What Does 'WAVES 2025' Promise for the Future of the Creative Economy?

Mumbai, May 4 (NationPress) The inaugural edition of the World Audio Visual and Entertainment Summit (WAVES 2025) concluded successfully in Mumbai on Sunday, garnering an impressive response from a diverse audience including exhibitors, industry leaders, startups, policymakers, academia, and the general public.

The initiative called ‘WAVES Bazaar’ facilitated business transactions exceeding Rs 1,328 crore, with over 3,000 business-to-business (B2B) meetings held in just three days, as reported by the Ministry of Information and Broadcasting.

Additionally, the Maharashtra government contributed significantly to the summit’s success by signing memorandums of understanding (MoUs) valued at Rs 8,000 crore during the event.

MoUs worth Rs 1,500 crore were established with both the University of York and the University of Western Australia, while the state’s Industries Department secured MoUs worth Rs 3,000 crore and Rs 2,000 crore with Prime Focus and Godrej, respectively, according to the ministry’s report.

External Affairs Minister S Jaishankar emphasized the importance of harmonizing technology with tradition, advocating for youth empowerment through skill development and innovative practices.

Ashwini Vaishnaw, the Union Minister for Information and Broadcasting, underscored the revolutionary impact of technology on content creation, highlighting the necessity to nurture local content, co-production agreements, and collaborative funding initiatives.

Inaugurated by Prime Minister Narendra Modi, the four-day summit served as a crucial convergence hub for the media and entertainment ecosystem, attracting participation from all industry segments — from renowned artists and influential content creators to technological innovators and corporate executives.

The event’s vibrant mix of exhibitions, panel discussions, and B2B collaborations witnessed a remarkable turnout, reinforcing India’s status as an emerging global powerhouse in media and entertainment, as stated by the ministry.

The ‘Conference Track’ of ‘WAVES 2025’ acted as an essential platform for dialogue and collaboration, uniting thought leaders, industry pioneers, policymakers, and professionals from around the world.

Through a meticulously organized series of plenary sessions, breakout discussions, and master classes, the summit delved into the latest innovations and strategies shaping the future of the media and entertainment sector.

With over 140 sessions and more than 100 international speakers, spread across three primary halls (each hosting over 1,000 participants) and five additional halls with capacities ranging from 75 to 150, the summit maintained exceptionally high attendance levels — with many sessions reaching full capacity.

The plenary sessions featured over 50 keynote addresses from prominent figures such as Ted Sarandos, Kiran Mazumdar-Shaw, Neal Mohan, Shantanu Narayen, Mark Read, and Adam Mosseri.

Their insights provided compelling perspectives on the evolving entertainment industry, advertising landscape, and digital transformation.

Film legends including Chiranjeevi, Mohanlal, Hema Malini, Akshay Kumar, Nagarjuna, Shah Rukh Khan, Deepika Padukone, Allu Arjun, and Shekhar Kapur, many of whom were advisory board members, engaged in insightful discussions regarding the future of cinema and content creation in the era of virtual production and artificial intelligence.

The 40 masterclasses at WAVES 2025 were crafted to provide practical learning and creative exploration. Participants experienced direct exposure to industry techniques through sessions like The Art of Acting by Aamir Khan, Craft of Direction by Farhan Akhtar, and Insights into Filmmaking by Michael Lehmann, as indicated by the ministry.

Additional sessions examined behind-the-scenes stories such as the making of Panchayat by Amazon Prime, designing AR lenses, creating AI avatars, and developing games using generative AI. These sessions equipped professionals and aspiring creators with actionable insights and tools to excel in a fast-evolving creative economy.

WAVES also hosted 55 breakout sessions, offering a platform for comprehensive discussions on specialized themes including broadcasting, digital media, OTT, AI, music, news, live events, animation, gaming, virtual production, comics, and filmmaking.

The ‘Global Media Dialogue 2025’ was a landmark occasion that included participation from 77 nations, highlighting India’s crucial role in the global media and entertainment landscape.

Dr L Murugan, Union Minister of State for Information and Broadcasting and Parliamentary Affairs, introduced five significant reports at the WAVES Summit. These reports provide an extensive overview of India's flourishing media and entertainment ecosystem, focusing on key elements like content production, policy frameworks, and live events.