Southeast Asia needs more regulation and investments for its cultural industries to scale, says POPS Worldwide CEO Esther Nguyen

From the source

Open your TikTok or Instagram app and you’ll likely be greeted by short-form video content soundtracked by music from across the globe. “Social networks have really democratized music, in terms of release, promotion and marketing so that anyone anywhere in the world can consume it,” said Esther Nguyen, CEO of Vietnam-headquartered entertainment firm POPS Worldwide, during the Fortune Southeast Asia 500 Summit in Vietnam on Nov. 3. While listeners today embrace music from different genres and countries, Nguyen says there’s still a way to go before Southeast Asia’s music industry can scale globally. “It’s a concerted effort, and South Korea has done it really well,” Nguyen explained. “[You’ll need] government regulations and policies supporting IPs, legal infrastructure and frameworks, international export support, and investments and financial incentives.” “There needs to be a more robust investment community that are experts in entertainment and music,” she added. “L.A., New York and…

BestAIBroker analysis

• Finance-aware sentiment: neutral (+0.00 on a -1 to +1 scale).
• Event classification: OTHER.
• Market importance score: 30/100, weighting entity relevance, source credibility, multi-outlet coverage and recency.