Public broadcaster Mediacorp announced 30 June 2009 that it will be muscling in to the events management business. They should be stopped.
Mediacorp is 100 percent government-owned, and it is not in Singapore’s interest for government-owned businesses to muscle in on industry areas that the private sector can accomplish. Government intervention should only take place if there is either market failure or if a project requires a degree of investment (or a long term security of investment) that cannot reasonably be provided by the market.
One of Singapore’s ills is that government-linked businesses have long tended to crowd out private initiative, leading to a situation we are in today — where few private Singapore companies are capable of being global players.
Mediacorp’s move into events management appears to be a response to its increasing failure as a public broadcaster. It is really bad at its job, failing to keep itself relevant to itsmpublic and its mission. It neither provides the entertainment that consumers want, nor the news and socio-political discussion that a maturing citizenry needs. Its failure can be seen from its deteriorating bottom line and declining viewership. Yet, instead of doing better at what it should be doing, it now wants to spread itself thinner and act against Singapore’s interest by invading any area that the govenrment has no business getting involved in.
30 June 2009
Channel NewsAsia website. Link.
MediaCorp moves into events management
Singapore: Leading media company, MediaCorp revealed Tuesday, the formation of MediaCorp VizPro International Pte Ltd to leverage fully on the firm’s multi-platforms to penetrate the expanding regional and international live Entertainment and Meetings, Incentives, Conventions, Exhibitions (M.I.C.E) arena.
The move into ‘on ground’ events management that will begin 1 July will be led by Tan Peck Joo, EVP, Corporate Development, International Business and VizPro International.
It will comprise three integrated sections to lend support to all the events currently managed by MediaCorp businesses as well as to grow new business.
This includes VizPro that will focus on acquiring and promoting unique shows as well as show productions in collaboration with various business partners, and VizPro M.I.C.E that will work with government bodies and other stakeholders in the development of Singapore into an attractive M.I.C.E/Event Hub, both domestically and regionally.
Yawning Bread 
Is events management a low entry barrier business?
I have seen some very young bosses (below 30) in such business and some are doing very well. Like those road shows promoting credit cards, insurance, investment, beauty products, etc or corporate/private theme parties etc etc.
Mediacorp should do something that the ordinary public cannot do and not compete with them.
Or else in future GLCs may even be involved in the hawker, retail or karung guni business.
Personally, I don’t have any higher regard for Mediacorp than you do. But from its perspective it is certainly not a bad idea to give their underworked performers something to do on the sidelines.
It is a waste of time and energy to hope Mediacorp will do the “right thing”, because it will never happen that way. It is wiser to let it waddle in its mediocrity so long as it gives the taxpayer value for money in the purely financial sense.
Now what is really annoying is TV Mobile, which doesn’t give you a choice by stuffing that mediocrity in your face every. Damn. Day.
They are already in the Karang Guni biz..semb corp…
They will get in where ever there is money to be made. The role of govt in Singapore is far too grey for anyone to even comprehend.
Its far too risky to come up with ideas and put it to use here unless you are well covered by patents and what not.
Mediacorp has the unfair advantage of having its television stations as platforms for their advertising campaigns. As it is rightly pointed out, it will twart private entrepreneur initiatives. Who can dream of competing against a government machinery? Mediacorp cannot claim that it should be viewed as just another competitor. It is not. Perhaps the way for the government to go is to privatise many of its state enterprises.
The government will continue to break the citizens’ rice bowls, then when the small business owners become unemployed, their WDC and CDC will offer “help” to score points.