MDA to inject S$250 million into industry in 2009

Aim is to sustain media sector, as worldwide economic slowdown continues into the year.

THE Media Development Authority (MDA) estimates that the Government will spend S$250 million this year to sustain the growth momentum of Singapore's media sector amidst the economic downturn, it said at its annual Media Business Forum yesterday.

This spending, which includes funding from the National Research Foundation to boost research and development in interactive digital media, as well as support for public service programmes, is projected to support about 2,000 jobs when the projects come onstream in the coming year.

Through the exercise, MDA will help fund and co-develop high-value and exportable content and applications to jumpstart activities in the sector.

Key areas include the ever-widening range of digital platforms, including Internet protocol TV, mobile TV and 3D TV, which MDA believes have an excellent chance of success as content becomes increasingly digitised.

The first wave of projects was called at the event yesterday, including one called "360° TV", where MDA requested for original TV concepts that leverage various digital media distribution avenues and partnerships.

The MDA is also calling for proposals to transform Singapore into a digital music hub, which will build the ecosystem needed to develop music services to support content productions.

More such calls for proposals can be expected this year. Said Dr Christopher Chia, MDA's Chief Executive Officer: "Media is one of the fastest-growing sectors in the world, and the performance of Singapore's media sector reflects our potential to benefit from the worldwide movement."

Besides calls for proposals, MDA is launching a new Media Training and Attachment (META) scheme, which emphasises hands-on experience through attachments to projects or established organisations.

For details, please refer to www.smf.sg