For several years, the Media Development Authority of Singapore has been actively working with local and international players to catalyse the injection of private capital into the media industry. To date, some S$1.5bn ($1.1bn) of media funds have been anchored in Singapore, adding to the attractiveness of Singapore’s media ecosystem. Private sector financing is essential to spur the growth of the media industry.
At the same time, the media sector offers the potential to generate lucrative returns for its investors. The anchoring of media funds here also attracts auxiliary support services, such as entertainment lawyers, completion bond companies, sales and distribution companies, to base themselves in Singapore to service the region. There is potential for Singapore to play a major role in financing media projects in the region as Singapore already enjoys a reputation as a global financial centre.
Notable funds set up in Singapore include the recently announced S$100m Gobi China-Singapore Media Ventures Fund, targeting early to growth-stage companies in the digital media and technology sectors in Singapore and China. Other funds available to the industry include the $75m MDA-Hyde Park-Imagenation alliance, a $20m Production Fund by Singapore’s Infinite Frameworks and a $70m Integrated Media Fund by Salon Media Management, a Singapore-based subsidiary of the Salon Film Group in Hong Kong.