GIO unveils $66 billion plan to promote pop music

•Source： Taiwan Today
•By Tienying Hsu

The Cabinet-level Government Information Office will inject a total of NT$2.13 billion (US$66.2 million) into the pop music industry over a five-year period, the GIO announced June 24.

The project, approved by the Cabinet June 17, will assist the sector in cultivating talent, rejuvenating the market, marketing products and taking part in the international community. It is expected to help the industry generate overall revenues of NT$50 billion.

After being briefed on the plan, Premier Wu Den-yih called on related agencies to support the GIO’s efforts. Popular music is one of the greatest sources of soft power for Taiwan, as the country has exported so much of it to other parts of Asia over the years, Wu noted. Nevertheless, due to rampant piracy and digital music sharing, the popular music sector in Taiwan has been on the decline, he added.

The pop music industry hit a peak of NT$12.3 billion in the 1990s, its golden days. While the figure dropped to NT$7.06 billion in 2008, there has been growth in the fields of digital music, concerts and arts agencies in recent years.

The government is confident that the GIO plan, in collaboration with the creativity of the private sector, will help bring prosperity to the pop music industry again.