NEW DELHI: With the advent of technology, world of creators and their economy is going through a fundamental change, Union Minister for Information and Broadcasting Ashwini Vaishnaw said on Saturday.
The old model is giving way to the new model, he said.
He also said that gone are the days when a big studio was needed for creating content, and today, a creator from a remote village in Jharkhand or Kerala can create good-quality content and get millions of views.
The minister was interacting with the media outlets ahead of the maiden World Audio Visual & Entertainment Summit (WAVES) scheduled in Mumbai from May 1 to 4. The interaction was attended by about 20 national-level media houses and regional news media.
The minister said that the shape of the media world is changing, and the change creates both opportunities and challenges. He further stressed the collective need as a country to respond to the new model.
Vaishnaw also noted that the creator's economy is growing exponentially. “Our visionary Prime Minister Narendra Modi 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 and entertainment, just as Davos serves as a global platform for economic policies,” he added.
About one lakh participants have registered for WAVES 2025. The top innovators will be honoured with Awards, celebrating their contributions to the evolving global media and entertainment landscape.
“WAVES is emerging as a global connector between creators, buyers, and markets for scalable creative solutions. Through WAVES, buyers and sellers are getting a platform, where creators can offer their content & firms can source quality creative work,” the minister further stated.
The heads of various media organisations attended the session and lauded 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 media and entertainment sector on one platform.
The secretary of the Ministry of Information & Broadcasting, Sanjay Jaju, welcomed all the participants and dignitaries, highlighting the significance of collective dialogue in shaping the future of the media landscape.
He emphasised the ministry’s commitment to engaging with stakeholders across platforms and appreciated the active participation of media organisations in the lead-up to WAVES 2025.