Synopsis
The Indian government has announced a $1 billion fund for the creator economy as part of WAVES 2025, aimed at fostering innovation and discussions in the media and entertainment sector during the summit in Mumbai from May 1 to 4, according to Union Minister Ashwini Vaishnaw.Key Takeaways
- $1 billion fund for creators' economy announced.
- WAVES 2025 to be held in Mumbai from May 1-4.
- Event aims to promote high-value content creation.
- Focus on challenges like AI, misinformation, and media sustainability.
- Collaboration between MIB and Maharashtra government established.
New Delhi, March 13 (NationPress) The government is set to establish a $1 billion fund dedicated to the creator's economy during the World Audio-Visual and Entertainment Summit (WAVES) 2025, as announced by Union Minister for Information and Broadcasting Ashwini Vaishnaw on Thursday.
The summit, scheduled to take place in Mumbai from May 1 to 4, aims to provide the creator community with a platform to produce high-value content, Vaishnaw stated during a high-profile session on WAVES 2025 held at Sushma Swaraj Bhawan.
This session, organized by the Ministry of Information and Broadcasting (MIB), aimed to engage the international community in anticipation of the upcoming WAVES 2025.
“The convergence of creativity, media, and technology is revolutionizing the global media landscape,” remarked Vaishnaw.
He further declared that a billion-dollar fund will be established to support the creator's economy.
“WAVES will act as a crucial platform for nurturing discussions, collaboration, and innovation within the Media and Entertainment sector,” added Union Minister for External Affairs Dr. S. Jaishankar.
He emphasized that the event will gather industry leaders, stakeholders, and innovators to explore new opportunities, tackle challenges, and shape the sector's future.
The WAVES summit is poised to unite global leaders, media professionals, artists, policymakers, and industry stakeholders.
In this digital era, there are numerous challenges and opportunities, with artificial intelligence, streaming revolutions, intellectual property rights, misinformation, and media sustainability being significant concerns.
This inaugural event aims to tackle these issues by promoting cultural diversity, innovation, and fair access to media platforms.
Additionally, the event featured a Memorandum of Understanding exchange between the Ministry of Information & Broadcasting and the Government of Maharashtra, enhancing collaboration in media, entertainment, and digital outreach.
