Cannes, France, 12 May 2009 – During a press briefing here at the start of the Cannes
Film Market and Festival, the Media Development Authority of Singapore (MDA) today
announced several new initiatives as part of its Singapore Media Fusion Plan (SMFP) to
attract the world's creative community to partner with Singapore companies as it strives
to develop Singapore into a trusted global capital for New Asia Media.
“New Asia Media is about the diversity and dynamism of Asia as an emerging content
powerhouse of ideas and creativity that is fast captivating the imagination of global
audiences. Singapore’s strategic location in the heart of Asia, at the cross-road between
East and West, gives our media companies a unique advantage in the creative process
for making content from Asia that resonates with domestic as well as international
audiences,” said Dr Christopher Chia, MDA’s Chief Executive Officer.
To this end, Dr Chia added that the Singapore Government has earmarked €116.5
million (US$156 million; S$230 million) over five years to develop the country's media
content sector. This is in addition to the €253 million (US$340 million; S$500 million)
already committed to interactive digital media research and development. SMFP aims to
provide the best environment for media business, while leveraging R&D to position
Singapore at the leading edge of digital media. Emphasising the creation of new
intellectual properties, as well as the formation of new digital media industries, the SMFP
is looking to partner international companies tapping on new markets in Asia and
beyond.
The three initiatives outlined by the MDA today include:
International Film Fund
Providing Singapore-based production and post-production companies with the
opportunity to executive produce and/or co-produce films of global appeal with
international partners, MDA today launched the new International Film Fund (IFF), which
will encourage projects to be shot in and out of Singapore. The fund will allow a
contribution of up to €$2.5 million (US$3.4 million; S$5 million) per project, covering 17
to 20 projects ranging from animation, live-action features and post-production projects.
MDA will take a share of the rights and revenues of the films as appropriate for its
investment.
The IFF is in addition to the €659 million (US$882 million; S$1.3 billion) of private equity
investment in Singapore that is currently available to filmmakers.
Stereoscopic 3D Development Fund
As a result of its inaugural 3DX Festival, a global gathering of the stereoscopic 3D filmed
entertainment and technology sectors which took place last November, Singapore has
earmarked the first €5 million (US$6.7 million; S$10 million) for its Stereoscopic 3D
Development Fund. Under this Fund, Singapore has committed to co-produce a slate of
three 3D films, all of which will be in production by the end of March 2010, and which are
being offered for pre-sale here at Cannes. The first title of the slate is AMPHIBIOUS, a
science-fiction adventure project to be directed by Brian Yuzna.
Mediapolis @ one-north
Currently under development, Mediapolis @ one-north is a state-of-the-art studio
complex which offers sound stages, digital production, post production, broadcast and
distribution facilities. A collaboration between the Singapore Government and private
sector investors, Mediapolis @ one-north, at its completion in 2020, will span 47 acres
(19 hectares) and will serve as a catalyst for film, television, animation, video game and
emerging new media production.
In addition to the studio complex, the master plan for Mediapolis @ one-north includes
research and development labs and work lofts, as well as retail and recreation amenities
and accommodation, creating a truly one-stop-shop for tomorrow's media industry.
The first tenant will be Infinite Frameworks, the Singapore-based production company
with expertise in computer graphics and visual effects. Infinite Frameworks has
committed to operating from the new complex and will be building two visual effects
soundstages for film and television on 3 acres (1.2 hectares). These aim to be among
the most globally competitive one-stop visual effects centres in the industry, according to
its managing director Mike Wiluan.
SMFP is the extended national blueprint for Singapore’s media sector that builds on the
Media 21 blueprint executed from FY2004 to FY2008. Based on the latest statistics
available, as of 2006, Singapore’s media sector contributed €9.8 billion (US$13.2 billion;
S$19.5 billion) in revenue to the economy and employed 54,700 people. Under Media
21, Singapore has evolved into a broadcast hub, with 15 out of 17 major international
cable and satellite broadcast networks in Asia based here. Likewise, international
games and animation giants such as LucasFilm Animation, Electronic Arts and Ubisoft
are drawn there. Nowadays, Made-by-Singapore content across films, television, games
and animation could be found in over 50 countries, winning awards around the world.
The country’s foray into interactive digital media research and development is also
beginning to bear fruits, with 250 R&D projects from companies, individuals and
institutes of higher learning supported since October 2006.
Saturday, January 30, 2010
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