Australia’s government is taking a first step towards requiring streamers to dedicate a portion of their budgets to local content with the release of a discussion paper outlining its Streaming Services Reporting and Investment Scheme.

If implemented, the scheme will require SVODs to report on how much they spend annually on Australian content, as well as on their efforts to make it easy for local audiences to find Aussie shows and films. It will also mandate that streamers invest more than 5% of their gross Australian revenue on local content.

Producers and orgs are encouraged to submit feedback about the discussion paper to the government’s website by April 24. Once this consultation window closes, legislation will be introduced to the government for approval.

Australia’s free-to-air TV business took a hit when many advertisers curtailed their spend during the pandemic, and this led to the government scrapping its quotas for children’s content, in turn making it harder for producers to make homegrown kids shows.

Given that streamers make about US$1.4 billion in revenue from operating in Australia, a 5% requirement for Aussie content is a low bar, said Screen Producers Australia (SPA) CEO Mathew Deaner in a statement. SPA is calling for a 20% investment requirement, which it estimates would create an additional 300 hours of Australian content and 10,000 local jobs.

Photo by Erik Mclean on Unsplash