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A very special episode: how TV shows can be powerful tools for public health

We all know what we should do. We should eat well and exercise. But then there’s ice cream and alcohol and the couch …

But what if watching TV could actually be good for you — if your favorite TV show could inspire and support you to be healthier?

In 2012, on 90210 (a reboot of the 1990s’ Beverly Hills, 90210), 18-year-old Erin Silver (Jessica Stroup) was confronted with the choice to test for BRCA gene mutations. Her mother died from breast cancer, and if Erin had a mutation she was at elevated risk of cancer herself.

The show’s creators worked with Hollywood, Health & Society, an organization established to provide the entertainment industry with expert information on health, safety, and security.

In getting the health information right, 90210 was able to tell a compelling and dramatic story while engaging viewers with their own health.

After the show aired, a study found 12% of female viewers reported scheduling a doctor’s appointment to discuss their breast cancer risk, 13% talked about the BRCA gene with a woman they knew, and 17% searched for more information about breast cancer online.

Many non-communicable diseases, such as diabetes, cardiovascular disease, and certain cancers can be prevented by modifying behavior such as tobacco use, dietary habits, and physical activity. But the rise of such diseases shows current methods of health communication are inadequate.

Television can not only provide you health information, but can also motivate you to do what’s good for you.

But entertainment that canvases health issues can lead to misinformation. This can be really harmful.

Mental illness is commonly misrepresented in films and on television, contributing to stigma which can have a profoundly negative impact on the well-being of people living with mental illness.

A particularly sobering example was seen after the release of 13 Reasons Why, a Netflix series about the aftermath of a suicide. In the month following the first season release in 2017, the suicide rates in Americans between the ages of 10 and 17 increased 28.9% and remained elevated for a further two months.

13 Reasons Why was criticized for overlooking media guidelines against stories promoting simplistic explanations of suicidal behavior or depicting suicide as a means of accomplishing a goal. If the series had followed best practice guidelines in telling this story, the outcomes may not have been so devastating.

But entertainment can also have a powerful positive impact on health.

In 2001, Hollywood, Health & Society worked with the soap The Bold and the Beautiful on a story where Antonio Dominguez (Paulo Benedeti) learned he was HIV positive. An HIV/AIDS hotline was presented at the conclusion of the episode, and calls increased dramatically.

In 2006, the organization worked with Numbers on an episode where Charlie Eppes (David Krumholtz) changes his position on organ donation, telling his family he would like to be a donor.

After the episode aired, audiences were found to be more likely to register as organ donors and encourage others.

In decision making, we naturally give greater weight to narrative evidence than statistical evidence. This is increased in situations of high emotional engagement such as related to health.

By embedding health storylines in popular narratives we can reach audiences where they are. But the spread of contested health information has led to growing public scepticism.

It is important to present accurate information in a way that is responsible and adheres to best practice to build audience confidence.

While Hollywood, Health & Society does important work in providing information to the entertainment industry, viewers don’t know if this content is trustworthy, and there is no method to ensure stories are told in the most impactful way.

If we had a widely used methodology to guide the development of entertainment produced in partnership between the entertainment industry, health and science experts and consumers to promote health, we could make a big difference.

Scripted television and movies could be the next big thing in health promotion. But we need artists, health experts and audiences working together.

We lack a pathway for health experts, health bodies and people with lived experience to create stories to promote health.

My research team is working on identifying the characteristics of entertainment which can successfully influence health behaviors. This could be having characters key audiences can identify with, and having those characters engage in healthy behaviors related to their well-being.

We are establishing a consortium of policy makers, health experts, entertainment industry professionals, and audiences to guide the production of entertainment-driven content to promote health.

Television episodes and films produced following this method will be certified as scientifically accurate. When you watch it, you will know the information delivered is trustworthy.

It will be produced using the best knowledge about how to support people to take charge of their health. It will impact attitudes and behaviors that can improve health.

And in this, television will improve lives.

 

Michaela Pascoe is a Senior Research Fellow in Mental Health at Victoria University.

Converge targets soft launch in Mindanao in April

BW FILE PHOTO

LISTED Converge ICT Solutions, Inc. said on Thursday that it plans to soft-launch fixed broadband services in Mindanao next month.

“For Mindanao, Converge will have a soft launch slated next month. We will update you on this once details are available,” the company said in a statement to BusinessWorld via phone message, attributing it to Converge Chief Executive Officer and Co-Founder Dennis Anthony H. Uy.

“We already have customers in Mandaue City, Cebu,” Converge added.

In an e-mailed news release, the listed company said its expansion to the Visayas and Mindanao regions has been “progressing as planned.”

“By targeting to substantially complete our backbone by the first half of 2021, we hope to commercially launch by the second half of the year so that we can reach more provinces,” Converge Chief Operating Officer Jesus C. Romero was quoted as saying in the statement.

The company’s expansion project aims to connect more than 20 landing stations throughout the Philippines via 1,800 kilometers of submarine sea cables.

Aside from Cebu and Davao, Converge also targets to cover Iloilo and Negros Occidental.

“Only about 10% of the market has been covered by high-speed broadband fiber internet,” Mr. Uy said in the news release.

“The completion of the company’s national backbone will steadily increase residential subscribers and enterprise segments,” he added.

Converge expects to spend P20 billion on its national expansion efforts this year, as it targets to cover about 35% of the country’s households by December.

The company saw its net income for 2020 surge 78% to P3.39 billion from P1.91 billion in 2019.

Total revenues increased 71% to P15.65 billion from P9.14 billion.

Its EBITDA (earnings before interest, taxes, depreciation, and amortization) grew 76% to P8.22 billion from P4.67 billion, booking a margin of 52.5% from 51% in 2019.

Converge ICT Solutions shares closed 2.42% higher at P17.78 apiece on Thursday. — Arjay L. Balinbin

Enticing travelers back with promos and sales

AFTER the big hit from the lockdowns and travel bans caused by the ongoing COVID-19 pandemic, local tourism players are hoping that discounts and promos will be able to lure travelers back.

Cebu Pacific, which is celebrating its 25th anniversary, is holding seat sales for local and foreign destinations while Cebu’s private sector is launching I Love Cebu, a campaign and travel sale to increase visits to the city and the surrounding area.

Cebu Pacific unveiled a month-long seat sale earlier this month where trips to local destinations will cost just P25. earlier this month. The sale period is up to Mar. 31 or until seats last, with travel periods set until Dec. 31, 2021. Destinations include Bacolod, Boracay (Caticlan), Cagayan De Oro, Coron (Busuanga), Cotabato, Davao, Dumaguete, General Santos, Iloilo, Legazpi, Marinduque, Naga, Roxas, Siargao, Tacloban, and Zamboanga. There are also international seat sale promos with base fares ranging from P599 (Manila to Kota Kinabalu) to P3,499 (Manila to Dubai).

“We’re quite happy to note that 76% of the respondents actually said that they’re planning to travel again this year,” said Candice Iyog, VP for Marketing and Customer Experience for Cebu Pacific. Surveying their passenger base to find out their primary concerns for travel,the top priority for 2021 is the acquisition of travel requirements.

Ms. Iyog also announced a permanent cancellation of flight change fees. “We know and understand that it will take some time before confidence in air travel is fully restored. What we want is to make it easier for people to fly again. We know that flexibility is still important,” she said in a press conference.

“We believe that this is all very important because we want to support domestic tourism.”

Cebu Pacific’s passengers are required to wear face shields during the entire flight, on top of the mandatory face masks, in line with directives from the governments. Safety measures include daily extensive cleaning and disinfection protocols for all aircraft and facilities, rapid antibody testing for all frontliners and crew and contactless flight procedures. “These are based on global best practices, and adhere to the highest safety standards,” says the Cebu Pacific website.

I LOVE CEBU
One of Cebu Pacific’s destinations is its namesake, Cebu, where the private sector is launching I Love Cebu, a campaign and travel sale to increase visits to the city and surrounding areas.

The sales and the promos will be available through traveloco.ph/ilovecebu.

The platform aims to “help revive tourism exactly a year since the nationwide lockdowns,” said Alfred Reyes, President of the Hotel, Resort, and Restaurant Association of Cebu, Inc. in a press conference earlier this week. The platform will sell vouchers for hotels, resorts, tour operators, packages, and transportation. Shalimar Tamano, Regional Director of the Department of Tourism (DoT) Region VII said, “Travelers can expect up to 70% discounts for hotels and resorts as well as for tour operators.”

Aside from minimum public health safety standards —  frequent washing of hands, wearing of face masks, observing social distancing, and proper sneezing or coughing etiquette —  different areas in Cebu province have different requirements for visitors. “It is only Cebu City that requires the negative RT-PCR tests,” noted Margie Munsayac, Bluewater Resorts Vice-President for Sales and Marketing in the Zoom chatbox. “But Lapu-Lapu City does not require any testing nor travel requirements. Mandaue City and Cebu Province require only a medical certificate and confirmed accommodation booking.”

Riza Macaibay of DoT-Region VII gave an assurance that, “All DoT Accredited establishments are compliant to the health and safety protocols stated in the DoT guidelines for Accommodations under Community Quarantine. The Provincial Government of Cebu also issued an Executive Order that accommodation establishments in the Province (except Cebu City and Lapu-Lapu City) must apply for DoT Accreditation and be inspected by the Provincial Tourism Office, if they comply with the health and safety protocols stated in EO 2020-20A, prior to resumption of operations.”

Visit traveloco.ph/ilovecebu when it goes online on Mar. 21. The sale will last until Apr. 30, 2021. Watch out for other updates on facebook.com/ilovecebu032. Meanwhile, to avail of the Cebu Pacific seat sale, visit cebupacificair.com/pages/seat-sale-promo. — JLG

AbaCore to acquire Libertad Logistics

THE board of directors of AbaCore Capital Holdings, Inc. approved on Wednesday the acquisition of Libertad Logistics Integrated Zone Builders Development Corp. through a merger or consolidation via a tax-free exchange.

According to AbaCore’s disclosure to the exchange on Thursday, the company was able to acquire via merger or consolidation Libertad and its property at a discount or at P20,000 per square meter (sq.m.).

Libertad owns the property adjacent to the Batangas port, which is said to be valued at P6.5 billion. It is priced at P23,600 per sq.m.

An independent appraiser reported that “the property is located in an area where land development is of mixed-use, specifically, residential, industrial, commercial, and institutional.”

The company plans to develop the property.

AbaCore said it had authorized management “to negotiate, enter, and finalize joint venture agreements and partnerships with qualified developers, and operators… of a logistics center, food terminal, grains silo, blast freezing facility, warehouses, and other facilities allied to the Batangas port project where the Libertad property is located.”

Terms and conditions of the merger will be released once it has been finalized by AbaCore management and Libertad shareholders.

AbaCore shares at the stock exchange went up by 4.85% or P0.05 on Thursday to close at P1.08 apiece. — K.C.G. Valmonte

Nonlife insurers’ growth prospects remain bright

RATINGS AGENCY AM Best gave a stable outlook to the local nonlife insurance sector, citing robust long-term growth prospects, firms’ higher minimum net worth requirement and wider adoption of technology.

AM Best said in a report released on Thursday that a stable outlook means the ratings body expects market trends will have a “neutral influence” on local nonlife insurers over the next 12 months.

“Our outlook is stable, underpinned by long-term growth prospects and positive regulatory developments,” it said.

The long-term outlook shows the industry still has solid growth prospects, supported by the country’s rising gross domestic product per capita, to drive demand and the insurance penetration rate.

AM Best noted that the increased minimum net worth requirement of regulator Insurance Commission (IC) means many nonlife insurers, especially mid-tier companies, have to carry out fundraising exercises or consolidate to meet the mandated P1.3 billion by 2022.

“AM Best notes that without additional fundraising actions, about half of the direct nonlife insurers in the market will not be able to meet the P1.3 billion capital requirement by the stipulated deadline,” it said.

Smaller firms will struggle to find investors given their niche business models and small premium bases, the agency said.

“As such, AM Best expects the appetite for M&A (mergers and acquisitions) activity involving smaller nonlife insurance companies to be low, making it probable that a number of these companies may be ordered to wind up in the event they cannot meet the minimum net worth requirement by 2022,” it added.

The ratings firm said the increased minimum net worth requirement is a “credit positive” for the industry as it is expected to improve its overall mid-term prospects by strengthening companies’ capital positions.

The IC’s move to allow the remote selling of insurance products could also boost the sector’s growth as it gives firms a chance to widen their customer reach and distribute higher value policies digitally.

“In AM Best’s view, while capital management and regulatory support can help the insurance market survive the pandemic, it is digital transformation that will enable the insurers to recover and remain competitive. Nonetheless, the increased use of digital solutions and interfaces also present new risks for insurers to manage, including technology and cyber risks, which will require robust security controls,” it said.

Despite the rosy outlook, the insurance ratings agency said downside risks remain for the sector, such as the impact of the ongoing global health crisis, the country’s high risk of natural disasters, and strong market competition.

AM Best said the ongoing coronavirus pandemic will continue to challenge the nonlife sector in the near term as the severe slowdown in the economy and weakening investment market conditions could affect insurers’ incomes.

“Although nonlife insurers have made progress in adapting to the current environment by bolstering their infrastructure and use of digital solutions to be able to operate in a remote manner, potential future waves of infection are likely to be met with further movement restrictions in the country,” it said. 

The Philippines being a disaster-prone country is also a risk for the sector, AM Best said. It said it expects the nonlife industry to improve its capacity for modeling and managing underwriting risks, including consideration of catastrophe risk accumulation, with the help of technology. The ratings agency said it will also monitor local firms’ ongoing partnerships with global reinsurers in managing these risks.

The IC has said it plans to launch the first Philippine Catastrophe Insurance Facility this year to help the nonlife sector better manage disaster-related exposures and expand the sector’s capacity to take on more risks. — Beatrice M. Laforga

Justice League original director’s cut debuts

LOS ANGELES —  Fans disappointed by 2017 film Justice League are finally able to see the original director’s vision for the movie that united several DC Comics superheroes on screen for the first time. Zack Snyder’s cut of Justice League debuted Thursday on HBO Max.

“This movie would not exist at all without the fans, without the fans’ pressure and without their constant drumbeat and without their dedication on such a level that you can’t even imagine,” Mr. Snyder told Reuters in an interview.

Mr. Snyder and his wife Deborah, a producer, left the original film before it was finished following the death of their daughter. The movie was completed by Avengers director Joss Whedon and fell flat with critics and fans who thought the storytelling was disjointed and the visual effects messy.

Fans began lobbying for WarnerMedia to release Mr. Snyder’s version of the film. They even bought a billboard in New York’s Times Square in Oct. 2019 to promote their cause. In an unusual move, the company agreed and let Mr. Snyder rework a black-and-white version that he had completed in 2017.

The new movie goes into greater detail about many characters, which include Superman, Batman, Wonder Woman, The Flash, Aquaman and Cyborg, and explains the motives of their enemy, Steppenwolf. Stars include Ben Affleck as Batman, Henry Cavill as Superman and Gal Gadot as Wonder Woman.

Critics have generally applauded Snyder’s version. The film scored a 77% positive rating on Rotten Tomatoes, a website that aggregates reviews, as of Tuesday, compared with 40% for the 2017 movie.

The new film runs four hours and is divided into chapters of around 30 minutes each to give options for viewers watching at home, Deborah Snyder said. “They can watch it, binge watch it all the way through or they can watch it in parts,” she said. — Reuters

Petron still needs to address low fuel consumption, demand — Ang

OIL REFINING and marketing company Petron Corp. will need to address the problem of low fuel consumption and demand even after it was able to register as an enterprise in the Bataan province’s freeport area, the company’s top official said on Thursday.

This comes around two months after the Authority of the Freeport Area of Bataan (AFAB) approved Petron’s registration, and the company’s subsequent commitment to invest nearly P3 billion to improve the operations of its 180,000 barrel-per-day refinery in Bataan.

“[The AFAB accreditation] can help, but it won’t necessarily overcome all the problems, because the problem is the low consumption of fuel, of demand. And then [there’s the] overcapacity of refining capacity in the world. There’s barely any refining margin,” Petron President and Chief Executive Officer Ramon S. Ang told reporters in a mix of English and Tagalog during a media briefing on Thursday.

Registration with the Bataan freeport allowed the refinery to avail of tax perks.

Earlier, Petron said that its registration to the AFAB “will help make its refining business more competitive by improving its financial viability in the long run and address some of its major concerns.”

On Thursday, Mr. Ang also said the country’s fuel business would “improve if people are allowed to travel by cars, planes or vessels.”

“So if nobody can travel even next year, fuel and power demand will be low,” he said in a mix of English and Tagalog.

In December, the firm said that it would be halting its refinery plant operations in Bataan starting mid-January for “maintenance activities on key process units.”

Asked about how Petron’s operations in Malaysia were faring, Mr. Ang said that its oil business there was “much better than the Philippines.”

Shares of Petron in the local bourse inched up 1.28% or four centavos to close at P3.16 apiece on Thursday. — Angelica Y. Yang

PNB net profit down 73% in 2020

PHILIPPINE NATIONAL BANK (PNB) saw its net income drop 73.14% to P2.6 billion last year from P9.68 billion in 2019 amid increased provisions for loan losses due to the pandemic.

The Tan-led lender said in a disclosure to the local bourse on Thursday that its net profit before provisions for impairment and taxes rose by 17% year on year to P17.6 billion.

PNB set aside P16.9 billion in provisions for credit losses last year, five times higher than the year-ago level. It allocated loan loss reserves for the worst-hit sectors during the pandemic, including real estate, transportation, wholesale and retail trade to manage risk exposures.

The bank’s net interest earnings, which accounted for 79% of its total operating income, grew by 10.69% to P35.82 billion last year from P32.36 billion in 2019.

The lender said interest expense on deposits went down by more than half even as total deposits increased by 7.8% to P890.3 billion from P826 billion in 2019. This, as  the majority of additional deposits were low-cost funds and as the bank settled P7 billion in maturing long-term negotiable certificates of time deposit last year.

Meanwhile, interest income from loans went down by 6% on muted credit demand during the pandemic.

Its loan portfolio went down by 9% year on year to P600 billion.

“This reflected the weak demand for loans owing to economic uncertainties as well as PNB’s strategy to focus on strengthening its liquidity position by investing most of the available funds in short-term and more liquid placements to remain resilient during the pandemic,” the bank said in a statement.

Non-interest earnings, on the other hand, grew on the back of favorable market opportunities, with gains in trading securities jumping by threefold to P3.3 billion, PNB said. This offset the 9.5% decline (to P4.68 billion) in profits from service fees and commissions due to reduced banking transactions.

The bank recorded total operating expenses worth P44.79 billion last year, 56% higher than the P28.67 billion seen in 2019.

PNB’s consolidated resources reached P1.2 trillion as of end-December, 8% higher than the year-ago level. The bank’s capital adequacy ratio stood at 15.14%, while its common equity Tier 1 ratio was at 14.47%, both above the minimum required by the regulator.

“The economic fallout from the COVID-19 pandemic made it necessary for PNB to adopt a more prudent approach in asset deployment and recognize substantial credit provisioning which adversely impacted its bottom line in order to protect the balance sheet,” PNB President and CEO Jose Arnulfo “Wick” A. Veloso was quoted as saying in the statement.

“However, we remain confident that these strategies, along with our planned tactical moves will ensure that the bank will emerge from the crisis stronger in the long-run,” Mr. Veloso added.

PNB’s shares closed unchanged at P23.30 apiece on Thursday. — B.M. Laforga

Actor Johnny Depp seeks appeal in UK wife beater libel case

LONDON —  Hollywood star Johnny Depp will seek permission on Thursday to appeal against his defeat in a London libel case last year over a tabloid article which labeled him a wife beater.

High Court Judge Andrew Nicol ruled last November that Mr. Depp had violently assaulted his ex-wife Amber Heard during their tempestuous five-year relationship, at times putting her in fear for her life. That decision came after three weeks of hearings where the court heard sensational claims and counterclaims from Mr. Depp, 57, and Ms. Heard, 34, about violent outbursts which each accused the other of committing.

Mr. Depp, star of films including Pirates of the Caribbean and Edward Scissorhands, had gone to the London court to sue The Sun newspaper and one of its journalists over an article that stated he had been violent towards Ms. Heard.

“I have found that the great majority of alleged assaults of Ms. Heard by Mr. Depp have been proved to the civil standard,” said Mr. Nicol in his November ruling.

In the aftermath, Mr. Depp’s lawyers said the ruling was so flawed it would be ridiculous for him not to appeal. They said it was “troubling” that the judge had relied on Ms. Heard’s testimony while rejecting the evidence of police officers, her former assistant and other witnesses which they said had undermined her evidence.

On Thursday, Mr. Depp’s legal team will apply for permission to appeal, and to rely on further evidence. The hearing, expected to last for about two hours, will be livestreamed on the Court of Appeal’s YouTube channel.

Following Mr. Nicol’s verdict, seen as being highly damaging to his career, Mr. Depp was asked to leave the Fantastic Beasts franchise, the movie spin-offs from the Harry Potter books and films.

Mr. Depp has also filed a $50 million defamation lawsuit against Ms. Heard in a Virginia court over an opinion piece she wrote in The Washington Post. — Reuters

Singapore firm completes P11.9-billion investment in AC Energy

AN AFFILIATE of Singapore firm GIC Pte. Ltd has completed its P11.9-billion investment in Ayala-led AC Energy Corp. (ACEN), which will allow the latter to fund its developmental and operating projects, according to a press release issued on Thursday.

This comes around a week after ACEN told the local bourse that GIC affiliate Arran Investment Pte Ltd. will be subscribing to four billion primary shares through a private placement at P2.97 apiece. The investment agreement between ACEN, its parent firm AC Energy and Infrastructure Corp. (ACEIC) and Arran was signed on Dec. 30.

The private placement is the first tranche of GIC’s investment in achieving a 17.5% stake in ACEN.

“The investment [in ACEN] will be implemented through a combination of subscription to four billion primary shares via a private placement, and the purchase of secondary shares from ACEIC or the “top up,” ACEN said.

The top-up will allow GIC to reach a 17.5% ownership in ACEN, taking into consideration the planned infusion of ACEIC’s international assets into ACEN.

The GIC unit’s private placement is one of the five steps of AC Energy’s corporate restructuring, according to Eric T. Francia, its president and chief executive officer, during a media briefing in November.

“GIC is pleased to partner with the Ayala Group, the largest and oldest conglomerate in the Philippines, in their journey to build one of Southeast Asia’s leading renewables platforms,” GIC Chief Investment Officer for Infrastructure Ang Eng Seng was quoted as saying in a statement on Thursday.

“With AC Energy’s geographically diversified portfolio of renewable energy assets and proven track record of profitable growth, we believe the company is well-positioned to capture the shift from fossil-based to clean, sustainable energy in the region,” Mr. Seng said.

AC Energy Chairman Fernando Zobel de Ayala said that the group and GIC are both committed to sustainable investments.

“GIC provides not only growth capital, but also the experience and network that will help us scale up our renewables investments,” Mr. Zobel added.

AlphaPrimus Advisors acted as the financial advisor to ACEN and ACEIC for the transaction.

Last week, ACEN announced that it had recorded P3.87-billion net income last year, around 29 times higher than the previous value on the back of higher electricity sales.

Shares of ACEN in the local bourse improved 1.45% or 10 centavo to finish at P6.98 apiece on Thursday. — Angelica Y. Yang

Banks pay P2B yearly for failure to meet agri-agra quotas, BSP says

LENDERS INCUR penalties worth about P2 billion annually due to noncompliance with the mandated quotas under Republic Act 10000 or the Agri-Agra Credit Act of 2009, a central bank official said.

“On average, banks pay around P2 billion in penalties every year generally since 2011,” Bangko Sentral ng Pilipinas Supervisory Policy and Research Department Deputy Director Ma. Cynthia M. Sison said in an online briefing on Thursday.

BSP data showed loans qualified under the agricultural segment of the Agri-Agra Law stood at P642.371 billion as of end-December 2020. This was only 9% of banks’ P7.136-trillion loanable funds, falling short of the 15% requirement.

Meanwhile, banks lent P71.228 billion under the agrarian reform segment, which was only 1% of their loanable funds in 2020 and below the 10% quota in the law.

Lenders have been opting to pay penalties instead of extending credit due to the risks associated with lending to the agriculture and agrarian reform sectors.

BSP Governor Benjamin E. Diokno cited factors for the low compliance such as difficulty from the borrowers’ part to secure agrarian reform credit; limited availability of agri-agra compliant debt securities; and the lack of visible bankable agricultural projects.

“For this year, the BSP, Department of Agriculture, Department of Agrarian Reform, Agricultural Credit Policy Council and other relevant agencies will continue to push for the enactment of comprehensive amendments to the Agri-Agra Law,” Mr. Diokno said.

In March 2020, House Bill No. 6134, which contained these amendments, was passed on third reading and was transmitted to the Senate. Its counterpart Senate Bill 1924 is pending at the committee level.

Both measures include more projects for compliance with the mandated credit for the agriculture and agrarian (agri-agra) reform sectors.

The BSP this month released Circular No. 1111 which expanded eligible agri-agra loans to include those for activities related to the agricultural value chain, from farming, fishing, as well as other processes involved in converting an agricultural product from raw material to its consumption form.

It also included communities and integrated development made up of farmers who were granted land or benefited from redistributed land through previous agrarian reform programs as possible loan beneficiaries.

Mr. Diokno said the amended implementing rules and regulations of the Agri-Agra Law are only “interim measures”, adding that they will continue to push for direct revisions to the law. — L.W.T. Noble

iQIYI to develop regional stars for Southeast Asia push

SINGAPORE —  Chinese online video platform iQIYI plans to launch a talent agency in Southeast Asia to cultivate its own entertainers as it pushes to become Asia’s dominant streaming platform, a senior executive told Reuters.

The company, the parent of which is search engine giant Baidu, announced on Wednesday that it is partnering with Singapore entertainment group G.H.Y Culture & Media to start a talent management agency to identify and train talent in the region of 655 million and showcase them in its productions.

The move, which comes three months after the streaming platform installed its international headquarters in Singapore, is meant to launch young stars that would be popular with both Chinese and Southeast Asian audiences, said Yang Xianghua, president of membership and overseas business.

“We’re already growing fast, with Thailand, Malaysia, Indonesia, and Singapore as our highest growing markets,” he said. “We saw 12 times the user growth for the region in 2020.”

Simultaneously, Mr. Yang said that iQIYI’s Southeast Asian productions are seeing strong viewership numbers in China.

“Our goal is to be an Asian content platform,” he said, adding there were plans for more original

Southeast Asian TV shows and movies, with teams in South Korea and Japan working on developing original dramas and anime respectively.

A show on the agency’s search for Southeast Asian talent will also be aired.

With its young online population, Southeast Asia is becoming the newest battleground for streaming platforms, with video subscription revenue set to grow fivefold by 2025, according to a study by Google, Temasek Holdings and Bain & Co. Other companies also have plans to expand in Southeast Asia. Disney+ launched in late 2020 in Indonesia and Singapore, Netflix has ramped up subscription-only services for the region and Chinese tech giant Tencent’s WeTV bought the assets of Malaysian streaming platform Iflix in June.

Tencent has won significant market share from iQIYI in China, but the two are collaborating on international productions. A company spokeswoman said that WeTV is now airing an QIYI-produced Chinese variety show. The show features K-pop rapper and Thai national Lisa, of hit band Blackpink, the type of regional star that iQIYI now hopes to nurture. — Reuters

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