(Red carpet at the Tokyo International Film Festival)
On the sidelines of this year’s Tokyo International Film Festival (TIFF), buyers from around the world visited the world’s largest international video trade fair.
Discover hidden gems of Japanese cinema
At the 2015 trade fair, 1,433 international buyers visited 347 association displays. The trade fair facilitated as many as 6,663 business negotiations, making TIFF’s international video trade fair the world’s largest. The fair allow international media to discover high-quality Japanese films and also provides an opportunity to sell international films to stakeholders in Japan.
Challenges for Japan’s content creators
Japan’s content industry has a market value of about 12 trillion yen, making it quite large compared to other countries. Along with the United States and India, Japan is one of few countries that strike a good supply-demand balance for domestic content. However, Japan is now facing a unique challenge in the form of population decline. Japan’s content industry cannot rely only on the domestic content market for growth, so it must begin to cultivate demand overseas.
Developing business overseas
At the fair, the Ministry of Economy, Trade and Industry (METI) provides information and business-matching opportunities to encourage Japanese companies to develop video content business overseas, including films and TV programs. To continue bolstering the global popularity of anime and manga, METI is also helping to promote the Japanese animation industry to the world.
“Cool Japan” strategy
“Cool Japan” is the name of the Government of Japan’s initiative to promote Japanese arts and culture to audiences overseas. While emerging markets in Asia are on the forefront of the global content market expansion, Japanese content makes up only 2.5% of total sales in the international market. With programs like the TIFF international video trade fair and “Cool Japan,” METI will continue to support companies promoting unique Japanese content to people all over the world.
(METI Minister Seko delivering a speech at the Tokyo International Film Festival)