Australia's government announced plans to impose local content quotas on international streaming platforms, including Netflix, Disney+, and Amazon Prime Video.
The
plan is part of a new national policy initiative called "Revive," which
seeks to boost the native Australian film and TV industries.
- Reserach indicates that Australians now watch more content via streaming platforms over traditional broadcasters.
- In
2021, the Australian subscription video market grew by 50%, hitting
$1.7 billion US in revenue; local film and TV producers have urged the
government for years to impose quotas on those platforms, forcing them
to spend a chunk of that revenue on Australian productions.
- It's
unclear what percentage of revenue earned in Australia that streamers
will be required to put back into the local media industry; government
officials plan to consult with major streamers and local industry groups
before making a decision.
- The new regulations will go into effect no later than July 1, 2024.
