Taiwan's New Media Entertainment Association (NMEA) has launched a project to unite small content creators vertically and horizontally, calling for the establishment of a holding company to help domestic media companies support and cooperate with each other.
Under its Project X, NMEA suggests the government inject an initial fund of NT$1 billion (US$35.71 million) for the holding company that will create 10 new pieces of Taiwanese IP per year, so as to achieve four major development goals of capitalization, digitalization, globalization and localization for Taiwan's contents creation industry, according to NMEA chairman Homme Tsai.
Tsai said in a statement that the arrival of "the age of streaming" threatens to wipe out Taiwanese content creators who compete individually against international giants such as Netflix.
NMEA now has more than 200 individual and corporate members, engaged in the fields of gaming, music, digital advertising, publishing, anime and manga, fashion, new media and filmmaking, the statement said.