WAVES 2025 Facilitates Discussion on the Future of Indian Media
The WAVES 2025 conference kicked off at the Jio World Convention Centre in Mumbai, featuring a thought-provoking panel discussion titled โIndian M&E @100: Reimagining the Future of Media and Entertainment.โ Industry leaders gathered to discuss the evolution of the media and entertainment sector as India approaches its centenary in 2047. Moderated by Vanita Kohli Khandekar, the session highlighted the sector’s remarkable growth and the challenges and opportunities that lie ahead.
Growth of the Media and Entertainment Sector
During the opening remarks, Vanita Kohli Khandekar emphasized the dramatic transformation of India’s media and entertainment industry. She noted that the sector, valued at a mere โน500 crore in 2000, has surged to an impressive โน70,000 crore today. Kohli Khandekar attributed this growth to pivotal policy changes, including the granting of industry status to filmmaking and tax exemptions for multiplexes. She raised critical questions about the role of artificial intelligence (AI) in enhancing content quality and monetization. Kohli Khandekar stressed the importance of inclusivity and sensitivity to India’s diverse cultural and linguistic landscape as the industry scales up.
The Impact of Digital Platforms
Vinit Karnik, Managing Director of GroupM, shared insights on the current advertising landscape within the media and entertainment sector. He revealed that digital platforms now account for 60% of advertising revenue, reflecting a significant shift in content consumption and marketing strategies. Karnik acknowledged the disruptive influence of technology, particularly AI, but underscored the necessity of maintaining a human touch in content creation. He highlighted the importance of using technology to enhance storytelling and announced a new course on prompt engineering at Mumbai University, aimed at preparing future professionals for the evolving industry.
Future of Content Delivery
Rajan Navani, Founder and CEO of JetSynthesys, discussed the future of content delivery, predicting a shift towards cross-platform interactive experiences. He pointed out that India currently holds only 2-3% of the global media and entertainment market and emphasized the need for investment in talent and infrastructure to increase this share by 2047. Navani acknowledged the challenges posed by relatively low disposable incomes in India compared to developed markets but expressed optimism that economic growth would drive consumer spending. He cited the Global e-Cricket Premier League as an example of how audiences are already engaging in personalized consumption.
AI and the Future of Content Creation
Vikram Tanna, CEO of Eros Now, called for India to position itself as a global hub for AI innovation in media. He argued that AI has the potential to revolutionize both content creation and delivery, enabling users to become creators themselves. Tanna highlighted the importance of strategic interventions to keep India competitive in the digital age. He emphasized the need to simplify new technologies to make them as accessible as the internet, thereby expanding business opportunities. Tanna concluded by stressing the importance of understanding how to engage with machines and leverage the vast content landscape for advertising and audience interaction.
The session provided a forward-looking perspective on India’s media and entertainment sector, highlighting the interplay of policy, technology, talent, and cultural relevance in shaping its future. WAVES 2025 will continue at the Jio World Centre until May 4, featuring additional sessions focused on global trends in the audio-visual and entertainment industries.
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