MUMBAI: Union minister of information & broadcasting Ashwini Vaishnaw stated that the media landscape is undergoing a significant shift due to the exponential growth of the creator economy. Speaking to representatives from approximately 20 national and regional media outlets on Saturday, he emphasised the fundamental changes occurring in content creation and its associated economy.

"The world of creators and their economy is going through a fundamental change. With the advent of technology, the old model is giving way to the new model, creating opportunities as well as challenges," said Vaishnaw.

He highlighted how technology has enabled broader participation in content creation, noting, “Gone are the days when a large studio was necessary for producing content. Today, a creator from a remote village in Jharkhand or Kerala can produce high-quality content and garner millions of views.”

Vaishnaw mentioned the World Audio Visual & Entertainment Summit (Waves), scheduled to take place in Mumbai from 1-4 May, which has already received over 100,000 registrations. He explained that Waves aims to establish itself as a global platform for media and entertainment, similar to the role of Davos for economic policies. The summit will also recognize top innovators with awards for their contributions to the evolving global media and entertainment sector.

Leaders from various media organisations expressed their appreciation for the government's initiative in conceptualizing Waves as a platform to connect policymakers, creators, industry leaders, technology companies, and start-ups.

Information and broadcasting secretary Sanjay Jaju welcomed the participants and emphasised the importance of collaborative dialogue in shaping the future of the media landscape. He underscored the ministry’s commitment to engaging with stakeholders across different platforms and acknowledged the active participation of media organizations in the lead-up to Waves 2025.

Vaishnaw reiterated that the creator economy is experiencing rapid growth and that prime minister Narendra Modi has acknowledged the contributions of creators to the economy and in promoting India’s soft power globally. He stated that Waves is intended to become a global connector for creators, buyers, and markets, facilitating scalable creative solutions.

Secretary Sanjay Jaju emphasized the significance of collective discussion in determining the future direction of the media industry and the ministry's commitment to engaging with stakeholders.