The Media Development Authority will boost industry funding by $38 million over five years.
This is on top of $58 million pledged in July to “create a vibrant media city.”
The MDA aims to double media industry input to over 3% of Singapore’s gross domestic product and create 10,000 new jobs in the sector.
With $1.15 billion spent by Singapore’s media businesses in the past year, MDA helped fund 25 new projects in TV, film and digital media; international exposure for over 50 homegrown companies; and training for 3,000 media professionals.
Co-production agreements with New Zealand and France are expected to be finalized soon.