The financing ecosystem in Asia’s media and entertainment (M&E) industry is at a crossroads. Yesterday, a panel featuring Dan Read, CEO of Film Finances Australasia; Anwen Griffiths, Head of Legal & Business Affairs at BBC Film; and Francis Smith, Peabody-winning showrunner and partner at IFA Media, explored the gaps and potential paths forward. Discussions centered on the need for stronger infrastructure, sustainable financial models, and collaborative practices inspired by Western markets.
Smith highlighted the evolving nature of financing, pointing out that traditional reliance on banks is shifting toward partnerships with individuals, trades, and businesses. However, smaller territories and emerging markets in Asia face unique challenges. ‘Markets like Korea, Japan, China, and the U.S. have strong internal structures’, noted, ‘but smaller territories need to find ways to generate content with local value’.
He emphasized the cultural specificity of financing in Asia, where trust and personal relationships often carry more weight than formal contracts. ‘In Asia, a more organic approach based on human relationships prevails compared to Europe’s structured agreements’, he said. Smith also stressed the importance of adaptability in a rapidly transforming industry, encouraging collaboration to ensure smaller markets remain relevant in a global landscape dominated by major players.
Meanwhile, Read, whose firm Film Finances Australasia acts as a guarantor for productions, underlined the need for stronger financial frameworks in Asia. ‘In many regions, tax credits and other financial incentives are either underdeveloped or non-existent’, said. Film Finances provides producers with tools to navigate these challenges, ensuring projects are completed on time and within budget while protecting investors.
‘Producers need upfront funds to start the project, but investors only want to pay once the project is advanced’, Read also explained. By acting as a «trusted third party», Film Finances bridges this gap, guaranteeing necessary financing and ensuring liquidity for production teams. He pointed to countries like Germany and China as examples where tax credit systems have matured, though emerging markets like Australia and parts of Latin America still have much to learn.
From a legal perspective, Anwen Griffiths of BBC Film described the financial framework in the UK as a mix of public funding, tax incentives, and international partnerships. ‘Whoever brings in the most money, such as a debt funder based on future sales, often leads financial decisions’, Griffiths stated. She emphasized the importance of understanding local financing rules and setting clear expectations early in co-productions.
The pandemic, Griffiths added, forced productions ‘to adapt’, with many turning to hybrid financing models combining public and private funds. This has led to greater cooperation between entities, but it has also placed pressure on institutions like the BBC to balance creative ambitions with economic sustainability.
The exec also spoke to the importance of effective communication and collaboration. ‘Responsive conversations ensure that funding benefits both audiences and the industry’, added.
