ROOM FOR IMPROVEMENT, LOOKING AHEAD
Acknowledging gaps in Singapore’s media ecosystem, Mr Tan was frank about the country’s limitations.
“We cannot compete on cost. We are not the cheapest place to do filming, or a place where you can find locations in which the production is the cheapest, but we are competing on value. We are competing on capabilities that you may not be able to find anywhere else in the region,” he said.
“(It’s with) this mindset (and with) TAP to bring the ecosystem together – from project development to production, distribution, marketing, IP financing and a business environment.”
The momentum at this year’s Singapore Media Festival, for example, points to the country’s growing relevance as a hub for regional and international collaboration, Mr Tan added.
He added that Singapore’s position as a neutral and trusted partner makes it an attractive destination for global studios seeking to co-produce content for Asian and international audiences.
“We are a trusted platform to bring together international players … to let the sparks fly, and to bring projects from ideas to the screen,” he said.
Looking ahead, Mr Tan believes Singapore has a critical but time-sensitive window to cement its role as a global media innovation hub – but he warned that failure to act quickly could have consequences.
“If we don’t seize this opportunity … I think we will lose out in terms of relevance and our competitiveness, vis-a-vis many other jurisdictions and markets that also want to be in a similar position,” he noted.
Mr Tan said that ultimately, Singapore’s success will depend on collaboration, creativity and the ability to leverage its strengths.
“We are not competing on cost – we are competing on value, capabilities, and trust, and we have to make full use of these assets,” he added.