Startups willing to explore Singapore’ss entertainment industry can focus on their service quality without having any second thought about the future of digital entertainment here
There was a time when people used to consider television as their only source of entertainment. Every day after returning from work, they would spend hours sitting in front of TV changing different channels. It worked as a stress-buster and helped them relax.
That time is over now!
Today with terabytes of data stored in your hard-disk and large smartphones supporting high-speed data browsing in the pocket, you don’t have to sit at one place for entertainment. You can move around and watch your favorite TV shows and movies while on the go.
All the countries are trying their best to adapt to this revolutionary change in the entertainment field; however, not many of them are able to match up with the pace at which Singapore’s digital entertainment industry is growing.
Looking at the current speed at which the digital entertainment landscape in Singapore is developing, there is no doubt it will become a global leader in the next few years.
Here are top four reasons supporting this fact:
1. Strategic geographical advantages
Singapore is one of the best cities in the world for marketers, content creators and brands seeking to explore digital entertainment field. Since it’s located in the heart of the sea lanes of Southeast Asia, experts consider it a fantastic gateway between Western and Eastern cultures.
You can easily find people speaking English, Mandarin, Malay and Tamil languages in Singapore, which shows the perfect geographical blend this country presents in front of everyone.
The current multicultural landscape makes it a perfect incubator for creativity, ideas and most importantly global business mindset, which is essential to grow in the digital entertainment field.
A study predicts that about 194 million new internet users are going to emerge in the ASEAN region between 2010 and 2020, and with its present infrastructure Singapore seems to be an ideal place for brands to serve them.
2. High-profile digital entertainment companies are here, too
Gone are those days when only Silicon Valley was considered a startup hub. Looking at the current growth rate of the digital entertainment industry in Southeast Asia, all major companies are slowly moving into Singapore.
Some of the most prominent names that have entered Singapore recently include Fox, Disney, HBO, Double Negative, Discovery, Lucasfilm, and Ubisoft. More than 7,000 small and large media companies have already set up their offices in Singapore. This number is likely to go past 10,000 by the year 2020.
Netflix, the global digital entertainment leader, has already firmed its presence in Singapore region. Its subscription-based business model has received a positive response, which has prompted other startups to come up with a similar business idea.
Compared to the funding trends of 2010 and prior, today investors are ready to invest in digital entertainment startups as long as they have a solid product and sustainable business model. This trend is likely to grow in the coming months.
3. Rising mobility in the region
It’s not a unique fact as the number of smartphone users is rapidly growing across the globe. However, with the current trend in Singapore digital entertainment startups can be assured of gradual growth. People have large screen smartphones in their pockets and prefer to watch their favorite shows and movies while on the go. With services like Viki, Showbox, Hooq, iflix, etc. along with Netflix and YouTube they don’t have to worry about anything at all.
This trend is going to continue in the coming months. So, startups willing to explore Singapore’s entertainment industry can focus on their service quality without having any second thought about the future of digital entertainment here.
4. Vibrant startup community
Among many other reasons Singapore is famous for, one is its startup culture. Lately, the number of startup events and conferences taking place in different parts of the country have increased by a significant margin.
With this kind of exposure, it has become easier for new-age entrepreneurs to learn from those who have already made a mark in the respective field.
Besides, these conferences and startup events present a unique opportunity to discuss ideas and possibilities with industry experts, making it a lot easy for newcomers to work on them and build reliable products. This is one of the main reasons why Singapore has managed to maintain a constant pace when it comes to startup growth in the last 5-10 years.
Going forward, this very fact will help many digital entertainment startups to initiate operations here.
It’s going to be a great time ahead as many new opportunities for young entrepreneurs wanting to explore Singapore’s digital entertainment industry will emerge in the coming years. If you want to forge ahead, this is the perfect time to take a plunge in this direction.
What’re your views on Singapore’s startup culture? Share your feedback in the comments section below.
Editor’s note: e27 publishes relevant guest contributions from the community. Share your honest opinions and expert knowledge by submitting your content here.
Featured Image Copyright: scanrail / 123RF Stock Photo
The post Singapore is a perfect place for digital entertainment startups, and here are 4 reasons why appeared first on e27.