In brief
The Australian government has announced legislation that mandates streaming platforms like Netflix and Amazon Prime to contribute a minimum of 10% of their local expenditures or 7.5% of their revenue towards producing Australian content. This move aims to support local jobs in the arts and ensure that Australian stories are represented in the media. The legislation will apply to various genres, including drama and documentaries, and is expected to be introduced in Parliament soon.
Australia is set to introduce laws requiring streaming platforms to invest a minimum amount of money in homegrown content, the government announced on Tuesday.
Streaming giants such as Netflix, Disney+, and Amazon Prime, along with other platforms with over one million subscribers, will be obliged to contribute at least 10% of their local expenditures or 7.5% of their revenue to Australian content.
The proposed legislation, to be introduced to Parliament this week, will encompass various genres including drama, documentaries, arts, and educational programs.
Arts minister Tony Burke and communications minister Anika Wells expressed that this initiative would help safeguard acting jobs in Australia, though streaming services have not publicly commented on the new rules yet.
Burke emphasized the need for local content, stating, We have Australian content requirements on free-to-air television and pay television, but until now, there has been no guarantee that we could see our own stories on streaming services. He added that this obligation will support the production of significant Australian narratives.
According to reports, the new guidelines were initially intended for implementation by July last year. However, complications regarding their alignment with a free trade agreement with the US led to postponements. The Australian government cited the challenge of negotiations during an election period and concerns about possible retaliatory tariffs from the US after President Trump's election.
Despite the delay, industry supporters such as the Australian Writers Guild and Screen Producers Australia have welcomed these developments. The recent years have seen a notable decline in investment in Australian films and television dramas, dropping nearly 30% in the 2023-24 financial year.
Recent Australian streaming productions include 'Heartbreak High,' 'Territory,' and 'Apple Cider Vinegar,' but the industry continues to navigate recovery from the challenges posed by the COVID-19 pandemic.
