The Indian media and entertainment industry needs to focus on creating greater value in an era of unlimited content, with attention emerging as the new currency, JioStar CEO Kevin Vaz said while delivering the inaugural address at FICCI FRAMES 2026.

Welcoming policymakers, creators, businesses, platforms and other stakeholders from across the media and entertainment ecosystem, Vaz said forums such as FICCI FRAMES play an important role in bringing the industry together and helping shape its future.

In his address, Vaz also paid tribute to late Leena Jaisani, Deputy Secretary General and Head of Media & Entertainment at FICCI, requesting the gathering to observe a moment of silence in her memory. He described Jaisani as one of the founding members of FICCI’s Media & Entertainment Committee and a “true torchbearer” of its legacy, recognising her contribution to the industry.

FICCI FRAMES 2026 is being held around the theme ‘India’s Media Moment: Creating Value in an Age of Infinite Content’, which, according to Vaz, raises a critical question for the industry — how to continue creating value when content itself is no longer scarce.

Vaz cited industry figures showing that the Indian media and entertainment industry grew 9 percent in 2025 to Rs 2.78 lakh crore, with digital crossing Rs 1.1 lakh crore and live events recording 47 percent growth. He said that while the numbers are encouraging, the bigger opportunity lies in understanding the changes taking place beneath them.

“For much of our history, the biggest constraint was distribution, with limited channels, screens and ways for stories to find their audiences, whereas today what is scarce is not content but attention,” Vaz said.

“Attention is the new currency, and in an era where content and ideas seem endless, the magic lies in creating something that makes the ‘thumb stop!’,” he added.

Vaz highlighted the changing relationship between television, streaming, mobile and Connected TV, saying the Indian market was not witnessing one ecosystem replacing another but rather their coexistence and convergence.

He pointed out that linear television continues to remain deeply embedded in Indian households even as Connected TV and digital consumption accelerate. According to Vaz, the television screen is increasingly becoming a connected entertainment hub bringing together linear channels, streaming, live sports and on-demand entertainment.

He also highlighted the role of the large screen as a shared medium. Recent industry estimates, he said, suggest that more than 80 percent of Connected TV viewing is shared with family or friends, while India’s CTV universe is estimated at more than 200 million viewers.

This, Vaz said, makes Connected TV an important opportunity for the industry as it combines the scale and lean-back experience of the large screen with digital capabilities such as search, recommendation, personalisation, addressability and measurability.

“The opportunity is not to choose between screens, but to give audiences the freedom to move seamlessly across screens, while giving the industry better ways to understand and serve those audiences,” he said.

Vaz also pointed to linear TV streaming as an example of the evolution underway, bringing the scale and familiarity of television together with the flexibility of streaming. He said it allows consumers to watch live channels on the screen and connection of their choice while also opening new opportunities for measurement and advertising.

The TATA IPL 2026, he said, offered a clear example of this convergence, reaching more than 1.2 billion viewers and demonstrating the scale that can emerge when television, streaming, sport, technology and fandom come together.

The evolution, however, is not limited to consumption patterns. Vaz also highlighted the emergence of new storytelling formats such as micro-drama, which he said was worth Rs 650 crore in 2025 and is expected to grow at more than 50 percent annually by 2028.

He said the emergence of new formats could broaden the creative ecosystem by creating opportunities for new creators, writers, producers and production houses. JioStar’s entry into micro-drama through TADKA, along with its engagement with more than 50 production houses, was cited as an example of efforts to widen the production ecosystem.

Another emerging opportunity is Content Commerce, where audiences can move directly from content discovery and engagement to purchase. Vaz said that during TATA IPL 2026 and the live stream of ‘Dhurandhar The Revenge’, JioHotstar enabled viewers to discover and purchase products without leaving the app.

“It is a simple idea, but an important one: reducing the distance between discovery, engagement and action,” he said, describing Content Commerce as a third meaningful value pool for the industry alongside advertising and subscriptions.

Turning to regulation, Vaz said the broadcasting sector has long been seeking greater forbearance to give the industry room to innovate and evolve. He stressed the need for self-regulation and strong industry best practices as the media landscape moves into its next phase.

“A tangible roadmap is needed to remove the regulatory burden and cost of linear broadcasting, allowing it to evolve alongside digital and giving consumers greater choice in how, where and on which screen they consume content,” Vaz said.

He also welcomed the Ministry of Information & Broadcasting’s removal of the 10+2 advertising cap, calling it an important step towards a regulatory framework that reflects the changing realities of linear broadcasting and the broader media landscape.

At the same time, Vaz urged the Ministry to restore the release of BARC audience ratings immediately. He said the absence of credible and verifiable audience data was creating uncertainty for broadcasters, advertisers and agencies, particularly during the festive season.

“Reliable measurement is essential for brands to plan campaigns and reach audiences efficiently,” he said, adding that television remains one of India’s most widely consumed and affordable media platforms and that broadcasting and advertising play an important role in the wider economic ecosystem.

Vaz also touched upon artificial intelligence, saying AI is transforming everything from production and storytelling to workflows, analytics and personalisation. However, he stressed that the human being must remain at the centre of the creative ecosystem.

He called for responsible development with greater clarity around copyright, consent, attribution and fair value for creators, adding that the objective should not be to slow innovation but to ensure technology and creativity grow together.

Concluding his address, Vaz said the industry’s success in an age of infinite content should not simply be measured by the volume of content produced or the number of screens reached, but by the value and impact created.

He left the industry with three questions: whether it had created something people genuinely cared about, whether it had built intellectual property capable of travelling from India to the world, and whether it had created value for everyone in the ecosystem, from audiences and creators to businesses.

“That, to me, is what India’s media moment is really about,” Vaz said.