Singapore Media Festival Records $256.28 Million in Sales
The event's film and TV market attracted a record 4,836 attendees and 1,281 companies, reflecting broader growth in Asian entertainment
The Singapore Media Festival's content market — which was held jointly by the Asia TV Forum & Market (ATF) and Screen Singpaore from Dec. 10-12 — attracted record numbers of attendees and exhibitors, resulting in $256.28 million in sales deals, organizers reported.
This year's market drew 4,836 attendees and 1,281 exhibiting companies, a 10-percent increase over the participation totals for 2013.
“This has been our most successful edition of ATF and ScreenSingapore to date, and aligns with Asia’s growing importance in the global entertainment content landscape," said Yeow Hui Leng, senior project director for Reed Exhibitions, the company behind the event.
This year, the ScreenSingapore and ATF market were held under the umbrella banner of the inaugural Singapore Media Festival, which also included the newly revamped Singapore International Film Festival and Asian Television Awards. The market was held at Singapore's flagship event space, Marina Bay Sands Casino and Convention Center.
Varavuth Jentanakul, CEO of Thailand's Zense Entertainment, a first-time attendee said his company had a productive outing at the event.
“At ATF we experienced the energy and exposure of a truly international content market," Jentanakul said. "We are closing a new package deal with Endemol, which includes two new great shows: Your Face Sounds Familiar, to be on air on Channel 7 later next year, and Singer Takes It All. We are also exploring the possibility of acquiring a large-scale format from Shine.”
Among the most notable deals to emerge from Singapore was the announcement of $100 million media fund launched by Chinese studio Bona Film Group, Singapore private equity investment firm Tembusu Partners and local media entrepreneur Calvin Cheng. The Singapore-based fund creates an avenue for select international parties to invest in China’s booming but tightly regulated media and entertainment industry.
Several Asian networks purchased formats from various international sellers at the market, including sales by U.S. studio Electus to VTV in Vietnam, which will air a local version of Electus format Bet on Your Baby, while China’s Dragon TV re-commissioned the studio’s Fashion Star format. Meanwhile, Keshet International’s spy drama MICE (Money, Ideology, Coercion and Ego, also known as The Gordin Cell) sold for remake to the Korean Broadcasting System (KBS). It will air in early 2015.
Fox International Channels (FIC) announced a strategic partnership with Chinese Internet giant Tencent to make over 300 hours of programming and documentaries from National Geographic Channel (NGC) available in China in 2015. The companies also said they plan to co-produce China-focused programming.
“This is our second year at ATF and ScreenSingapore, which gives us a great opportunity to meet and extend content to Southeast Asia and other parts of Asia, especially in our key markets such as China, Malaysia and Singapore," said Woody Kim, a senior manager at the Korean Film Council. "We’re happy that we made some new friends at the event, and we look forward to next year’s edition.”