Streaming Platform
The Australian government will implement legislation requiring streaming platforms to allocate a minimum percentage of funds in domestic productions, as announced by official statements on Tuesday.
Services including Netflix and other streamers with over 1M users will need to allocate at least 10% of their local spending alternatively 7.5% of revenue toward local content.
The law is being presented to lawmakers in coming days and will apply to drama and educational content.
Official representatives stated the move is designed to safeguard production jobs within the sector. The platforms have not yet responded publicly.
'Extraordinary shows'
"We have Australian content obligations on free-to-air TV and subscription services, however previously, there has been assurance that we could see our own stories on streaming services," an official representative commented.
"Since launching in Australia, streaming services have created some extraordinary series. This obligation will ensure such productions – Australian content – will keep being produced."
As reported by sources, the law is scheduled for presentation to Parliament this week.
These updated production obligations were meant to be implemented in mid-2024 but concerns regarding potential conflicts with international trade pacts with the US resulted in the initiative being put on hold.
The government mentioned challenges engaging in discussions with American counterparts while it was holding electoral process.
After President Trump was elected, concerns emerged about whether the regulations could lead American officials to implement trade measures targeting Australian interests.
Currently, following resolution, and with improved relations internationally, those rules have returned on the table.
While professional associations applauded the news, platforms are still to comment regarding this development.
Previously, digital services published documentation highlighting their cultural and financial impact to the country's creative economy.
However, it was seen by some as strategic positioning against any attempt at future regulation.
Production slump
Current Australian shows on streaming platforms include various series across different genres.
Similar to other nations, Australia's creative industries have suffered in recent years, partly because of the production slump during the Covid-19 pandemic.
During the fiscal period 2023-24, funding for movies and TV series made in Australia fell by nearly 30%, as reported by sector statistics.
