Tap into sports industry's "hypergrowth stage", says government

Story by Dawn Yip

Dr Christopher Chia (right), CEO of MDA, signed the MOU with SSC CEO Oon Jin Teik (right) while Minister Dr Vivian Balakhrishnan looks on. (Photo © Leslie Tan/Red Sports)

Sentosa Pavilion, April 16 2008 – When Richard Seow, Chairman of Parkway Holdings, was a student at Anglo-Chinese School, he was a sprinter who was "very fast, and also got all the girls," recalled Vivian Balakrishnan, Minister of Community Development, Youth and Sports.

"Even way back, it was possible to make sports sexy," he said to laughter from the audience of business CEOs gathered at the 3rd Singapore Sports Council's CEO Networking Session.

Today, with mass participation in sports, Singapore's vibrant sports calendar, and a more sophisticated sports industry, Dr Balakrishnan urged companies to "ride this wave of opportunity and help the sports industry reach its potential."

In a show of government support, the Media Development Authority (MDA) and Singapore Sports Council (SSC) signed a memorandum of understanding at the event, pledging $1 million in seed funding to develop the sports media and broadcasting industry. Explained SSC CEO Oon Jin Teik, "A thriving sports media and broadcasting sector is vital to the overall development of the sports industry. With it, we will be able to generate more interest in sports, attract more private sector involvement, provide consumers with more sports content choices on more distribution platforms, which will ultimately help us to build a strong sports culture in Singapore."

Dr Christiopher Chia, CEO of MDA, added that one outcome of the seed fund was to facilitate content distribution "beyond traditional broadcast media, including new media channels. This initiative will extend the shelf-life of local sports events and increase its reach to a wider audience."

Besides content development and distribution, other areas of focus include programming, rights management and capability building. Broadcasters and content providers will be invited to be involved in the process through a Sports Media Business Group to be led by both SSC and MDA.

"It's exciting times for us. Never has such a small country had such an impact," said Samuel Yong, Vice-President of Longines (Singapore), which has a long tradition in sports timekeeping. Added Adrian Mok of HiVelocity Singapore, "It's good that we are introducing sports to industry players. The next level is to help companies by matchmaking."

Richard Seow (left), Chairman of Parkway Holdings, speaking with Minister Vivian Balakrishnan. Mr Seow was once Singapore’s fastest schoolboy runner. (Photo © Leslie Tan/Red Sports)

Oon Jin Teik, CEO of the Singapore Sports Council, answers reporters questions in a media scrum. (Photo © Leslie Tan/Red Sports)

Minister Balakrishnan, flanked by Chairman of SSC Alex Chan (right) and Senior Parl Sec Teo Ser Luck, toast the audience of business CEOs. (Photo © Leslie Tan/Red Sports)