New laws to be imposed will oblige streaming giants like Netflix, Disney and Amazon Prime to invest in producing local Australian content.
The federal government will mandate that the big streaming services invest a portion of their revenue back into Australian content starting in mid-2024.
The Australian film and television industry has previously lobbied for 20 per cent of income, but specifics of the new policy are still being negotiated with both the platforms and the industry.
Additionally, these regulations would align the streaming industry with free-to-air networks, which currently have local content requirements.
With over $330 million invested in the local industry in 2021–2022, the streaming sector is already a sizable supplier of Australian screen content.
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The policy should be in place by July 2024, and the administration hopes to have all the specifics worked out by the middle of this year before submitting legislation later in the year.
While acknowledging that the platforms are currently creating content freely, Arts Minister Tony Burke said that this should be a mandate.
“There is no requirement that [Australian content] be there at all, and the percentages of what we’re seeing with Australian content are way down on what traditionally was expected on free to air,” Burke said.
“The days of there being no guarantee of Australian content on streaming services have to come to an end.”
The Australian film and television business has been urging the federal government to impose content restrictions on the streaming industry for 10 years, and it has enthusiastically welcomed the news that change is on the way.
It has already started advocating for the adoption of its prefered model, which would see 20 per cent of streamers’ profits going back into the local economy.
Marta Dusseldrop, Bryan Brown, Sigrid Thornton, Simon Baker, and Rodger Corser are just a few of the well-known Australian screen names that have recently contributed their profiles to the industry’s campaign.
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Jaw de Guzman is the content producer for Comms Room, a knowledge platform and website aimed at assisting the communications industry and its professionals.
