What happens when a local domestic market is simply not enough to boost enough revenue to build a strong local company?
The government steps in.
Singapore, in its latest move to build a media hub, has collaborated with Hollywood Production Company to produce films for the Asian market.
Asia is apparently a huge growing market in terms of domestic movies being produced. However, trying to break into markets is never easy. In Singapore, MDA, a government authority has been actively participating in the exchange of skills and knowledge into the industry in the past few years. Collaborations like this are not something new.
Having increase trade in the creative goods has been seen as a booster to help the domestic film industries gain more technological knowledge and filming skills. This is definitely a good way in helping the domestic industry. However, will there be one day where too many firms set up base in Singapore but none serves the domestic industry? In the recent years, many of the producers have actually placed much focus upon the domestic market as well. But truth to be told, the money lies in global productions.
Indeed, one of the easiest way to nurture a local industry to join the global scene is through government aid. Government aid comes not only in the form of funds, but also relationships which local companies can tap on.
However, there comes another question. With government becoming the new stakeholder, it also means that the companies have one more person to account to. In this case, a regulatory body may prove to be more troublesome. Will this eventually kill the creativity of the creative industry?
By: scaredyguen on 2010/05/18
at 15:29
About this, Mediacorp had stakes in Japanese anime movie Yona Yona Penguin!
By: zeelei on 2010/05/18
at 18:20