Asia’s Media Industry on the Rise Despite Economic Slowdown

"Despite the global economic slowdown, Asia’s media industry is in for an exciting phase."

The facts bear out this claim by Mr Lui Tuck Yew, Singapore’s Acting Minister for Information, Communication and the Arts, at the opening of the 10th Asia Television Forum (ATF) 2009.

The region’s media consumption continues to grow, as subscriptions to TV services have risen 10 per cent in the last year. Western producers increasingly look to Asia for opportunities, fresh ideas, capital and markets, given the relative strength of economies here.

On the home front, there are more film and television co-productions, where international companies harness Singapore capabilities to produce quality TV programmes.

Mr Lui predicted that international co-productions will play a larger part in the growth of Singapore’s media industry, noting that in 2009, “our television co-productions have grown to more than $10 million”.

ATF 2009 itself bears witness to the strength of the region’s media industry, with 4,000 broadcasters, distributors, buyers, sellers, financiers and producers participating – an 8 per cent growth over ATF 2008.

The ATF is the anchor event of the Asia Media Festival, held from 2-4 December this year at Singapore’s Suntec City Convention Centre.

Mr Lui then toured the Singapore Pavilion for a foretaste of things to come. With its theme of stereoscopic 3D, the pavilion literally showed how Singapore is moving towards the next-generation technology, in both production and post-production of content, screening stereoscopic 3D clips, and a 3D rig where visitors could see themselves in 3D.

Dr Christopher Chia, CEO, Media Development Authority of Singapore (MDA), noted that while 3D technology has been featured in films, the technology has not yet come to the small screen. By embracing 3D as a new business opportunity, Singapore companies are placing themselves well to ride what could be the next big wave.

Indeed, one local player sees possibilities for the technology going beyond television.

“ST Electronics supports Singapore’s aspirations to be a leading Asian hub in digital media. We are actively building our capability in 3D stereoscopic production,” said Mr Eric Chan, Senior Vice President/General Manager, ST Electronics (Training & Simulation Systems). “Taking this technology beyond the entertainment industry, our objective is to apply these 3D capabilities to provide more immersive and engaging experiences in our applications and offerings in simulation, animation, games and edutainment.”

For more information, go to www.asiamediafestival.com

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