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The WAVES Bazaar, an integral part of the World Audio Visual and Entertainment Summit (WAVES 2025), has recently concluded in Mumbai, marking a significant milestone for the Indian media and entertainment (M&E) sector. The event, which spanned three days, facilitated a staggering Rs 1,328 crore in business transactions and hosted over 3,000 B2B meetings, underscoring its pivotal role in fostering collaboration and growth within the industry. This summit has solidified its position as a crucial platform for dialogue, networking, and deal-making, bringing together industry professionals, startups, government bodies, academia, and members of the public under one roof. The financial outcomes and partnerships forged at WAVES 2025 are expected to have a cascading effect, stimulating innovation, investment, and job creation across various sub-sectors within the M&E landscape. The successful completion of WAVES 2025 highlights the growing importance of the Indian M&E sector on a global scale, attracting international attention and fostering cross-border collaborations that will contribute to the sector's sustained growth and competitiveness. The event serves as a testament to India's burgeoning creative economy and its potential to become a major player in the global media and entertainment market. The focus on fostering innovation, nurturing startups, and promoting collaboration between industry stakeholders positions WAVES as a catalyst for transformative change within the M&E sector, driving its evolution and shaping its future trajectory. The commitment of the Maharashtra government, through substantial investments and strategic partnerships, further reinforces the state's position as a leading hub for media and entertainment in India.
A significant highlight of the summit was the Government of Maharashtra's commitment to supporting and expanding the media and entertainment sector through the signing of Memorandums of Understanding (MoUs) amounting to Rs 8,000 crore. These MoUs demonstrate the state government's proactive approach to fostering a conducive environment for the M&E industry, attracting investments, and creating employment opportunities. The government's financial commitment reflects its recognition of the sector's potential to contribute significantly to the state's economic growth and cultural enrichment. The MoUs are expected to facilitate infrastructure development, skill enhancement programs, and the creation of a vibrant ecosystem that supports innovation and creativity. This investment will likely attract both domestic and international players, further solidifying Maharashtra's position as a leading destination for media and entertainment companies. The government's strategic partnerships with universities and industry stakeholders underscore its commitment to building a sustainable and competitive M&E sector that can thrive in the global marketplace. The focus on education, research, and development will ensure that the industry has access to a skilled workforce and cutting-edge technologies, enabling it to adapt to the evolving demands of the digital age. The Maharashtra government's proactive role in supporting the M&E sector through these MoUs exemplifies a model for other states to emulate, demonstrating the positive impact of government policies and investments on the growth and development of a key sector of the economy.
The WAVES Bazaar witnessed active participation from various sectors, including film, music, radio, VFX, and animation, showcasing the diversity and dynamism of the Indian M&E industry. Of the total reported transactions, approximately Rs 971 crore resulted directly from B2B meetings, highlighting the effectiveness of the event as a platform for facilitating business deals and fostering collaborations. The Buyer-Seller Meet, a key feature of the marketplace, recorded over 3,000 business interactions, demonstrating the high level of engagement and networking opportunities that the event provided. These interactions are crucial for connecting buyers and sellers, identifying new business opportunities, and forging strategic partnerships that can drive growth and innovation within the sector. The active involvement of various sub-sectors within the M&E industry underscores the comprehensive nature of the summit and its ability to cater to the diverse needs of industry stakeholders. The success of the B2B meetings and the Buyer-Seller Meet highlights the importance of creating platforms that facilitate direct interaction and collaboration between industry players, enabling them to leverage each other's expertise and resources to achieve common goals. The WAVES Bazaar serves as a model for other industry events to emulate, demonstrating the value of providing a dedicated space for business networking and deal-making.
Several notable developments emerged from the WAVES Bazaar, indicating the potential for significant international collaborations and partnerships. A collaborative proposal between Film India Screen Collective and Screen Canterbury NZ aims to launch the first Indian Film Festival in New Zealand, showcasing Indian cinema to a wider global audience and fostering cultural exchange between the two countries. This initiative highlights the growing international appeal of Indian films and the potential for cross-border collaborations to promote cultural understanding and appreciation. Furthermore, Only Much Louder CEO Tushar Kumar and Gazprom Media CEO Alexander Zharov discussed early-stage plans for cross-cultural events and co-productions between Russia and India, suggesting the potential for greater collaboration between the two countries in the media and entertainment space. These discussions indicate the growing interest in exploring new markets and co-producing content that appeals to a diverse global audience. The potential for cross-cultural events and co-productions can significantly enhance the reach and impact of Indian media and entertainment products, fostering greater understanding and appreciation of Indian culture on a global scale. These initiatives highlight the importance of fostering international partnerships and collaborations to promote the growth and development of the Indian M&E sector.
The announcement of a multi-year collaboration between Prime Video and CJ ENM, focused on distributing Korean content to global audiences, further underscores the growing importance of international partnerships in the media and entertainment industry. This collaboration will provide global audiences with access to a wider range of Korean content, showcasing the diversity and creativity of the Korean entertainment industry. The partnership also demonstrates the increasing demand for diverse and high-quality content from different regions of the world. The distribution of Korean content through Prime Video's global platform will significantly enhance its reach and impact, promoting cultural exchange and fostering greater understanding between different cultures. This collaboration exemplifies the potential for partnerships between streaming platforms and content creators to expand the reach and impact of diverse content, contributing to a more globalized and interconnected media landscape. Other announcements, including the Indo-UK co-production ‘Devi Chowdhurani’ and the film ‘Violated,’ a joint project between UK-based Fusion Flicks and India’s JVD Films, further highlight the growing trend of international co-productions in the film industry. These co-productions enable filmmakers to leverage the resources and expertise of different countries, creating content that appeals to a wider global audience. The increasing number of international co-productions demonstrates the growing interconnectedness of the global film industry and the potential for collaboration to drive innovation and creativity.
The Maharashtra government's significant contribution to the summit's economic agenda was further exemplified by the signing of MoUs worth Rs 1,500 crore each with the University of York and the University of Western Australia. These partnerships will facilitate collaboration in research and development, skill enhancement programs, and the exchange of knowledge and expertise, contributing to the growth and development of the M&E sector in Maharashtra. The partnerships with leading international universities will provide access to cutting-edge technologies and best practices, enabling the state to stay at the forefront of innovation in the media and entertainment industry. Additional agreements, including Rs 3,000 crore with Prime Focus and Rs 2,000 crore with Godrej through the state's Industries Department, further demonstrate the government's commitment to attracting investments and supporting the growth of the M&E sector. These investments will create employment opportunities, stimulate economic growth, and enhance the competitiveness of the state's M&E industry. The Maharashtra government's proactive approach to attracting investments and fostering partnerships underscores its commitment to building a vibrant and sustainable M&E ecosystem.
In the startup space, WAVEX played a crucial role in identifying and supporting promising ventures in the media and entertainment industry. 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. This initiative provided a platform for startups to showcase their innovative ideas and attract potential investors, fostering the growth and development of the startup ecosystem in the M&E sector. The participation of prominent investors from various sectors underscores the growing interest in the M&E startup space and the potential for significant returns on investment. With over 1,000 registrations, investment discussions worth approximately Rs 50 crore are said to be in progress, indicating the potential for substantial funding to flow into the M&E startup ecosystem. The Start-Up Pavilion saw participation from over 100 ventures showcasing innovative ideas and products, demonstrating the vibrancy and dynamism of the startup community in the M&E sector. These startups are developing innovative solutions for various challenges in the industry, driving innovation and disruption in the M&E landscape.
WAVEX aims to build a supportive ecosystem for M&E startups through a dedicated angel investor network, incubators, and mentorship programs. This comprehensive approach will provide startups with access to funding, guidance, and resources, enabling them to overcome challenges and achieve their full potential. The establishment of a dedicated angel investor network will provide startups with access to early-stage funding, enabling them to develop their ideas and build their businesses. Incubators will provide startups with a supportive environment to develop their products and services, access mentorship, and network with other entrepreneurs. Mentorship programs will provide startups with guidance and advice from experienced industry professionals, helping them to navigate the challenges of building a successful business. WAVEX 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. This focus on supporting early-stage ideas will help to foster innovation and creativity in the M&E sector, ensuring that the industry has a pipeline of new ideas and talent. The support for startups from Tier 1 and Tier 2 cities will help to decentralize the M&E industry, creating opportunities for entrepreneurs in underserved areas.
The success of WAVES 2025 and the WAVES Bazaar underscores the significant growth and potential of the Indian media and entertainment sector. The event has facilitated substantial business transactions, fostered international collaborations, and supported the growth of the startup ecosystem. The commitment of the Maharashtra government to investing in the M&E sector further reinforces its importance as a key driver of economic growth and cultural enrichment. The focus on innovation, skill development, and international partnerships will ensure that the Indian M&E sector continues to thrive and compete on a global scale. The WAVES Bazaar serves as a model for other industry events to emulate, demonstrating the value of providing a platform for networking, deal-making, and knowledge sharing. The event has contributed significantly to the growth and development of the Indian M&E sector, and its impact is expected to be felt for years to come. The continued success of events like WAVES 2025 will be crucial for fostering innovation, attracting investments, and promoting the growth of the Indian M&E sector in the global marketplace.
Source: WAVES Bazaar concludes with business deals worth Rs 1,328 crore