Goa to Host First World Audio Visual & Entertainment Summit in 2024

The Ministry of Information Broadcasting will host the inaugural World Audio Visual & Entertainment Summit (WAVES) in Goa from November 20-24, 2024, alongside the International Film Festival of India (IFFI). The summit aims to create job opportunities and address changes in the Media & Entertainment industry.

The Ministry of Information Broadcasting is set to organize the first edition of the World Audio Visual & Entertainment Summit (WAVES) from November 20-24, 2024. The highly anticipated event will take place in Goa, in collaboration with the State Government of Goa. Union IT Minister Ashwini Vaishnaw, speaking with reporters, emphasized the Media and Entertainment industry's role as a significant employment provider, currently employing around 25 lakh individuals. He noted that technological advancements have driven structural changes in the industry, making WAVES crucial to addressing these changes and boosting employment.

Goa's Chief Minister, Pramod Sawant, welcomed the initiative, highlighting the state's two-decade-long experience in hosting the International Film Festival of India (IFFI). Sawant expressed commitment to ensuring the success of the WAVES summit, underscoring Goa's readiness to host such a significant event. The Union Minister also marked the curtain raiser of WAVES 2024 in the national capital.

The Ministry of Information and Broadcasting reported that the global Media & Entertainment industry, which includes Films, TV, Broadcast, Print, Radio, News, Advertising, Animation, VFX, Gaming & E-sports, Music, and LIVE events, achieved a revenue of USD 2.32 trillion in 2022. India's market, currently valued at USD 26.2 billion, holds potential for growth. WAVES is expected to serve as a pivotal platform fostering dialogue, trade collaboration, and innovation, drawing industry leaders to explore opportunities, address challenges, and shape the future of the M&E sector.

(With inputs from agencies.)