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Japan to Fund 10 Billion Yen to Promote Content Abroad

posted on 2010-04-01 06:00 EDT
Project hopes to boost overseas revenue of Japanese content to 2.5 trillion yen

The Nikkei.com website reported on Monday that the Japanese government is working with the private sector to set up a 10 billion yen (about US$110 million) fund to support the spread of Japanese anime, movies, and music abroad. The Innovation Network Corporation of Japan will provide the financing for the new fund, which will be used to secure ways to distribute content overseas.

The goal for the project is to boost the foreign revenue for Japanese content from 1 trillion yen (US$10.69 billion) — the level in 2008 — to 2.5 trillion yen (US$26.73 billion) by 2020. Heading the panel that is drawing up the strategy is Japanese Prime Minister Yukio Hatoyama, along with the Intellectual Property Policy Headquarters. This panel was expected to approve an outline of the plan on Tuesday.

In an initiative to also promote foreign studios shooting films in Japan, the government is also considering instituting tax breaks on costs for domestic production.

Thanks to Kenneth Cukier for the news tip.


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