Liberty Media and Formula One executive Chase Carey, Raine Group partner Joe Ravitch, and Uday Shankar, Disney’s chief in Asia, are among a group of entertainment industry heavyweights convened by the Singapore government to form the Media International Advisory Council.

The MIAC is intended to be a think tank that meets once a year and advises on the development of the industry in Southeast Asia.

The first session met behind closed doors in Singapore on Monday with Minister S Iswaran chairing the session. The members will serve a two-year term before being rotated.

Comprising global media industry leaders, the MIAC members offer their expertise to help companies forge new models of partnership, content creation and financing to seize the rising opportunities in Asia. The Asian content industry is forecast to grow to $4.4 billion by 2024.

Other members include: Alvin W. Sariaatmadja, president director, Elang Mahkota Teknologi (Indonesia); Bill Holmes, chief business development officer, Netflix (U.S.); Chatri Sityodtong, chairman, and CEO, ONE Championship (Singapore); Gong Yu, founder and CEO, iQIYI (China); Janice Lee, MD, PCCW Media Group (Hong Kong); Li Ruigang, chairman and CEO, CMC Capital Group (China); Robert Gilby, CEO, Blue Hat Ventures (Singapore); and Vivek Couto, executive director, Media Partners Asia (Singapore).