New Age of Cinema Rises in Asia
The rise of Asian cinema is evident through its global box office performance and critical acclaim. The Hong Kong Film Development Council (HKFDC) adds further momentum to the industry with new funding initiatives to support the region’s filmmakers.
Since its establishment in 2007, HKFDC has advised the Hong Kong government on policies driving the promotion and development of the city’s film industry, and administered the Film Development Fund (FDF). Over the years, the FDF has financed numerous projects such as Jack Ng’s A Guilty Conscience and Time Still Turns the Pages directed by Nick Cheuk, as well as A Light Never Goes Out – selected to represent Hong Kong for the Best International Feature award at the upcoming Oscars. It has also supported major industry events such as the Hong Kong Film Awards and the Asian Film Awards.
The introduction of the Hong Kong-Asian Film Collaboration Funding Scheme in late 2022 aims to provide more opportunities for the region’s talent. In 2023 the scope of support for Hong Kong filmmakers widened to include European partnerships with the launch of the Hong Kong-Europe-Asian Film Collaboration Funding Scheme. Dr Wilfred Wong, Chairman of HKFDC says, “Since there are no restrictions on the language used in the film, shooting locations nor the genres of films for the scheme, the applicants and the overseas filmmakers/film organisations could easily reach the main objective of this scheme, which is to enhance cultural exchanges. We hope both sides of the crews can learn from each other, broaden their visions on filmmaking through actual collaboration.”
In the first phase of the scheme, Wilfred has already received entries from major industry players like Korea and Japan in addition to ones from Malaysia and Thailand. So far, 23 applications have qualified for selection and the final results are due in early 2024. “The response from Japan is positive. I understand that some Hong Kong teams have flown to Japan to meet the relevant partners for collaboration opportunities. I know that local film bodies like UniJapan and VIPO, have helped us a lot in promoting our schemes to their fellow filmmakers,” the re-appointed Chairman added.
Dr Wilfred Wong, Chairman of HKFDC
Another HKFDC programme that also opened for submissions in 2023 is the Content Development Scheme for Streaming Platforms. Its objective is to nurture cross-sectoral production teams to develop quality shows on streaming platforms. This scheme runs in the form of a competition where teams are invited to develop content for a streaming platform series. Each winning team is awarded up to HK$5.7 million (US$0.72 million). Competition is fierce as only four teams can receive funding.
“We have received 56 valid applications and are in the process of assessment. The industry is responding positively towards our plan. In fact, we have attracted some industry heavyweights who also submitted their applications. This is immensely encouraging. I look forward to reading their scripts, and even more so for seeing the final works in full on Netflix, iQIYI, or Hulu,” Wilfred explained.
As Wilfred stated, applications for the scheme will only be considered if all four positions of the main creative team, including the producer, script supervisor, scriptwriter and director are Hong Kong permanent residents. On top of that, team members must have also had commercial or streaming experience in their respective roles. “With this pilot scheme, we wish to focus on local talents, nurturing the talents by providing them a hands-on experience of producing a series of their vision.”
However, the executive thinks foreign agencies are by no means shut out completely from the scheme as “overseas companies are most welcome to chip in funding or acquire the rights of the winning scripts for shooting the entire series. We provide funding to develop the whole series and produce the pilot, but still need the market to drive the results. So, in the end, we need investors to turn the scripts into actual products to hit streaming platforms.”
Powering up the film industry
Potential collaborators will certainly be eyeing the Hong Kong International Film and TV Market (FILMART) hosted by the Hong Kong Trade Development Council (HKTDC) of which HKFDC is a supporting organisation. As Asia’s largest entertainment content marketplace for cross-media and cross-sector partnerships, FILMART welcomed more than 700 exhibitors from 30 countries and regions when the physical edition resumed in 2023. It proved to be the ideal platform for HKFDC to announce their new funding schemes in such a leading regional film market that is not to be missed.
Given the enthusiastic response received, Wilfred said the Hong Kong Film Development Council is actively considering to expand the scope of countries for collaboration under the Content Development Scheme for Streaming Platforms.
Learn about Hong Kong’s latest plans to groom budding filmmakers, regional co-production opportunities and ways to enter new distribution markets at the 28th edition of FILMART. Come and join us at the Hong Kong Convention and Exhibition Centre for the premium entertainment industry event scheduled between 11th and 14th March 2024.
For more information, please contact filmart@hktdc.org