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Singapore rewrites funding rules

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Singapore is to tear down its government film financing infrastructure and replace it with five simplified schemes that cross all aspects of media and entertainment.

The announcement was made this afternoon (Wednesday, 28 Sep) by the Media Development Authority of Singapore in a briefing to the local industry.

The current system involves no less than 46 different MDA-backed support schemes relating to seven different industry sectors (film, broadcasting, music, games, animation, new media and publishing) which the local industry has found difficult to navigate. The film sector alone was eligible to use 14 different funding schemes.

These will now be closed to new applications with immediate effect and replaced with the new industry-wide schemes focussing on development; production; marketing; talent; and enterprise development.

The replacement of media-specific funding with schemes that relate to a project’s development or production status reflects a blurring of the boundaries between modern media and is intended to eliminate the need for separate applications for every component of a multi-media project. The MDA describes this as “being 360 ready”. It also says that it is not seeking to tie content creators to specific pieces of technology, such as 3-D.

 

Read the full story here >>

Via Film Business Asia

Copyright © Film Business Asia Limited

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