Mumbai May 5 ( UNI): The premier edition of World Audio Visual and Entertainment Summit (WAVES 2025) concluded on a high note in Mumbai on Sunday evening registering an overwhelming response from exhibitors, industry leaders, startups, policymakers, academia, and the general public.
The summit emerged as a key convergence point for the media and entertainment ecosystem, drawing participation from every segment of the industry — from celebrated artists and influential content creators to tech innovators and corporate leaders.
With a vibrant mix of exhibitions, panel discussions, and B2B collaborations, the event witnessed a remarkable turnout and reaffirmed India's position as a rising global Powerhouse of media and entertainment.
The marketplace recorded business deals or transactions worth Rs. 1328 crores across the film, music, radio, VFX, and animation sectors. Out of the total estimated outcome, Rs. 971 cr has been from B2B meetings alone.
A key highlight of the Bazaar was the Buyer-Seller Market which witnessed over 3,000 B2B meetings. In a major achievement under international collaboration, Film India Screen Collective and Screen Canterbury NZ from New Zealand announced a collaborative proposal to launch the first-ever Indian Film Festival in New Zealand.
Only Much Louder CEO Tushar Kumar and Alexander Zharov, CEO of Russian firm Gazprom Media CEO announcing early talks on a MoU to collaborate on cross-cultural festivals and co-produce comedy and music shows in Russia and India was another achievement, said government press release.
The announcement of the Prime Video & CJ ENM Multi-Year Collaboration was another highlight of the Bazaar as the strategic partnership was unveiled to distribute premium Korean content globally.
The other milestones include the announcement of the film ‘Devi Chowdhurani,’ which became the India’s first official Indo-UK co-production, and the film ‘Violated’ which will be a co-production of Fusion Flicks from the UK and JVD Films.
The Maharashtra government has also added business value to the summit by signing MoUs worth Rs 8,000 crore at the WAVES. While MoUs worth rupee 1,500 crore were signed each with the University of York and the University of Western Australia, the state’s Industries Department signed MoUs worth Rs 3,000 cr and Rs 2,000 cr with Prime Focus and Godrej respectively, release added.
The Global Media Dialogue 2025, held during WAVES 2025 in Mumbai, was a landmark event with participation from 77 nations, underscoring India’s pivotal role in the global media and entertainment arena. The dialogue highlighted the power of international collaborations in fostering creativity while respecting cultural sensitivities.
The member nations collectively adopted the ‘WAVES Declaration’, emphasizing the urgency of bridging the digital divide and leveraging media to promote global peace and harmony. The discussions underscored the profound role of films in uniting diverse cultures and the growing significance of individual stories in the creator economy, amplified by technological advancements.
Dr. S. Jaishankar, Union External Affairs Minister, stressed the need for a synergy between technology and tradition, advocating for the empowerment of youth through skill development and innovation.
Ashwini Vaishnaw, Union Minister for Information & Broadcasting, highlighted the transformative impact of technology on content creation and the critical importance of fostering local content, co-production agreements, and joint funding initiatives.
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