Budget 2027: RM130M boost for local film, music, and creative content

Budget 2027 has allocated over RM130 million to bolster Malaysia's local film, music, and creative content industries, according to MyCreative Ventures. The government's support aims to enhance the sector's contribution to economic growth and talent development. MyCreative Ventures believes this funding will empower industry players to nurture their talents, produce high-quality content, and create more resilient and sustainable businesses.

The Prime Minister, Anwar Ibrahim, introduced this RM130 million allocation during the presentation of Budget 2027 on October 9.

MyCreative Ventures highlighted the importance of elevating Malaysia's image, generating job opportunities, and showcasing Malaysian stories on a global stage. Exemptions from entertainment duty on tickets for local film screenings and theatrical performances in the Federal Territories are expected to stimulate demand for local works and widen public access to quality content.

This initiative will also bolster the earnings of industry players and help build a stronger domestic market, thereby enabling Malaysian creative works and talent to expand their reach.

MyCreative Ventures Group chairman, Datuk Muhammad Bakhtiar Wan Chik, expressed his appreciation for the allocation, stating that it validates the MADANI Government's ongoing commitment to transforming the creative industry into a competitive, high-value sector that significantly contributes to the national economy.