An estimated 170 fees stagnated, missed or collapsed, completely collapsed amid delays in the streaming platform’s local content rules, a new study found.
The federal government had promised that content regulations would be introduced for streaming services operating in Australia by July 1, 2024, but this policy is pending as it navigates new relationships with the newly elected US administration.
Last month, the US government received advice from the Film Association that such a mission would violate the terms of the US Free Trade Agreement. Australian Audiovisual Services was selected in the US Trade Representative’s Annual National Trade Estimate Report on Foreign Trade Barriers.
However, the Prime Minister reaffirmed his support for the regulations along with the media negotiation codes at a press conference last week, saying that he “strongly supports local content on streaming services so that Australian stories remain on Australia’s screens.”
Currently, the SPA has released the results of its member survey, indicating that 79% of its members believe they are directly affected by the lack of regulations. The Lost Committee represents a total budget of over $1 billion, resulting in an estimated 15,000 screen jobs lost in 61 screen businesses.
(Image: Screen Producer Australia)
Furthermore, only 2.9% of those surveyed were more optimistic about the Australian screen industry than at the same time last year, with 81.2% not optimistic and 15.9% feeling that they remain the same.
SPA CEO Matthew Deaner issued a statement last week specifying the Prime Minister’s words “continued solid support for our creative industry and the importance of local content rules for Australia’s cultural sovereignty,” but said the loss of optimism reflected in the findings was “almost no surprise.”
“The high percentage of screen production members of SPAs surveyed tell us that their businesses are heavily affected by delayed local content rules,” he said.
“The research also points out a major loss of optimism regarding the screen industry compared to a year ago. Given these calculated estimates of the lost work, this is not surprising.
“This impasse over regulations has been given as a reason for slowing down the green light of projects, with each stagnation, missed or collapsed committee leading to millions of investments, unemployment, business uncertainty and a decline in local content production that continues to affect audiences over the years.
“Without immediate regulatory action, we risk losing the diverse storytelling that defines our culture and the economic benefits associated with thriving local industries.”
