Mumbai (Maharashtra) [India], May 3 (ANI): The inaugural edition of WAVES Bazaar, held from May 1 to May 3, 2025, in Mumbai, concluded with resounding success, establishing itself as a premier platform for international business collaboration in the creative industries.

Organised under the umbrella of the World Audio Visual and Entertainment Summit (WAVES), the marketplace recorded business transactions exceeding Rs 800 crore across the Film, Music, Radio, VFX, and Animation sectors. With deal-making still underway, the total valuation is projected to surpass Rs 1000 crore in a few days.

According to the Ministry of Information and Broadcasting, a key highlight of the Bazaar was the Buyer-Seller Market which witnessed over 3,000 B2B meetings, generating revenue upwards of Rs 500 crore, with additional deals expected to close in the coming days.

Curated screenings of films at the 80-seat venue drew enthusiastic responses and appreciation for the selected films.

The Bazaar also helped emerging creators pitch their IPs to a global network of buyers and collaborators, generating significant interest and fostering new partnerships.

In a major achievement in international collaborations between India and New Zealand, Film India Screen Collective and Screen Canterbury NZ, led by Petrina D'Rozario, announced a collaborative proposal, inspired by WAVES, to launch the first-ever Indian Film Festival in New Zealand, aimed at deepening tourism, cultural exchange and co-production ties between the two countries, the ministry said.

Paving the wave for an India-Russia collaboration, Only Much Louder (OML) CEO Tushar Kumar and Gazprom Media CEO Alexander Zharov have begun early talks on a potential Memorandum of Understanding to collaborate on cross-cultural festivals and co-produce comedy and music shows in Russia and India, it stated.

The announcement of the Prime Video and CJ ENM Multi-Year Collaboration was a key highlight of the Bazaar as the strategic partnership was unveiled to distribute premium Korean content globally.

With its launch expected in June 2025 with Head Over Heels, the deal includes streaming in over 240 countries, featuring 28 subtitle languages and 11 dubbed versions. The initiative highlights Asia's growing creative presence on global streaming platforms, the ministry stated.

Another initiative that added value to the Bazaar was the announcement of the film Devi Chowdhurani, which became India's first official Indo-UK co-production. Backed by the Ministry of I&B, NFDC, FFO, and Invest India, the a pre-teaser of the film was unveiled at the Bazaar. The historical epic, set during the Sanyasi-Fakir rebellion, stars Prosenjit Chatterjee and Srabanti Chatterjee, with music by Pandit Bickram Ghosh, it added.

The announcement of the launch of the feature film Violated was another initiative that vindicated the purpose of WAVES Bazaar. A bold psychological thriller, Violated marks the directorial debut of Dimple Dugar. Celebrated for its strong female-led narrative, the film is co-produced by Fusion Flicks from the UK and JVD Films, signalling Dugar's transition from commercial to feature filmmaking.

With its impactful debut, WAVES Bazaar has not only positioned itself as a global hub for creative collaboration but also set the stage for a new era of cross-border storytelling and industry transformation. (ANI)