HONG KONG – The Singapore government is to set up a $6.5 million fund to help the development of the 3D film industry.
Move was announced Wednesday by Lee Boon Yang, minister for Information, Communication and the Arts on the opening day of the inaugural 3DX, the 3D film and entertainment technology festival.
“We will put together a 3D development fund of at least S$10 million ($6.55 million) to support content projects, 3D infrastructure, production and post-production facilities and training initiatives for 3D film makers over the next two years,” Lee said. “The Media Development Authority will work closely with broadcasters, content producers and innovative media companies who share our interest and enthusiasm for 3D content.”
Lee confirmed that part of the fund would be tapped by Komodo Films, a company headed by genre film-maker Brian Yuzna and partners in Indonesia that will produce a slate of 3D movies (Variety, Nov 8, 2008.)
MDA funding may also be available to another Singapore company, Iceberg Pte, that is poised to be the first media player in Singapore to upgrade its post-production facility with stereoscopic 3D capabilities.
Lee said that government would aim to create a permanent facility for 3D production in Singapore. “We have earmarked a piece of land at One-North for media infrastructure: sound stages, digital production, video & audio post-production labs, visual effects facilities and rendering farms. This will be a private-public endeavor. The Government will provide the basic infrastructure and private developers will be invited to build and operate the media support facilities,” Lee said.
Lee described the potential for 3D as “immense” and pointed to twenty 3D movies in the pipeline in Hollywood while also suggesting use of 3D in other related entertainment spheres, and further afield such as sports, military training, medicine and digital advertising.
Festival was also venue for announcement by Disney of a slate of 12 3D movies that will be released within the next two years, and a five film deal between Disney and IMAX (Variety, Nov 19, 2008).