Industry expectations are mixed but largely skeptical toward the Japanese government’s ambitious plan to increase overseas sales of domestic content. Although the content sector has been designated one of 17 priority industries alongside semiconductors, artificial intelligence and shipbuilding, professionals responsible for selling Japanese properties internationally remain doubtful about the program’s practical benefits.
The government has set a target of more than $2.3 trillion in combined public and private investment across the selected sectors by 2040. Under the IP360 initiative, overseen by the Ministry of Economy, Trade and Industry, Japan aims to raise overseas content sales to $127 billion by 2033.
However, previous support programs have contributed to skepticism among agents attending the TIFFCOM content market during the Tokyo International Film Festival. One overseas sales agent for a midsize Japanese film company said earlier initiatives, including Cool Japan, had not provided financial backing on the scale seen in South Korea. The agent also expressed concern that support could favor major companies and small startups rather than midsize businesses.
The eligibility rules have reinforced some of those concerns. Domestic live-action films must have a budget of at least 800 million yen, equivalent to about $5.1 million, to qualify for assistance aimed at taking them overseas.
The same agent called for greater industry expertise within Japan’s political institutions and ministries, as well as cooperation with non-Japanese specialists who understand international markets. An agent handling North American licensing for a major publisher, including manga and anime, said it was too early to assess the initiative’s impact. According to the agent, sales are already growing with the help of streaming platforms, while the government’s involvement has not yet reached the frontline.
A representative of another major Japanese publisher offered a more critical assessment, saying that earlier support schemes had produced little impact.
There is also some support for the government’s approach. Makito Sugiyama, executive director of the Broadcast Program Export Association of Japan and a former international sales executive at TBS, said the industry has become more outward-looking over the past decade, particularly during the last five years. He believes IP360 is encouraging production companies to consider international markets more seriously.
Sugiyama also argued that the new strategy differs from previous subsidy programs because it reflects longer-term planning and involves less conflict between ministries. Earlier schemes, he said, were often short-term and tied to annual budgets.
Nevertheless, METI’s application guidelines have raised concerns that the new system could retain the bureaucracy and lack of transparency associated with earlier programs. A representative handling international sales for a major Japanese studio said past applications required extensive hearings and procedures, consuming significant time. The representative questioned how projects would be selected and argued that midsize-budget films, rather than productions featuring famous actors and directors, often require the greatest assistance.
Another sales agent said the application process was too complicated and that applicants sometimes had insufficient time to submit their forms. The agent added that even Japanese companies found the paperwork difficult to understand and remained unconvinced that the government would deliver on its promises.
Sources: The Hollywood Reporter.