PUTRAJAYA: The government has allocated RM30 million for the Media Innovation Fund 2.0 to support the transformation and growth of the local media industry.
Government spokesman Datuk Seri Fahmi Fadzil said the initiative would help media companies strengthen their operations and explore new approaches to content production and delivery.
“The Madani government will continue the Media Innovation Fund initiative through the implementation of Media Innovation Fund 2.0, with an allocation of RM30 million.
“The initiative reflects the government’s ongoing commitment to ensuring the media industry continues to be strengthened, particularly in innovation, digitalisation, talent development and the adoption of new technologies,” he said at a post-cabinet meeting press conference.
Fahmi said the latest fund retained the four existing funding categories while introducing a new one, bringing the total to five.
The new category covers subscriptions to news services and media content.
The four existing categories are training for media personnel; software and technology adoption; equipment, hardware and support facilities; and content research and development.
The fund aims to help local media organisations strengthen their digital transformation through training, the adoption of new technologies and software, equipment upgrades and content development.
In the previous edition, 72 media companies received funding for various transformation initiatives, including training, strengthening their operations and exploring new approaches to content production and delivery.