Streaming Platform
Australia is set to introduce legislation requiring streaming platforms to allocate a specified amount of revenue in local content, according to official sources this week.
Platforms such as Disney+ and other providers that have 1M subscribers will need to allocate at least ten percent of their local expenditure alternatively 7.5% of revenue on Australian content.
Legislation will be introduced to lawmakers this week covering documentaries and informative programmes.
Government representatives stated this initiative would help to protect acting jobs within the industry. Streaming services have not yet responded publicly.
'Remarkable productions'
"There are Australian content requirements on free-to-air TV and pay television, but until now, there has been no guarantee of viewing our own stories via digital platforms," a government representative commented.
"Since their introduction domestically, digital platforms have created some extraordinary series. This obligation will ensure such productions – our stories – continue to be made."
According to sources, legislation will be introduced to legislators this week.
These updated production obligations were meant to be in place by July last year but concerns over how they would interact with a free trade agreement with the US resulted in the plans being delayed.
Officials cited challenges engaging in negotiations with American counterparts while it was holding an election.
Following the U.S. election, there was then concern about whether the regulations could lead American officials to impose trade measures targeting Australian interests.
Now, following resolution, and with strengthened ties internationally, these regulations are now back on the table.
Although industry groups welcomed the announcement, streamers have yet to comment on the matter.
Previously, digital services published documentation emphasizing their cultural and financial contribution to the country's entertainment sector.
Nonetheless, it was seen by some as strategic positioning against any attempt of coming legislation.
Industry decline
Current Australian shows on streaming platforms include multiple programs spanning various genres.
Similar to other nations, Australia's creative industries have suffered recently, partly because of the production slump during the Covid-19 pandemic.
In the financial year recently concluded, investment in feature films and television dramas produced domestically fell by almost one-third, according to industry data.
