JAKARTA - The Japanese government is considering doubling the budget allocated to support the creative industry, including content creation, anime, games, and music, to around 100 billion yen (about Rp11 trillion).
According to several official sources familiar with the matter, the Japanese government will secure at least 500 billion yen (about Rp55.7 trillion) over the next five years to encourage overseas expansion.
As reported by ANTARA from Kyodo, Friday, July 3, the funds will be included in the proposed budget for the 2027 fiscal year, which will be compiled this summer.
The discussion about the reorganization came amid the condition of CoolJapanFundInc, a partnership institution established more than 10 years ago to promote Japanese cultural products overseas, suffered huge losses due to the poor performance of various companies in the institution's portfolio.
The Japanese government will also set its policy direction by the end of this year.
However, it is still unclear whether the additional funds are for new initiatives, before the organization produces tangible results to produce effective results.
The content industry is one of 17 sectors, including semiconductors, where the Japanese government is encouraging investment for growth.
Sales abroad in the industry reach around 6 trillion yen (around Rp668.5 trillion) per year, exceeding the value of semiconductor exports.
The Japanese government has also set a target to increase this figure to 20 trillion yen (about Rp2.2 quadrillion) by 2033.
In the main fields of anime and manga, the Japanese government will support the training of translators and the use of artificial intelligence (AI) to produce works for overseas audiences.
The Japanese government will also strengthen countermeasures against increasingly sophisticated piracy on foreign websites.
For the game industry, the Japanese government will encourage the development of the market for smart phones and computers, which have greater growth space than home console games.
The Japanese government is pushing for overseas expansion as well as talent development in the fields of music, film, and drama.
Support for the content industry is also widespread abroad. In South Korea, the annual budget for the creative industry reached around Rp8.4 trillion in 2023.
In Japan, business groups have called for a temporary increase in funding for a group of lawmakers from the ruling Liberal Democratic Party to get at least 500 billion yen (about Rp55.7 trillion) over five years.
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