HONG KONG – The film and TV industries of Taiwan contribute US$5.5 billion (NT$163 billion) to the territory’s GDP, according to new research.
The data, put together by research house Oxford Economics, showed the screen entertainment industries supporting 114,000 jobs and generating $543 million (NT$16 billion) in tax revenues.
The report, backed by the Motion Picture Association, was released in Taiwan on Tuesday. Mike Ellis, the MPA’s president and managing director, Asia Pacific, also met with Taiwan’s Vice President Wu Den-Yih.
“This report is a timely reminder of the value the screen entertainment sector brings to Taiwan. It is an industry abundant with local talent, drive and creativity, and promises much future success – if creative content can be sufficiently protected,” Ellis said.
Significantly, the data showed the value of the free to air and pay-TV sectors to be roughly ten time bigger contributors to GDP than the island’s film business. And within film, Taiwan’s exhibition and distribution segments were also significantly larger than the production and post-production businesses, ratios which reflect Taiwan’s still small domestic film-making industry and the predominance of imported content in Taiwan theaters.
“We are fortunate that creativity and modern technology are combining to provide great opportunities for growth in the digital screen sector. However it is important that creative work is respected and that copyright continues to play a vital role in stimulating innovation and new storytelling,” said director Kevin Chu Yen-ping in a prepared statement.