Australia is set to introduce legislation requiring streaming platforms to allocate a minimum investment in local content. This announcement was made by the government on Tuesday. Streaming services, including Netflix, Disney+, and Amazon Prime, that have over one million subscribers will be mandated to invest either at least 10% of their local expenditure or 7.5% of their revenue in Australian content.
The proposed legislation aims to be introduced in Parliament this week and will cover various genres, including drama, documentaries, arts, and educational programs. Arts Minister Tony Burke and Communications Minister Anika Wells indicated that this initiative is intended to safeguard local employment for actors. As of now, streaming services have not publicly responded to this announcement.
Burke emphasized that similar Australian content requirements already exist for free-to-air and pay television, but a concrete guarantee for local stories on streaming platforms has been lacking. He noted that while streaming services have produced noteworthy shows, the new regulations would secure the continuation of Australian narratives in the streaming space.
Previous plans for these content requirements were delayed due to concerns regarding their compatibility with a free trade agreement with the United States, particularly during the elections and under the Trump administration. The current political climate has shifted, allowing the government to revisit these regulations.
While organizations such as the Australian Writers Guild (AWG) and Screen Producers Australia (SPA) have welcomed the upcoming changes, streaming services have yet to issue official statements regarding the new requirements. Recent reports indicated a significant decline—nearly 30%—in investment in Australian feature films and television dramas for the financial year 2023-24, attributed in part to the production challenges posed by the COVID-19 pandemic.
Source: https://www.bbc.com/news/articles/cy7emk7mgy0o?at_medium=RSS&at_campaign=rss