Q&A: Media Development Authority’s Yeo Chun Cheng

SINGAPORE: Yeo Chun Cheng, the assistant CEO of the industry group at the Media Development Authority (MDA) of Singapore, tells TV Asia Pacific about the organization’s financing schemes and provides an update on Mediapolis, an ambitious media hub that is slated to be fully developed by 2020.

TV ASIA PACIFIC: You recently restructured your financing mechanisms. Can you tell us why this was done, and what effect it will have on producers?
YEO: In September of last year, the MDA revised our funding schemes to better meet the evolving needs of the media industry. In the past, MDA’s funding to local industry players was often in the form of co-investments. This encouraged equity participation and intellectual property ownership by applicants. Our new grant schemes now focus on idea and story development, [improving skills] and the employment of Singaporean talent. [They also focus on] the potential of the media projects to generate…value for Singapore’s industry. With 45 schemes streamlined to just five, companies now find it easier to understand how we can help them. In view of new consumption habits, the funding support for projects that span more than one form of media has now become an even more seamless process. We are seeing a good response. As of September 30, MDA had supported 557 projects and committed $15 million across all five grant schemes.

TV ASIA PACIFIC: You have a number of co-production treaties with other countries already, including Australia and Canada. Are there any markets you’re looking to develop new relationships with in 2013?
YEO: There is a rich source of still untapped potential that we can harvest from the region. For countries like Malaysia, Indonesia and Greater China, there is synergy associated with our cultural affinity and shared histories. With the right partnership and collaboration, this could make for compelling content that transcends the region.

TV ASIA PACIFIC: How is Mediapolis progressing? Can you tell us how this facility will help attract more international media companies to Singapore?
YEO: Mediapolis is on track to be fully developed by 2020. This globally integrated media city of the future will play a key role in positioning Singapore as a home to the future of media and in attracting international players with its wide range of facilities, such as soundstages with green-screen capabilities, digital production and broadcast studios, media schools as well as interactive digital media and R&D facilities. Already, Mediapolis is attracting key media players. Besides the national broadcaster, MediaCorp, which will be locating to Mediapolis in 2015, other international tenants include GlobeCast.

TV ASIA PACIFIC: What are your expectations for ATF and ScreenSingapore this year?
YEO: We have merged ATF and ScreenSingapore, making it a much bigger event. The converged film and TV event promises to attract a much larger contingent from more countries, including Singapore, France, China and Malaysia, as well as attracting new representations from Australia and the United Kingdom. We expect increased international business-collaboration opportunities for all, including over 100 Singapore TV, animation and film companies at the market. This will be the largest Singapore delegation ever. We are also organizing…targeted business matching and networking sessions for international broadcasters and media companies to meet with local media companies at the market.

TV ASIA PACIFIC: What are your overall goals for 2013?  
YEO: The key focus for MDA’s industry development efforts is to strengthen the quality of our local public-service-broadcast programs on local channels, and to build a sustainable and competitive environment for media businesses.

When it comes to growing our local media industry, MDA remains steadfast in continuing support for content, talent and enterprise development, and in working closely with industry partners and associations. We see transmedia as an area of significant opportunity for Singapore companies to build stronger linkages between the different media subsectors such as film, television, animation, games, interactive media, print and music.