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Japan to Create Fund to Boost Anime & More Overseas

posted on by Egan Loo
Fund to expand Japanese media's overseas licensing market, investments

The Japanese government is establishing a tentatively named Contents Overseas Development Fund to support the expansion of Japanese media — particularly Japanese animation and films — around the world. The government is planning to invest money from the "Industrial Reform Organization" (a larger joint private/public fund being established in July) and other sources to launch the development fund this fall. The fund will promote overseas expansion in license acquisitions from domestic production companies and creators, as well as investments in overseas production companies.

According to Japan's Cabinet Secretariat, overseas revenues accounted for 1.9% of the Japanese media industry's overall revenues in 2004, compared to 17% for the American media industry. The Ministry of Economy, Trade and Industry plans to raise the percentage of overseas revenues so that it rivals what the American media industry earns abroad.

The fund is part of the larger strategy that the government is forming to promote Japan's "brand." Prime Minister Tarō Asō promised last month to add 4 million jobs in his country by 2020, with 500,000 coming from the country's so-called "soft power" in anime, manga, and similar areas of culture.

Source: Jiji.com

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