Singapore as a Media Financing Hub

Media Financing

To transform Singapore into a Trusted Global Capital for New Asia Media, MDA is committed to creating a vibrant and self-sustaining media financing ecosystem which will play a vital role in ensuring the long term success of Singapore’s media industry.

For several years, MDA has been actively working with local and international players to catalyse the injection of private capital into the media industry.

To date, close to SGD1.3billion worth of media funds have been anchored in Singapore.

Singapore has a sterling reputation as a global financial centre, with a top-notch banking and financial system providing sound business and legal infrastructure for funding. An increasing involvement of our financial community in the media industry shows that Singapore is fast becoming a media financing centre for the region. By 2008, our local media companies had already collaborated with banks, venture capitalists, business angels and private investors in various ventures. This advantage has drawn international, regional and local players alike to base and conduct their global media business and financing activities out of Singapore.

The range of such activities span from the establishment of media funds & funds management, media investments/lending, executive production, packaging, aggregation and distribution, talent management to providing ancillary services such as legal, advisory and financial services.

Examples of media funds established in Singapore to date include:

• A strategic alliance between Imagenation Abu Dhabi, a wholly owned subsidiary of the Abu Dhabi Media Company, Hyde Park Entertainment Group and Media Development Authority (MDA) in 2009 to fund three to four films a year worth an estimated production value of USD 75 million over the next five years. The new venture will also open an office in Singapore serving as the Asian headquarters

• The announcement of a SGD80 million film fund by Singapore-headquartered RGM Entertainment in 2006 to produce six international feature films with Singapore production companies over a two-year period. In 2007, the fund generated projects such as The Girl in the Park, starring Sigourney Weaver and Kate Bosworth; Just Buried, starring Rose Byrne and Jay Baruchel; and Winged Creatures, starring Forest Whitaker and Jennifer Hudson, and directed by Rowan Woods.
• The SGD10 million Raffles China Media Fund in 2007, established by Singapore director Jack Neo’s Neo Studios Pte Ltd, which aims to produce movie projects for distribution in China within the next three years
• In 2007, a USD10 million agreement between Singapore’s Upside Down Entertainment and its US-based financing partner, Cinema Solutions, Inc., to fund two feature motion pictures for the international market.
• Establishment of a USD40-million Europe-Singapore Co-production Fund in 2007 by Six-Six-Eight, supported by MDA and financed by Standard Chartered Bank. The fund aims to match leading European producers and broadcasters with their Singapore-based counterparts to work on 10 to 12 live-action and animation projects over three years.

We welcome fund managers/VCs/investors/financial institutions/executive production companies and international industry players to participate in and contribute to the vibrancy of the media financing ecosystem in Singapore.

Sponsors should (ideally) possess experience in any or all of the following areas:

• Structuring, negotiating and managing international media funds
• Media Financing, Executive Producing, Producing, Content aggregation and distribution
• Fund raising
• Forging strategic partnerships with key industry players internationally

In addition, internationally accomplished / renowned media professionals or thought leaders who possess unique expertise in Interactive & Digital Media fields or media businesses will be considered favourably.

Key considerations for MDA’s participation in any media financing related projects/proposals include:

• Objectives and scope of the Fund/Proposal
• Strategic Partners involved
• Activities to be conducted in Singapore
• Involvement of Singapore media industry players/talents/financial community
• Contribution to Singapore’s GDP (e.g. revenues generated back to Singapore) and jobs created
• Other Strategic benefits and spinoffs to Singapore’s media industry. Examples include skills transfer, market access for local companies, contribution to media financing infrastructure (e.g. attracting executive production activities and ancillary services such as completion bond/legal services), anchoring of strategic projects, and contribution to Singapore’s reputation as a media business and financial exchange.

Business Capability Development

To fuel the growth of local media companies, MDA also facilitates and provides platforms for media companies, industry players and the financial community to meet and explore collaborations.

We work closely with partners such as the Singapore Venture Capital & Private Equity Association, Business Angel Network Southeast Asia, private/public funds, financial institutions and public agencies to raise awareness and interest in media investment opportunities and create networking, business matching, business training / mentorship and investors pitching activities. One example is iMATCH, an innovative platform that facilitates Seed to Series A fund-raising for Media Content and Interactive Digital Media companies by providing a platform for them to pitch and showcase their products and services to investors.

Industry associations, training institutions, professionals / experts in media, business, legal or financing fields who wish to share their knowledge, networks and expertise or look for partners to create or facilitate programmes and initiatives for the media industry are encouraged to write in to us. Assessment criteria for the support of any programmes/initiatives include: relevance and benefits of the programmes to the media industry (i.e. strategic gaps being addressed), experience and expertise of the experts/trainers, objectives and scope of programmes, target deliverables, cost and duration of the programmes.

To find out more or to explore collaborations with Singapore, please contact the Media Financing team at MDA_ID@mda.gov.sg.

For an overview of the Private Equity Funds, Venture Capitalists, Business Angels, Banks/Financial institutions, Incubators and players in the local media financing ecosystem, please refer to the Media Entrepreneur's Guide to Singapore at www.megsg.com

Government Agencies

o SPRING Singapore

o National Research Foundation

Financiers

o BANSEA

o Singapore Venture Capital & Private Equity Association

o BAF Spectrum

o Crest Capital

o Extream Ventures

o Expara IDM Ventures

Media Financiers

o RGM Entertainment Pte Ltd

o Six-Six-Eight Pte Ltd

o Neo Studios Pte Ltd

o Media Development Asia

Banks

o IFS Capital

o Standard Chartered Bank

o OCBC Bank