Streaming Platform
Australia is set to enact laws mandating digital services to allocate a minimum amount of funds in local content, as announced by government sources this week.
Platforms including Amazon Prime along with additional providers that have one million users will need to contribute at least 10% of their local expenditure alternatively seven and a half percent of income on local content.
Legislation is being presented to parliament in coming days covering arts and educational programmes.
Official ministers stated the move would help to safeguard production employment in the industry. Streaming services have not yet commented on the matter.
'Outstanding content'
"There are Australian content requirements for broadcast TV and pay television, however previously, there has been assurance of viewing our own stories via digital platforms," a government spokesperson stated.
"Since launching domestically, streaming services have produced some extraordinary shows. This obligation will ensure that those stories – our stories – will keep being produced."
As reported by reports, the law is scheduled for presentation to legislators in the coming days.
The new content requirements were originally scheduled implemented by July last year however worries regarding potential conflicts with international trade pacts with the US resulted in the plans being delayed.
Officials cited challenges engaging in discussions with American counterparts during their an election.
Following the U.S. election, concerns emerged about whether the regulations might prompt the US administration to implement trade measures targeting Australian interests.
Currently, following resolution, and with improved relations between the countries, these regulations are now back on the table.
Although industry groups applauded the news, streamers are still to comment regarding this development.
Back in 2022, streaming platforms published a report highlighting their cultural and economic impact to the country's creative economy.
However, some observers interpreted this as strategic positioning in anticipation at future regulation.
Production slump
Recent local productions on streaming platforms include various series across different categories.
Similar to other nations, Australia's creative industries experienced challenges recently, in part due to the production slump throughout the health crisis.
During the fiscal period recently concluded, investment in movies and TV series made in Australia decreased by almost one-third, as reported by industry data.
