complementary policies offering space subsidies, tax waivers, and incubator support to AVGC startups. The single-window clearance systems for filming permits, now operational in multiple states, have reduced project timelines by nearly 40%. Meanwhile, audio-visual co-production treaties, including those with the US, have enabled smoother collaboration between Indian and foreign production houses—boosting both commercial and creative output. What's more, Production-Linked Incentive (PLI) schemes under discussion in the Union budget signal a growing recognition of M&E as a critical sunrise sector—at the intersection of digital economy, job creation, and soft power projection. At the WAVES Summit, the increasing synergy between Bollywood and Hollywood was evident—not just as a cultural moment, but as a business model. Hollywood studios are co-financing Indian productions, while Indian creative talent—across VFX, sound, editing, and scripting—is being embedded in global story pipelines. The year 2008 was pivotal for Indian film industry which saw international studios like Walt Disney, Warner Brothers, Sony Pictures and Fox invest in the Indian film market. Walt Disney collaborated with Yash Raj Studios in 2008 to produce Roadside Romeo to enter the Indian market, Warner Brothers through Saas, Bahu aur Sensex and Sony through Saawariya. India is not just a passive outsourcing hub anymore. It is becoming an active IP generator, a test market, and a talent epicenter. With over 950 million internet users, a booming creator economy, and some of the world's most engaged digital audiences, the country provides both the laboratory and the launchpad for global M&E innovation. From a market standpoint, the numbers are compelling. India's M&E sector was valued at ₹2.5 trillion ($29 billion) in 2024 and is projected to grow to $73 billion by 2027, registering a CAGR of 9.7%. Digital media, now the largest segment, is expected to dominate further, driven by increasing data affordability (less than ₹7/GB), smartphone penetration, and youth-led consumption habits. For investors, this translates into opportunities across the value chain—from regional content production and artificial intelligence (AI) powered content personalisation, to live-stream infrastructure, interactive gaming, and vernacular creator platforms. India's moment in M&E is not a promise—it is an unfolding reality. The ecosystem is vibrant, the policy is enabling, the audience is demanding, and the platforms are already innovating. At WAVES 2025, the message was clear: The future of storytelling is no longer linear—it is participatory, real-time, and born in ecosystems like India's. With innovative platforms and strong public-private collaboration, India is not just witnessing the next media revolution—it is writing it. That said, the pace at which the technology is evolving doesn't guarantee any particular format or technique to withstand the test of time. We can only focus on the near future: What works today and tomorrow. However, we will do it with great aplomb and create tangible impact, the Indian way. India's storytelling doesn't chase length—it creates impact. As Rajesh Khanna beautifully put it in Anand, 'Zindagi badi honi chahiye, lambi nahi' (Life should be lived large, not just long. This article is authored by Subi Chaturvedi, global SVP, chief corporate affairs and public policy officer, InMobi and co-chair, Jt Indo-US AI Taskforce, USIBC and FICCI chair, Women in Technology, Policy & Leadership.
Hindustan Times
05-05-2025
- Business
- Hindustan Times
WAVES Bazaar records ₹1,328 crore in deals, emerges as major hub for global creative collabs
MUMBAI: Positioning itself as a leading platform for international business in the creative industries, the WAVES Bazaar — the business conclave of the World Audio-Visual Entertainment Summit (WAVES) — concluded at Jio World Convention Centre, Bandra Kurla Complex (BKC), on Sunday. The four-day event witnessed commercial transactions worth more than ₹1,328 crore across sectors including film, music, radio, VFX, animation, gaming, and web series. Of this total, an estimated ₹971 crore was generated through over 3,000 business-to-business (B2B) meetings, according to a senior official from the Ministry of Information and Broadcasting (I&B). 'The Buyer-Seller Market proved to be a game-changer,' the official added, highlighting the volume and quality of professional engagements. International collaborations were a cornerstone of this year's summit. Among the major announcements was a proposal between the Film India Screen Collective and Screen Canterbury NZ to launch the first-ever Indian Film Festival in New Zealand, marking a significant cultural exchange. Further boosting Indo-global creative ties, Only Much Louder CEO Tushar Kumar and Gazprom Media CEO Alexander Zharov revealed preliminary talks on a memorandum of understanding (MoU) to co-produce comedy and music shows and organise cross-cultural festivals in Russia and India. Another highlight was the announcement of a multi-year strategic collaboration between Prime Video and CJ ENM to distribute premium Korean content globally, signalling the growing influence of K-culture on the Indian market. The Bazaar also hosted landmark co-production announcements, including Devi Chowdhurani, India's first official Indo-UK co-production, and Violated, a project by UK-based Fusion Flicks and JVD Films. Sanjay Jaju, Secretary, I&B Ministry, expressed satisfaction at the overwhelming response the summit received from stakeholders across the ecosystem — including industry leaders, startups, policymakers, academia, and the public. 'WAVES has become a celebration of business, culture, and creative enterprise — a true people's movement,' he said. On the sidelines of the event, chief minister Devendra Fadnavis held key meetings with media and entertainment executives. He met Netflix Co-CEO Ted Sarandos, Universal Music Group's Devraj Sanyal, and Motion Picture Association CEO Charles Rivkin to explore future collaborations in content creation, upskilling, and storytelling rooted in rural Maharashtra. 'Had a fruitful meeting with Netflix's Ted Sarandos. We discussed India's potential as a key growth market and explored partnerships with the state for skilling initiatives in the media and entertainment space,' Fadnavis later posted on X. The CM also lauded Prime Minister Narendra Modi's vision and praised both the Central and Maharashtra governments for the successful organisation of WAVES, which he attended specifically to show his support.
Time of India
04-05-2025
- Business
- Time of India
WAVES Bazaar concludes with business deals worth Rs 1,328 crore
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The WAVES Bazaar , part of the broader World Audio Visual and Entertainment Summit (WAVES 2025), concluded recently in Mumbai, reporting business transactions of over Rs 1,328 crore and hosting more than 3,000 B2B meetings over three Government of Maharashtra signed Memorandums of Understanding (MoUs) amounting to Rs 8,000 crore, aimed at supporting and expanding the media and entertainment (M&E) first edition of WAVES 2025 drew participation from various stakeholders including industry professionals, startups, government bodies, academia, and members of the public. The event featured exhibitions, panel discussions, and business meetings, positioning itself as a platform for dialogue and collaboration within the WAVES Bazaar saw active involvement across the film, music, radio, VFX , and animation sectors. Of the total reported transactions, approximately Rs 971 crore resulted from B2B meetings. A key feature of the marketplace was the Buyer-Seller Meet, where over 3,000 business interactions were the notable developments was a collaborative proposal between Film India Screen Collective and Screen Canterbury NZ to launch the first Indian Film Festival in New potential international partnership was hinted at by Only Much Louder CEO Tushar Kumar and Gazprom Media CEO Alexander Zharov, who discussed early-stage plans for cross-cultural events and co-productions between Russia and Video and CJ ENM also announced a multi-year collaboration focused on distributing Korean content to global announcements included the Indo-UK co-production 'Devi Chowdhurani' and the film 'Violated,' a joint project between UK-based Fusion Flicks and India's JVD Maharashtra government contributed significantly to the summit's economic agenda. MoUs worth Rs 1,500 crore each were signed with the University of York and the University of Western Australia. Additional agreements included Rs 3,000 crore with Prime Focus and Rs 2,000 crore with Godrej through the state's Industries the startup space, WAVEX selected 30 M&E startups to present their ideas to a panel of 45 investors, including representatives from Lumikai, Jio, CABIL, and WarmUp Ventures. With over 1,000 registrations, investment discussions worth approximately Rs 50 crore are said to be in Start-Up Pavilion saw participation from over 100 ventures showcasing innovative ideas and aims to build a supportive ecosystem through a dedicated angel investor network, incubators, and mentorship programs. It also plans to support early-stage ideas, particularly from Tier 1 and Tier 2 cities, that may not yet have a tangible product but show strong potential.
Hans India
04-05-2025
- Business
- Hans India
Inaugural ‘WAVES Bazaar' to see deals worth Rs 1,000 crore: Govt
Mumbai: The inaugural edition of 'WAVES Bazaar' was likely to see business transactions worth over Rs 1,000 crore, as deal-making was still underway, according to the government. Organised under the umbrella of the World Audio Visual and Entertainment Summit (WAVES) here, the marketplace recorded business transactions exceeding Rs 800 crore across the Film, Music, Radio, VFX, and Animation sectors, said the Ministry of Information and Broadcasting in a statement. The event concluded with resounding success, establishing itself as a premier platform for international business collaboration in the creative industries. A key highlight of the Bazaar was the Buyer-Seller Market which witnessed over 3,000 B2B meetings, generating revenue upwards of Rs 500 crore, with additional deals expected to close in the coming days. Curated screenings of films at the 80-seat venue drew enthusiastic responses and appreciation for the selected films. The Bazaar also helped emerging creators pitch their IPs to a global network of buyers and collaborators, generating significant interest and fostering new partnerships. In a major achievement in international collaborations between India and New Zealand, Film India Screen Collective and Screen Canterbury NZ, led by Petrina D'Rozario, announced a collaborative proposal, inspired by WAVES, to launch the first-ever Indian Film Festival in New Zealand. Paving the wave for an India-Russia collaboration, Only Much Louder (OML) CEO Tushar Kumar and Gazprom Media CEO Alexander Zharov have begun early talks on a potential Memorandum of Understanding to collaborate on cross-cultural festivals and co-produce comedy and music shows in Russia and India. The announcement of the Prime Video and CJ ENM Multi-Year Collaboration was a key highlight of the Bazaar as the strategic partnership was unveiled to distribute premium Korean content globally. With its launch expected in June 2025 with 'Head Over Heels', the deal includes streaming in over 240 countries, featuring 28 subtitle languages and 11 dubbed versions. With its impactful debut, 'WAVES Bazaar' has not only positioned itself as a global hub for creative collaboration but also set the stage for a new era of cross-border storytelling and industry transformation, said the government.
Time of India
04-05-2025
- Business
- Time of India
WAVES Bazaar sees deals worth over Rs 800 crore, total valuation to exceed Rs 1,000 crore
WAVES Bazaar 2025 The inaugural edition of WAVES Bazaar concluded on Saturday, with the marketplace recording business transactions exceeding Rs 800 crore over its three-day period. According to an official statement , the total valuation is projected to surpass ₹1000 crore in a few days as deal-making was still underway. The deals struck during the event were across the film, music, radio, VFX and animation sectors. Key highlights A key highlight of the bazaar was the buyer-seller market, which alone generated revenue upwards of ₹500 crore, with additional deals expected to close in the coming days. The buyer-seller market witnessed more than 3,000 business-to-business (B2B) meetings at WAVES Bazaar, which was organized under the umbrella of the World Audio Visual & Entertainment Summit (WAVES). The bazaar also helped emerging creators pitch their intellectual properties (IPs) to a global network of buyers and collaborators, generating significant interest and fostering new partnerships. Also, in a major achievement in international collaborations between India and New Zealand, the Film India Screen Collective and Screen Canterbury NZ announced a collaborative proposal to launch the first-ever Indian film festival in New Zealand. Similarly, paving the way for an India-Russia collaboration, Only Much Louder (OML) CEO Tushar Kumar and Gazprom Media CEO Alexander Zharov have begun early talks on a potential Memorandum of Understanding to collaborate on cross-cultural festivals and co-produce comedy and music shows in each country. Major deal announcements Prime Video announced a multi-year collaboration with South Korea's CJ ENM to distribute premium South Korean content globally. The deal includes streaming in over 240 countries, featuring 28 subtitle languages and 11 dubbed versions. Another major announcement was of the film "Devi Chowdhurani," India's first official co-production with the United Kingdom. A pre-teaser of the film, which is backed by the Ministry of Information & Broadcasting, among others, was unveiled at WAVES Bazaar. (With PTI inputs) Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
