In a historic announcement at the World Audio-Visual and Entertainment Summit (WAVES) 2025, Boston Consulting Group (BCG) released an exhaustive report entitled “From Content to Commerce: Mapping India’s Creator Economy.” The report estimates that India’s growing creator economy is likely to impact more than dollar 1 trillion worth of consumer expenditure by 2030, a major jump from its present 350 billion dollar . Also, the government has sanctioned Rs 391 crore for establishing the Indian Institute of Creative Technology (IICT).
The Rise of India’s Creator Economy
India’s online space has seen a record-breaking growth in content creation, with an estimated 2 to 2.5 million active digital creators, people with more than 1,000 followers. Though the figure is huge, only 8–10 per cent are actually monetising their content, leaving a huge untapped potential in the industry.
The BCG report highlights that creators now drive over 30 per cent of consumer choices, impacting dollar 350–400 billion in spending today. This impact is likely to expand exponentially, with the ecosystem’s direct revenues likely to increase from the present dollar 20–25 billion to a whopping dollar 100–125 billion by the end of the decade.
Diversification and Expansion
The creator economy is no longer limited to Gen Z or urban hubs. It is breaking free of these populations, going to diverse age groups and city levels. Short-form video continues to be the most prevalent form of content, with comedy, movies, daily soaps, and fashion being the top consumed genres. Brand strategies themselves are changing hand in hand with this, putting more focus on quicker content generation, more independence for creatives, more variety in targeting customers, and more outcome-based tests. Revenue streams are also varying, with consumer-funded channels such as virtual gifting, live commerce, and subscriptions becoming stronger.
Government Initiatives: A 1 Billion dollar Boost
Identifying the enormous potential of the creator economy, Union Information and Broadcasting Minister Ashwini Vaishnaw declared a 1 billion dollar fund that will support empowering digital content creators. This fund will look to give access to capital for creators, build their skills, and take their reach global.
“A dollar 1 billion fund will be established for the creator economy so that our passionate creators, equipped with new technologies, can scale up, improve production, and reach global markets,” Vaishnaw said.
The fund is likely to be in the form of a public-private partnership (PPP) and details of government funding and private sector contribution will be announced shortly.
Setting up of Indian Institute of Creative Technology
In a move to foster expertise in creative and digital technologies, the government has sanctioned Rs 391 crore for establishing the Indian Institute of Creative Technology (IICT). Modeled after premier institutions like the IITs and IIMs, the IICT will be headquartered in Mumbai’s Film City, Goregaon. “Within a short while, together with the Chief Minister of Maharashtra, we will finalize the building plan, faculty organisation, and how the media and entertainment industry will be accessed in the next few days,” Vaishnaw further added.
WAVES 2025: A Global Convergence
WAVES 2025, which took place from May 1 to 4 in Mumbai, is a global media and entertainment industry platform. The summit seeks to empower new talent through initiatives such as the “Create in India Challenge,” which offers young creatives a global stage to display their talent.
The forum hosts a variety of high-impact elements, such as an Industry Leaders’ Round Table, the Global Media Dialogue, and the Thought Leaders Track. The Bharat Pavilion commemorates India’s rich heritage of storytelling, while the WAVES Bazaar is an exclusive marketplace for content buying and business alliances.
The BCG report highlights that creators now drive over 30 per cent of consumer choices, impacting dollar 350–400 billion in spending today
One of the major features is WaveXcelerator, bridging M&E startups with investors and mentors via live pitching rounds. CreatoSphere provides experiential industry-led zones, gaming venues, masterclasses, and the create in India Challenge grand finale, which ends with the WAVES CIC Awards.
Create in India Challenge
The Ministry of Information and Broadcasting launched the ‘Create in India Challenge’ as part of its preparation for WAVES 2025. This initiative encourages creativity and innovation and highlights India’s emerging position as a world leader in the media and entertainment industries.
The challenge features four flagship competitions:
- Waves Reel Making Challenge in association with Meta.
- Waves Explorer Challenge supported by YouTube.
- Waves Chronicles: AI Comic Art Challenge in collaboration with Google Play.
- Waves AI Art Installation Challenge.
These challenges unite creators, technologists, and innovators to discover the confluence of art, technology, and storytelling.
Global Participation and Future Outlook
WAVES 2025 has garnered participants from more than 100 nations, including top media, technology, and entertainment professionals. The summit is expected to create substantial discussions and collaborations between Indian and international M&E professionals, enriching the industry’s creative as well as business landscape.
External Affairs Minister S. Jaishankar stressed the summit’s significance in cultural balancing, saying, “Economic and political rebalancing is heading towards cultural balancing. We are not really global if we are not really local. WAVES 2025 reflects the spirit of this effort.”
As India establishes itself as a content creation and digital innovation hub on the global stage, the announcements made at WAVES 2025 mark a revolutionary moment in the nation’s media and entertainment industry.
