The Government of India will organize the first World Audio Visual Entertainment Summit (WAVES) under the aegis of the Ministry of Information & Broadcasting in Goa, on the sidelines of the 55th International Film Festival from November 20th to 24th, 2024.
The World Audio Visual & Entertainment Summit is a global summit for the media and entertainment industry, specifically focusing on the Indian media and entertainment industry.
India is one of the largest content creators as well as consumers in the media and entertainment sector. The Indian Media & Entertainment (M&E) industry is one of the fastest-growing sectors of India’s economy, with the second-largest online market in the world. Driven by rising incomes, the increasing availability of fast internet and low data rates, large smartphone penetration, growing consumer demand, and advertising revenues, the sector is expected to reach a value of nearly USD 54 billion by 2026, up from around USD 28 billion in 2021. With favorable policy interventions, the Media and Entertainment Sector will play a major role in achieving India’s target of a USD 5 trillion economy.
WAVES will bring M&E leaders from across the globe onto one platform to discuss issues, mechanisms, and create frameworks for enhancing opportunities. The summit will include roundtable discussions among countries; cross-cultural content promotion; boosting the AVGC industry; promoting Indian IPs; enhancing business opportunities for global and Indian players; showcasing Indian talent; and positioning M&E as a means to generate employment in a sustainable media ecosystem. WAVES will serve as a premier platform for industry stakeholders to deliberate and collaborate on emerging trends, innovations, and opportunities in the print, digital, audio-visual, and entertainment sectors.
By hosting WAVES, India will represent itself as a global player in the media and entertainment realm, enhancing its global image and soft power. (DIPR)
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