The federal government is introducing a rule that major streaming services, incuding netflix and Paramount+, will from mid-2024 be required to produce local Australian content.
With the policy not coming into effect for another 18 months, the details of the rule are yet to be negotiated, but the Australian film and television sector have previously said it wants to see 20% of revenue reinvested locally.
The rule is expected to bring the subscription video on demand (SVOD) services in line with free to air networks, already subject to local content quotas.
According to an article about the policy from the ABC: "The streaming sector is already a significant producer of Australian screen content, spending more than $330 million on the local industry in 2021-22’.
Matthew Deaner, CEO of Screen Producers Australia, said: "It's not a big ask of a business that is mostly creating content in other markets and earning billions of dollars in our market to contribute a portion of that earning back into creating content that's localised, and is still its own investment for itself.”
Arts minister Tony Burke said: "There is no requirement that [Australian content] be there at all, and the percentages of what we're seeing with Australian content are way down on what traditionally was expected on free to air. The days of there being no guarantee of Australian content on streaming services have to come to an end."
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