Singapore set to splash more cash on games?

City-state's media development funds have more money for co-financing film, TV and gaming projects
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City-state's media development funds have more money for co-financing film, TV and gaming projects

A report on Variety says that authorities in Singapore are further looking to turn the country into Asia's hub of entertainment development thanks to the many funds available to those in the film, TV and games industries.

In May, Singapore's Media Development Agency, said there's a total of S$500 ($385 million) available for film, TV and games development across 13 funds based in the country.

Since then, it has Australian talent management agency RGM Entertainment has also established a large fund for entertainment projects in the region.

Outsourcing is already a key part of the games development business, but Singapore's moves could extend that further, tempting more studios to set up in the city state.

Ubisoft, Koei and LucasArts already have teams in the city, but could be joined by more - or get more media agency funding for their own projects going forward.

It's especially attractive in the midst of an economic crunch, Variety points out.

"The Economic Development Board and the MDA are very generous in their approach to companies that have an interest in Asia. And they are very flexible in the way they allow you to structure the funds," the piece quotes Ashok Amritraj, head of Los Angeles-based Hyde Park Entertainment, as saying. "They have made Singapore a safe, clear haven in these crazy times."

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Factfile: Singapore

SingaporeĆ¢??s games industry is relatively small compared to other Asian markets Ć¢?? no surprise given that it is one of the only three city states in the world with a population under 5m.