Dated: 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.
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About Media Development Authority of Singapore
Formed in 2003, the Media Development Authority of Singapore (MDA) plays a vital role in
transforming Singapore into a Trusted Global Capital for New Asia Media. MDA spearheads
initiatives that promote industry growth in film, television, radio, publishing, music, games,
animation, and Interactive Digital Media. At the same time, in ensuring clear and consistent
regulatory policies and guidelines, MDA helps to foster a pro-business environment for industry players and increase media choices for consumers. For more information, visit www.mda.gov.sg and www.smf.sg.