The world of creators and their economy is going through a fundamental change. Union Minister of Information & Broadcasting, Ashwini Vaishnaw said this while interacting with the news media today ahead of the maiden World Audio Visual & Entertainment Summit scheduled in Mumbai from 1st to 4th May.
The interaction was attended by about 20 media houses from the national as well as regional news media. Talking on the challenges faced, the Union Minister said that with the advent of technology, the old model is giving way to the new model, creating opportunities as well as challenges.
The shape of the media world is changing, he said and stressed on the collective need as a country to respond to the new model. Giving an example, he said that gone are the days when a big studio was needed for creating content.
Today a creator from a remote village from Jharkhand or Kerala can create good quality and get millions of views. He mentioned that the creator's economy is growing exponentially. The Minister said that our visionary Prime Minister acknowledged the work of the creators and their contribution in the economy by promoting India’s soft power globally.
WAVES seeks to evolve itself as a global platform for media & entertainment, just as Davos serves as a global platform for economic policies, he added. India’s creative economy has received an overwhelming boost, with more than 1 lakh registrations for WAVES 2025.
The top innovators will be honoured with Awards, celebrating their contributions to the evolving global media and entertainment landscape. Shri Vaishnaw said, we are finding a way to connect the world with our creators.
WAVES is emerging as a global connector between creators, buyers, and markets for scalable creative solutions, the Minister said. Through WAVES, buyers and sellers are getting a platform, where creators can offer their content & firms can source quality creative work.
Participating in the interaction, heads of various media organisations congratulated the Government for conceptualising a novel concept in the form of WAVES to bring policy makers, creators, industry stalwarts, tech giants and start ups in the M&E sector on one platform.
Secretary, Ministry of Information & Broadcasting, Shri Sanjay Jaju welcomed all the participants and dignitaries, highlighting the significance of collective dialogue in shaping the future of the media landscape.
He emphasized the Ministry’s commitment to engaging with stakeholders across platforms and appreciated the active participation of media organizations in the lead-up to WAVES 2025.