Singapore Accelerates Global Media Ambitions with New Initiatives

Singapore is intensifying its efforts to attract major international studios and streaming platforms, aiming to produce content that resonates with global audiences. Senior Minister of State for Digital Development and Information, Tan Kiat How, emphasized the importance of this strategic push during an interview with Channel News Asia on December 4, 2023. He cautioned that without these initiatives, Singapore risks losing its competitive advantage in the global media landscape.

As digital consumption evolves, audiences are engaging with content across various platforms, including cinemas, televisions, and mobile devices. The emergence of new technologies, particularly artificial intelligence, is transforming how narratives are created, produced, and distributed. Mr. Tan referred to this shift as both a challenge and an opportunity, highlighting the rising demand for diverse storytelling. “There are new desires for interesting stories to be told,” he noted, pointing out the growing interest in non-Western narratives.

To capitalize on these opportunities, Mr. Tan recently introduced the Talent Accelerator Programme (TAP), a significant initiative aimed at fostering globally appealing stories. Announced on December 3, 2023, at the Asia TV Forum and Market 2025, this S$200 million program will span three years and aims to position Singapore as a co-production hub. It will provide structured career pathways for talent at various levels, offering mentorship and masterclasses from industry veterans and international experts.

One of the key trends noted by Mr. Tan is the increasing global appetite for Asian content. He referenced successful productions such as the South Korean series Squid Game, the Japanese anime Demon Slayer, and the Chinese animated film Ne Zha. “There’s a desire for Asian content, so that fits our strength,” he stated, emphasizing Singapore’s strategic location as a cultural bridge between East and West.

To fully leverage this position, Mr. Tan advocates for a broader understanding of what constitutes “Singapore content.” He stressed that it is not solely about narratives developed by Singaporeans; instead, he envisions a “made with Singapore” approach that involves collaboration with global partners while integrating unique Singaporean talent and creativity.

The rise of micro-dramas is another notable trend in the media industry. These short, episodic videos have gained immense popularity, particularly in China, where their revenue has reportedly surpassed that of traditional box office earnings. “Even our players who are in the more conventional, traditional space are embracing new formats and new technology,” Mr. Tan explained, underlining the need for adaptation in the face of changing viewer preferences.

Technological advancements are also influencing production workflows. Virtual production tools enable filmmakers to create digital environments, significantly cutting costs and expanding creative possibilities. Mr. Tan believes these innovations could enhance Singapore’s competitiveness in the global market.

While acknowledging the existing gaps in Singapore’s media ecosystem, Mr. Tan was candid about the challenges faced. “We cannot compete on cost. We are not the cheapest place for filming,” he said. Instead, he emphasized Singapore’s focus on providing high value and unique capabilities that set it apart from regional competitors.

The ongoing Singapore Media Festival serves as a testament to the country’s growing relevance as a hub for creative collaboration. Mr. Tan noted that Singapore’s reputation as a neutral and trusted partner makes it an attractive destination for global studios seeking to co-produce content tailored for Asian and international audiences. “We are a trusted platform to bring together international players,” he affirmed, highlighting the potential for innovative projects to emerge.

Looking to the future, Mr. Tan believes Singapore has a crucial, time-sensitive opportunity to solidify its status as a global media innovation hub. He warned that failing to act swiftly could jeopardize the country’s relevance and competitiveness against other markets vying for similar recognition. “If we don’t seize this opportunity, we will lose out in terms of relevance and our competitiveness,” he cautioned.

Ultimately, he underscored that Singapore’s success in this arena will depend on collaboration, creativity, and the ability to leverage its unique strengths. “We are not competing on cost; we are competing on value, capabilities, and trust,” Mr. Tan concluded, urging stakeholders to harness these assets to propel Singapore’s media industry forward.