Streaming Platform
Australia will introduce legislation mandating digital services to invest a specified percentage of funds in domestic content, according to official sources this week.
Services such as Disney+ and other providers that have 1M users must contribute at least ten percent of their local expenditure or 7.5% of income on Australian productions.
The law will be introduced to parliament this week covering arts and educational content.
Government ministers stated this initiative would help to protect production jobs in the industry. The platforms are yet to commented on the matter.
'Outstanding content'
"We have Australian content requirements for broadcast television and subscription services, however previously, we lacked assurance of viewing Australian narratives via digital platforms," a government representative commented.
"Since launching in Australia, streaming services have produced numerous remarkable shows. These requirements guarantee that those stories – Australian content – will keep being produced."
According to sources, the law will be introduced to Parliament this week.
These updated production obligations were meant to be in place by July last year however worries over how they would interact with international trade pacts involving America resulted in the initiative being put on hold.
Officials cited difficulty conducting negotiations with the US during their electoral process.
Following the U.S. election, concerns emerged regarding if the rules could lead the US administration to impose retaliatory tariffs against Australia.
Now, with the dust settled, and with improved relations between the countries, those rules have returned for consideration.
Although industry groups welcomed the announcement, streamers have yet to comment on the matter.
Previously, digital services published documentation highlighting 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 local productions available online include multiple programs across different genres.
Similar to other nations, the local entertainment sector have suffered in recent years, partly because of reduced activity during the Covid-19 pandemic.
In the financial year recently concluded, funding for feature films and television dramas made in Australia decreased by almost one-third, as reported by sector statistics.
