Content is no longer scarce, attention is: JioStar’s Kevin Vaz flags new media economy

“Attention is the new currency,” Kevin Vaz, CEO, Entertainment, JioStar, said at FICCI Frames 2026, adding that in an age of seemingly infinite content, “the magic lies in creating something that makes the thumb stop.”

Vaz, who is also Chair of the FICCI Media & Entertainment Committee, was speaking against the backdrop of a sector that grew 9% in 2025 to ₹2.78 lakh crore. Digital crossed ₹1.1 lakh crore, while live events grew 47%, according to industry estimates.

For years, distribution was the industry’s biggest constraint, with limited channels and screens. Today, audiences have more ways to consume content, making attention, engagement and measurement increasingly important, he said

One of the biggest changes is the convergence of television, streaming, mobile and connected TV. Vaz said India is not seeing one ecosystem replace another, but rather multiple formats coexist and create new opportunities.

The connected TV universe is estimated at more than 200 million viewers, while over 80% of CTV viewing is shared with family or friends. That gives the large screen an advantage as both a shared entertainment platform and a digital medium capable of search, recommendation, personalisation, addressability and measurement, he said.

The scale of this convergence was evident during TATa IPL 2026, which reached more than 1.2 billion viewers, according to Vaz. 

At the same time, newer formats are creating additional avenues for creators and businesses. Micro-drama was worth ₹650 crore in 2025 and is expected to grow at more than 50% annually by 2028. JioStar has entered the segment through TADKA and is working with more than 50 production houses, Vaz said.

Content commerce is another emerging revenue pool. During TATA IPL 2026 and the live stream of Dhurandhar The Revenge, JioHotstar enabled viewers to discover and purchase products without leaving the app.

“This is a simple idea, but an important one,” Vaz said, calling content commerce as a third meaningful value pool for the industry alongside advertising and subscriptions. 

Challenges persist

However, the industry’s evolution is being accompanied by regulatory and measurement challenges. Vaz called for a roadmap to reduce the regulatory burden and cost of linear broadcasting, while welcoming the government’s removal of the 10+2 advertising cap. .

He also urged the Ministry of Information & Broadcasting to restore BARC audience ratings immediately, saying the absence of credible and verifiable audience data is creating uncertainty for broadcasters, advertisers and agencies, particularly during the crucial festive season.

AI, meanwhile, is adding another layer of change, from production and storytelling to analytics and personalisation. Vaz said innovation must be accompanied by clarity around copyright, consent, attribution and fair value for creators.

For India’s media industry, he said, the next phase will ultimately be less about how much content it can produce and more about whether that content creates value for audiences, creators and businesses.