CONTENT AND MEDIA
Singapore's media sector has grown by 150% in the past 5 years. In 2013, the industry contributed S$8.9 billion in value-added (VA) and S$33.1 billion revenue to the economy, and employed approximately 76,400 workers. The vibrant Content & Media sector in Singapore consists of several industries, including media owners, games, animation, visual effect and publishing. A broad spectrum of creative, digital, and business activities are also undertaken in Singapore such as, creation of international and regional content, publishing platform operations, digital product development and headquarters activities.
Aside from the strong media verticals that Singapore has built up over the years, Singapore’s strong connectivity, presence of eco-system partners across research, technology partners and other media partners allows for content companies to develop and execute their content strategies from Singapore.
Interactive and Digital Media – which includes video games, animation, online/mobile media and new forms of digital entertainment – has skyrocketed into a multi-billion dollar business. The global videogames industry (excluding hardware sales) is expected to grow healthily through to 2019. According to PwC’s Global Entertainment and Media Outlook report, total revenues from video games will hit US$93 billion by 2019, representing a 5-7% CAGR over a 5-year period from 2015. Asia, in particular, will register the highest growth rates of any region.
To tap on the growth of Asia, globally renowned companies such as Koei Tecmo, Lucasfilm, Ubisoft, and Bandai Namco Studios have established substantial operations here. Similarly, local companies like Sparky Animation, Scrawl Studios, and Witching Hour Studios are creating compelling content for the region.
Three of the five fastest growing markets for content are in Asia, – China, India, and Indonesia. PwC estimates that these three will grow at CAGRs of over 12% from 2015 – 2019. Singapore offers proximity and excellent connectivity to regional markets that have a tremendous appetite for digital media entertainment. As a cosmopolitan, urbanised Asian city-state, Singapore also offers a unique blend of Eastern and Western cultural influences. We have developed world-class talent, infrastructure, and research capabilities to ensure that Singapore continues to be an effective partner for content and media companies.
Singapore has a strong pool of local talent. Public institutions such as the National University of Singapore, Nanyang Technological University, Nanyang and Singapore Polytechnics, as well as specialty schools such as the DigiPen Institute of Technology offer various programmes in games, animation, and visual effects. These programmes equip students with the ability to create high-quality content for global audiences, and supply companies with a pool of strong talent for their operations in Singapore.
Singapore is an ideal location for creating and deploying new content due to the strong intellectual property (IP) laws and multilingual talent pool in both traditional and new media. Development and animation studios, and companies which provide game hosting also find Singapore attractive due to the island’s large pool of graduates in IT and programming. For companies in the publishing sector, Singapore is a nexus for Asian financial and professional news, and a cost-effective printing and distribution hub.
Singapore has also created a vibrant and innovative R&D environment to develop cutting-edge research talent and media technologies. I2R (The Institute for Infocomm Research) developed the Scalable Multimedia Platform which requires just a one-time encoding of media files into a single, scalable file. This platform allows content owners to deliver their videos seamlessly across devices.
To enable greater engagement and collaboration between key players in the public and provate sector, Singapore has developed a cluster in the one-north district, to house content and media companies across the entire value chain, from pre- to post-production, content creation, and distribution; research institutes focused on infocomms and media technology; and specialist schools. The cluster is embedded within two physical complexes – Fusionopolis and Mediapolis.
FACTS AND FIGURES
- The size of Singapore’s media industry stood at over S$33.1 billion in revenue in 2013.
- In 2013, the industry employed more than 76,400 people and contributed S$8.9 billion in value-added.
- Singapore is the hub of media owners in Asia. Major international cable and networks such as FOX Networks Group, Discovery, HBO, MTV, Sony Pictures Entertainment, NBC Universal and CNBC all have regional headquarters in Singapore. Demand from the international media owners based here has also helped to nurture a healthy TV production industry.
- Singapore has established a significant and stable publishing industry. In the publishing industry, top companies like McGraw-Hill Education, Pearson, John Wiley & Sons, and Reed Elsevier leverage on Singapore's experienced talent base and strong connectivity to manage business interests for the region.
- A new generation of local filmmakers are casting Singapore’s film industry into the international limelight. In 2013, director Anthony Chen won the Camera d’Or at the Cannes Film Festival for his feature film, Ilo Ilo, adding yet another highlight to a vibrant Singaporean film scene. Works by directors such as Eric Khoo, Royston Tan, and Boo Junfeng have also garnered regional and international acclaim.