From online games to media distribution, the interactive digital media (IDM) sector of Singapore has once again seen a surge of growth that has put it “ahead of the rest of the local IT sector.” According to The Straits Times, Singapore’s leading daily, the managing consultancy Deloitte recently released figures showing 30 percent growth in IDM for 2010.
In an interview with The Straits Times, John Goeres, one of Deloitte’s managing directors, praised Singapore’s booming IDM sector. He was quoted as saying that “it is a critical sub-sector to track and further enable, and as a lens into the future, is an important one for Singapore to watch and analyse going forward.”
The initial growth of the IDM sector is due in part to the government’s support of the industry, taking the form of a $500 million budget set aside in 2006 “by the National Research Foundation to jump-start the sector over a five-year period.” Since then, Singapore’s IDM sector has grown rapidly, spawning numerous “home-grown” companies like online game publisher Garena, known for its successful distribution of the game “League of Legends.”
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