Singapore is launching a new fund to support international coproduction of TV series. It will also expand government investment into virtual production (VP).
The two moves were announced on Wednesday by senior minister of state for communications and information Tan Kiat How at the opening ceremony of the Asia Television Forum and Market (ATF).
Tan said that the S$30 million ($22.4 million) co-production fund will be open to Singapore-based companies with a track record in long-form content production. It aims to support productions with local flavor and international appeal. An initial call for project submissions will be open until the end of January.
The new funding for VP sees S$25 million ($18.7 million) allocated over the next three years and top up an initial S$5 million of seed funding established this time last year. Both funds will be administered by the InfoComm Media Development Authority.
Some 20 projects tapped into the initial VP funding allowing some 300 professionals to get hands on experience of the new technology, which is situated between faming and filmmaking and involves projection of high resolution background images in a studio where actors are performing.
Among the projects that used the available cash were Mediacorp’s “once Upon a New Year’s Eve,” which used VP to recreate historical monuments including the Singapore National Theatre and the old National Library on Stamford Road.
The country currently has two companies Oceanus Media Global and Aux which operate VP hardware and provide services. The two are now expected to upgrade their facilities and be joined by Nanyang Polytechnic.
Singapore already has a range of co-production support mechanisms including bilateral treaties and soft money pools, such as the IMDA’s Media Talent Progression Programme, and the Singapore On-Screen Fund, that local producers can access. In the feature film sector, recent pictures “Tiger Stripes,” “Inside the Yellow Cocoon Shell” and “Ajooma” have been structured as Singapore co-productions.
