HONG KONG: More visitors - less money.

That summarizes Jennifer Jao's impression of this year's Hong Kong International Film and TV Market (Filmart), which closed Thursday.

A veteran film producer and the director of the Taipei Film Commission, Jao said the Taiwan delegation is attracting more enquiries this year, some from markets that showed interest in Taiwan films or television programs for the first time.

But the impact of the economic crisis is definitely apparent. Better-known establishments had no difficulty signing up purchasers. Clearly, free-spending is out of style and bargain-hunting is in vogue.

"The buyers seem to have a tighter budget and are more cautious in placing orders ... They either spent less or wanted more programs included in a package for the same amount of money," she said.

The Taiwan delegation, totalling 14 companies, is among the popular exhibitors this year. This, in no small measure, owes to the success of Cape No 7.

Wei Te-sheng's romantic comedy grossed NT$530 million ($15.6 million), breaking a 60-year-old record for local production on a market that has been dominated by Hollywood flickers.

"Many buyers come to enquire about Cape No 7. Since there's a long queue, they browsed other titles when waiting and this has helped generate sales that would not happen otherwise," Jao said.

According to figures from Taiwan's Government Information Office (GIO), 199 Taiwan films were brought to the overseas market last year.

The office has also introduced measures to support the film industry including hefty subsidies for film production.

"A new film project will receive a subsidy amounting to 20 percent of the box office revenue of the director's last movie," said Frank Chen, Director of GIO's Department of Audio-Visual Materials.

Film and television is a recession-proof industry for Taiwan, said Steven Lin, chairman of Taipei Home Entertainment Association.

"People have more spare time to enjoy entertainment products during economic downtimes. And those who used to take overseas holidays or go to nightclubs are cutting back and relaxing at home," he said.

A specialist in television production, he said the business surged 30 percent in Taiwan during the 2003 SARS epidemic.

"Our trade is not linked to the general economic environment. The decisive factor is always content," he said. "Good films like Cape No 7 will sell well, whether in good economy or bad economy."

(HK Edition 03/28/2009 page4)