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SINGAPORE: Six of Asia's top media companies have teamed up for a regional convergence in an increasingly competitive industry.
They are looking at ways to maximise their combined vital broadcast technologies, content and best practises.
The group collectively called "Smart Alliance" is composed of Thailand's BBTV, Vietnam's international Media Corporation, Indonesia's Media Nusantra Setra, Malaysia's Media Prima, Singapore's MediaCorp and Philippines ABS-CBN.
Members are looking to produce original Asian content as well as improve corporation in terms of procuring equipment and sharing information to conquer challenges posed by the Internet, social media and rising equipment costs.
Eugenio Lopez III, CEO and chairman, ABS-CBN said: "The alliance was born at the right time because we are in the midst of change. The desire by Asians for Asian content has never been stronger but at the same time our business models are being challenged by the new technologies today."
One notable agreement was the equipment and facilities rental deal, which will reduce operational and equipment cost by sharing equipment among members. This includes opportunities for bulk buying of equipment, which as a group would yield better and cheaper just for the members.
The group also signed a Smart Alliance website agreement that aims to provide information on the alliance to its different stakeholders through a website, which the group hopes to accomplish by the end of the year.
Smart Alliance chairman in Singapore, MediaCorp President Lucas Chow, said members have been working well together and the partnership will help each company meet the needs of the future.
He said: "We are looking at acquiring a format that would go beyond language and boundaries and culture. If we are successful, it would be the first time we have a variety show that cuts across all boundaries - something truly ASEAN."
ABS-CBN President Charo Santos Concio said Filipino viewers themselves would benefit from the implementation of the group's projects, particularly the generation of Asian content.
He said: "We have been very very successful with our TFC (The Filipino Channel), we have been very successful in touching the lives of our global capermelias."
Smart Alliance turns one on March 24.
- CNA/sc
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