Cyberport CEO Nick Yang believes Hong Kong is fast developing as a content hub

Hong Kong is rapidly developing as a content hub, and can become one of the most sophisticated digital entertainment markets in the world, according to Cyberport CEO Nicholas Yang.

 

"Already, Asia's broadband growth leads the world - averaging 6.6% growth to US$210 billion per year, and Hong Kong is No 1 in terms of connectivity," he said. "There is a real opportunity for further growth."

 

"Hong Kong's advantage is that we are multicultural, a unique blend of East and West," said Mr Yang. "With these advantages, I believe Hong Kong should model itself on Switzerland. Like the Swiss, we need to focus on one or two products and become experts. I believe this area is in digital entertainment - online games, for example - it's already a multibillion dollar industry."

 

"Hong Kong has traditionally has been very good at entertainment, and we believe it will feed off the traditional entertainment business, and transform into a much higher value-added digital entertainment business. This is clearly an area with a lot of potential," said Mr Yang

 

Carving out a niche

 

"This is the future and we need to carve a niche to stay competitive. Entertainment, advertising, education and music all equal content. Content is king. People want this kind of information. Hong Kong can offer it - we're already the best in Asia in music, film, all the world's largest advertising agents are all here. We also have the China advantage... we can take the best of the world and give it to China, but also take the best of China and give it to the world," he added.

 

Started in 1999, Cyberport is a hi-tech business hub with superfast wireless internet access of more than 100 megabits per second. It provides a robust technology platform for tenants, including local and multi-national IT companies and professionals, to foster technology innovation and grow their business.

 

Cyberport offers both a Digital Media Centre for content creation, and another Wireless Centre for mobile content. The site comprises a total area of 4 million square feet and employs or houses some 20,000 people within its offices, retail/ entertainment complex, 5-star Le Meridien hotel and residential units. The complex is able to accommodate 150 to 200 companies, and is already home to fifteen multinational companies such as CISCO, IBM, Hewlett Packard, Microsoft, and Oracle.

 

International branding

 

Mr Yang said that with the recent completion of facilities, Cyberport would focus more on international branding this year. International attention is already gathering speed, through innovative events such as the inaugural Venture Capital Forum in December last year, which attracted more that 300 attendees from Hong Kong, the Chinese mainland, North America, Europe, Taiwan, Singapore, Korea and Thailand.

 

"The main focus currently is on creators, managers and deliverers of digital content, because that's where we see the big niche for Hong Kong going forward. We have achieved a lot, but we can't be content at that," said Mr Yang. "We need to keep focusing on the next challenge!"

 

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