Singapore - Singapore is on track to becoming a regional media hub and a centre for interactive digital media (IDM) by riding on media convergence trends, and leveraging its infrastructure and talent pool. Currently, the country’s media sector contributes S$18.2billion in revenue, S$4.9billion in value-added inputs, and employs a workforce of 53,000. In addition, international projects secured from 2005-2008 have been estimated to generate up to 1,600 more jobs, while co-production deals for content inked from 2003-2007 came up to S$190million.
That’s according to the latest report card on Singapore’s media industry issued by key government agencies including the Media Development Authority (MDA), Infocomm Development Authority (IDA) and Economic Development Board (EDB) in their inaugural collaboration for the joint update of the industry. The update will be followed by the release of the Singapore Media Fusion 2015 industry blueprint later in 2008, to chart the sector’s growth into the future.
Singapore’s business environment which promotes growth of local and international media enterprises; a rising global demand for locally-developed original multi-platform content; and increasing activities from local content and technology providers were identified as contributing factors that have spurred the growth of Singapore’s media industry to date.
Highlighted by the agencies were key developments in the TV segment including the establishment of Singapore offices by BBC Worldwide and AETN which added to 14 other international TV networks’ presence in Singapore; Mark Burnett Productions’ setup of its Asian HQ in Singapore along with a US$20million venture with Genting International to produce and distribute reality content and game shows regionally; as well as MDA’s agreement with FremantleMedia Enterprises to co-invest in media projects by Singapore-based producers with the latter to distribute the content worldwide.
Developments in the IDM segment include the setup of Singapore operations by companies including special effects house Lucasfilm, gaming firms Electronic Arts, Koei Entertainment and Ubisoft as well as content producer and distributor Southern Star. Koei Entertainment had its latest Singapore-developed MMORPG game Romance of the Three Kingdoms Online on display at the press briefing. Regional distribution rights to major online game titles including Hellgate: London and Granado Espada, as well as Mythos were clinched by local firms Infocomm Asia Holdings and Asiasoft respectively.
In addition, the agencies noted the establishment of an interactive digital centre in Temasek Polytechnic for 3D visualization, and a digital cinema hub and network operations centre via a partnership between IDA and Thomson’s Technicolor digital cinema business. Also, a S$500million fund from MDA and partner agencies is being planned to finance projects from corporations, institutions and the public to drive innovations in the new media segment. More than 100 projects have been funded since October 2006.
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