Will the inaugural ‘WAVES Bazaar’ see deals worth Rs 1,000 crore?

Synopsis
Key Takeaways
- ‘WAVES Bazaar’ projected to exceed Rs 1,000 crore in transactions.
- Over 3,000 B2B meetings held, generating significant revenue.
- International collaborations announced for festivals in New Zealand and Russia.
- Strategic partnership between Prime Video and CJ ENM for global content distribution.
- Positioning of ‘WAVES Bazaar’ as a hub for creative collaboration.
Mumbai, May 4 (NationPress) The first-ever edition of ‘WAVES Bazaar’ is anticipated to achieve business dealings exceeding Rs 1,000 crore, as negotiations continue, as per government sources.
Held as part of the World Audio Visual and Entertainment Summit (WAVES) in Mumbai, the marketplace has already recorded transactions surpassing Rs 800 crore across various sectors including Film, Music, Radio, VFX, and Animation, according to a statement from the Ministry of Information and Broadcasting.
The event wrapped up successfully, establishing itself as a leading platform for global business partnerships in the creative industries.
A standout feature of the Bazaar was the Buyer-Seller Market, which facilitated over 3,000 B2B meetings, yielding revenues of more than Rs 500 crore, with more deals anticipated to finalize shortly.
Curated film screenings at the 80-seat venue garnered enthusiastic reactions and accolades for the showcased films. The Bazaar also provided a unique opportunity for budding creators to present their IPs to an international audience of buyers and collaborators, sparking considerable interest and fostering new alliances.
In a notable achievement for international cooperation, the Film India Screen Collective and Screen Canterbury NZ, spearheaded by Petrina D’Rozario, introduced a collaborative initiative inspired by WAVES to establish the inaugural Indian Film Festival in New Zealand.
In a move towards fostering India-Russia relations, Tushar Kumar, CEO of Only Much Louder (OML), and Alexander Zharov, CEO of Gazprom Media, have initiated discussions regarding a potential Memorandum of Understanding aimed at collaborating on cross-cultural festivals and co-producing comedy and music shows in both nations.
The announcement of the Prime Video and CJ ENM Multi-Year Collaboration was a significant highlight of the Bazaar, revealing a strategic partnership to globally distribute premium Korean content.
Set to launch in June 2025 with ‘Head Over Heels’, the deal will encompass streaming in over 240 countries, featuring 28 subtitle languages and 11 dubbed versions.
With its significant debut, 'WAVES Bazaar' has positioned itself as a global nexus for creative collaboration, paving the way for a new era of cross-border storytelling and industry evolution, as stated by the government.