Updates from the Asia Media Festival2 min read

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The world’s media industry has descended upon Singapore once again for the annual Asia Media Festival, with delegates from over 50 countries taking part in over 30 events covering television, broadcasting, film, animation, advertising and digital media.

This spells good news for the local media industry as though-provoking forums and talks spur the filmmakers of the region, while new deals are inked for local and international film projects.

MediaCorp Raintree Pictures‘ managing director Daniel Yun at a panel discussion yesterday drove home the point that Asian films need to cross cultural barriers. Addressing the challenges that faced the region’s film producers, Yun pointed out the need to develop new movie languages that are borderless.

Raintree’s Home Song Stories was one such example — it was a partnership between local and Australian filmmakers, funded by private investors — and is currently in the running for 14 nominations at the Australian Film Institute Awards.

“We are not about making Singapore films by Singapore for Singapore. A lot of filmmakers are not making films for Hong Kong or for Japan of for China specifically. Actually, it is an Asian movement,” said Yun.

He added that many local filmmakers have little option to work in Singapore and look elsewhere — so producers must know their goals and markets when making the films. Upside Down Entertainment‘s executive producer Chen Gin Kai also pointed out that Singapore’s industry is young, and thus growing it is a task companies have to deal with.

“Sometimes what people look at is not just whether you are talented, but also how experienced your industry is,” said Chen.

Upside Down Entertainment has just inked a deal worth US$10 million (S$14.4 million) with financial partner Cinema Solutions to fund two motion features for international markets.

Cinema Solutions is a US-based film finance company which provide up to 80 per cent of the funds needed.

The two films slated to receive the funds are romantic comedy Accidental Love, and an adventure thriller titled Sky Pirate. Both features are in English, and will be filmed primarily in Singapore, with a mix of Western and Asian stars.

Singapore adds to its recent spate of international deals with the signing of a memorandum of understanding (MOU) with The Philippines yesterday. The MOU is intended to spur greater collaboration between the two countries’ media industries, and was inked by Dr Tan Chin Nam, Permanent Secretary at the Ministry of Information, Communications and the Arts and Chairman, Media Development Authority of Singapore, and Ignacio R. Bunye, Press Secretary of The Philippines Office of the Press Secretary.

“The world is witnessing at unprecedented interest in Asian culture and media content,” said Dr Tan. “There is thus great potential and promise for ASEAN nations to leverage our collective culture capital for the regional and global markets.”

Sources: Channel NewsAsia, Variety Asia & World Screen