23 March 2007
Hong Kong Emerges as Asia's Entertainment Hub
International Survey Results Released at FILMART 2007
March 23, 2007 - Hong Kong has become the most popular trading centre in Asia for entertainment content, according to an industry survey of exhibitors and buyers at the Hong Kong International Film & TV Market (FILMART) and the Hong Kong-Asia Film Financing Forum (HAF).
A total of 332 industry players from around the world were interviewed, face-to-face, about market and industry trends in the global entertainment industry. More than 50 per cent of the respondents said they had acquired entertainment content from Hong Kong in 2006. The Chinese mainland, Japan, Korea and Thailand, respectively, followed Hong Kong in terms of content acquisition.
Over the next 12 months, even more respondents indicated that they would source entertainment from Hong Kong. They also cited Hong Kong as the best place to reach out to the mainland and other Asian areas in exploring co-production opportunities and meeting buyers.
The survey indicated that more television professionals plan to expand their business in Hong Kong (86 per cent) and the mainland (90 per cent).
The Hong Kong-Asia Film Financing Forum (HAF) was noted by survey respondents as a useful means of finding investment for film projects. Korea's Pusan Promotion Plan and Japan's Tokyo Project Gathering were also mentioned as preferred film investment events in Asia.
Respondents were particularly bullish about the growth potential of the digital entertainment sector. About 90 per cent of the respondents said digital entertainment had the greatest growth potential, followed by television (78 per cent) and film (68 per cent).
The Chinese mainland has the biggest growth potential in the film, television and digital entertainment sectors, according to the survey respondents. They also said that action/kung fu movies are still the most popular genre in Hong Kong, followed by comedy, drama, horror and animation.
More than 80 per cent of the respondents agreed that cross-media convergence will bring more business opportunities to the entertainment industry. They regarded the convergence of film and digital entertainment as having the strongest growth potential in the next 12 months.
As for the Hong Kong film industry's hottest filmmakers and stars, survey respondents had this to say:
- Most sellable Hong Kong actresses (in alphabetical order): Maggie Cheung
(張曼玉), Charlene Choi (蔡卓妍), Carina Lau (劉嘉玲), Angelica Lee Sin Je (李心潔), and
Michelle Yeoh (楊紫瓊)
- Most sellable Hong Kong actors (in alphabetical order): Jackie Chan (成龍),
Chow Yun Fat (周潤發), Andy Lau (劉德華), Tony Leung Chiu Wai (梁朝偉), and Jet Li
- Most sellable Hong Kong film directors: Jackie Chan (成龍), Andrew Lau Wai Keung (劉偉強), Johnnie To (杜琪峰), John Woo (吳宇森), and Derek Yee (爾冬陞)
The survey was conducted by an independent research company and commissioned by the Hong Kong Trade Development Council (TDC).
FILMART and HAF, two of Entertainment Expo's core events, opened March 20 and conclude today at the Hong Kong Convention and Exhibition Centre. Entertainment Expo continues until April 15.
FILMART was organised by the TDC. HAF was co-organised by the TDC, the Hong Kong International Film Festival Society and the Hong Kong, Kowloon & New Territories Motion Picture Industry Association Ltd.
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Established in 1966, the Hong Kong Trade Development Council (TDC) is the international marketing arm for Hong Kong-based traders, manufacturers and service providers. With more than 40 offices worldwide, including 11 in the Chinese mainland, the TDC promotes Hong Kong as a platform for doing business with China and Asia. The TDC also organises trade fairs and business missions to connect companies with opportunities in Hong Kong and the mainland, while providing information via trade publications, research reports and online. For more information, visit www.tdctrade.com