Streaming Platform
Australia will introduce laws requiring digital services to invest a minimum percentage of revenue in homegrown productions, according to government sources this week.
Platforms including Disney+ along with additional streamers with over 1M subscribers must allocate at least ten percent of their Australian spending or 7.5% of income on local content.
Legislation is being presented to lawmakers in coming days covering arts and informative content.
Government ministers stated the move is designed to safeguard production employment within the industry. Streaming services are yet to responded on the matter.
'Outstanding content'
"We have Australian content obligations on free-to-air television and pay television, however previously, we lacked no guarantee of viewing Australian narratives on streaming services," an official representative commented.
"Since launching in Australia, streaming services have produced some extraordinary series. These requirements will ensure that those stories – our stories – continue to be made."
As reported by sources, the law is scheduled for presentation to Parliament this week.
The new content requirements were originally scheduled implemented in mid-2024 but concerns over how they would interact with international trade pacts involving America led to the plans being put on hold.
Officials mentioned difficulty conducting discussions with American counterparts during their electoral process.
Following the U.S. election, concerns emerged regarding if the regulations could lead American officials to implement retaliatory tariffs against Australia.
Currently, with the dust settled, and with strengthened ties between the countries, these regulations have returned on the table.
Although industry groups applauded the announcement, platforms are still to comment regarding this development.
Previously, digital services published a report emphasizing their cultural and economic contribution to the country's creative economy.
Nonetheless, some observers interpreted this as a pre-emptive strike in anticipation at future regulation.
Production slump
Current Australian shows on streaming platforms feature multiple series spanning various genres.
Similar to other nations, the local entertainment sector have suffered in recent years, in part due to reduced activity throughout the health crisis.
During the fiscal period recently concluded, funding for feature films and television dramas made in Australia fell by almost one-third, as reported by industry statistics.
