Latest news with #WorldAudio-VisualEntertainmentSummit
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.
New Indian Express
05-05-2025
- Business
- New Indian Express
AI to make India global creative powerhouse: Govt
MUMBAI: With effective use of Artificial Intelligence (AI), India is poised to emerge as a Global Creative Powerhouse and hub, according to a media report presented by Union Minister of State L Murugan at the World Audio-Visual Entertainment Summit (WAVES). Media and entertainment companies can not only increase their revenue by at least 10% but also reduce the input cost by 15% with the use of AI, says the report named 'A Studio Called India' prepared by Ernst & Young. Officials said AI is expected to add value to the growth story of the media and entertainment sector. 'The global media and entertainment (M&E) industry is undergoing a dramatic transformation, driven by the proliferation of AI. From content creation and curation to monetisation and distribution, AI is becoming an integral part of how stories are told and consumed,' reads the report. India, already a powerhouse in content production and IT services, is uniquely poised to lead this transformation. The convergence of its deep talent pool, rapidly maturing AI ecosystem, and proven capabilities in media production positions India as a strategic node in the global AI-M&E value chain. The report also noted that OTT platforms have started using AI to offer hyper-targeted content recommendations based on regional preferences, affluence, geo-targeting and consumption patterns.
The Print
04-05-2025
- Business
- The Print
Mumbai: Mumbai: WAVEX highlights investment potential of media-entertainment startups
Ashutosh Mohle, Joint Director at the Ministry of Information and Broadcasting (MIB), set the tone with a succinct overview of WAVEX, underscoring its vision of nurturing startups in the media and entertainment space and providing a national platform to scale up their ideas. Mumbai (Maharashtra) [India], May 4 (ANI): WAVEX 2025, the flagship startup initiative under the World Audio-Visual Entertainment Summit (WAVES) being held in Mumbai, is a promising intersection of innovation, entrepreneurship, and investment. Sandeep Jhingran, Chief Growth Officer, Internet and Mobile Association of India (IMAI), expressed satisfaction with the initiative's promising response. 'We received over a thousand applications. Thirty of them pitched directly to investors and over half of them are already in active conversations,' he revealed, emphasising that such efforts are essential to give focused attention to media and entertainment startups. Investor voices added further perspective to the transformative potential of the initiative. Rajesh Joshi, Venue Partner from Warmup Ventures, reflected on his personal journey from being a startup founder to becoming an investor. 'Life has come a full circle…We're now speaking with 11 startups,' he added. Mustafa Harnesswala, founder of CABIL, highlighted the traditional reluctance to fund this space. 'Many shy away from investing in media and entertainment. WAVES is shifting that mindset. We're now working on creating a dedicated angel network for M&E, and even exploring global linkages through collaborations with international governments.' The panel also fielded questions from the media, offering insight into the evolving startup landscape. When asked how investors differentiate meaningful content, Rajesh cited the example of 'Giggle,' a startup app creating a platform that helps avoid cyberbullying and sexual content, calling it a benchmark for responsible innovation. On gender representation, Sandeep acknowledged the limited participation of women entrepreneurs. 'We're committed to doing better. In the future editions, we hope to see more women entrepreneurs coming in,' he added. Expanding on the event's format, Sandeep Jhingran shared that 30 startups were given one-on-one pitching opportunities in two days; Mustafa Harnesswala emphasised the need for monetisation strategies for content creators, stating that initiatives like WAVES help bridge that gap. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Hans India
04-05-2025
- Business
- Hans India
WAVEX 2025 aims to build dedicated angel network for media and entertainment startups
WAVEX 2025, part of the World Audio-Visual Entertainment Summit (WAVES) here, has emerged as a significant platform for startups in the media and entertainment (M&E) industry, with a special focus on creating a dedicated angel network to support innovation in this space, experts said on Sunday. Participating at a panel discussion at the event here, Ministry of Information and Broadcasting's Joint Director Ashutosh Mohle highlighted the vision of WAVEX to provide a national stage for startups, allowing them to scale their ideas and gain visibility within the M&E sector. He expressed hope that initiatives like WAVEX would foster innovation and entrepreneurship in a rapidly evolving industry. Internet and Mobile Association of India's (IMAI) Chief Growth Officer Sandeep Jhingran shared the encouraging response to WAVEX 2025, noting that over a thousand applications were received from aspiring entrepreneurs. "Thirty startups were selected to pitch directly to investors, with many already in active discussions," he stated. Jhingran emphasised the need for such platforms to focus on nurturing startups in the M&E sector, where unique challenges often hinder growth. Investor voices were also critical in shaping the conversation. Warmup Ventures Venue Partner Rajesh Joshi reflected on his journey from being a startup founder to an investor. He revealed that they are currently in talks with 11 startups, highlighting the significant interest in M&E startups despite past reluctance to invest in this field. He expressed his belief that WAVEX is helping change this mindset. CABIL Founder Mustafa Harnesswala echoed these sentiments, noting that many investors have traditionally shied away from the M&E space. However, WAVEX is now changing that dynamic. Harnesswala shared that they are working on building a dedicated angel network for M&E startups, further bolstered by international collaborations aimed at expanding investment opportunities. The panel also discussed some of the challenges facing the industry. When asked how investors differentiate meaningful content, Joshi pointed to "Giggle", a startup focused on preventing cyberbullying and harmful content on social platforms, as a prime example of responsible innovation. On the topic of gender representation, Jhingran acknowledged that the participation of women entrepreneurs in the M&E sector has been limited. He expressed a commitment to improving this in future editions, with a goal of attracting more women-led startups to the platform. The event format, which offered one-on-one pitching opportunities for 30 startups, was praised by industry leaders for providing startups with the chance to interact directly with investors.
