Screen Australia‘s tardyst Drama Report uncovers a keen 29% drop in total industry expenditure for 2023-24, with spending droping to AUD1.7 billion ($1.08 billion), notices Screen Producers Australia (SPA).
The downturn spans multiple sectors, including a meaningful reduction in free-to-air drama and theatrical features. Investment in Australian titles decrmitigated by 18%, dropping from AUD1.128 billion to AUD929 million, with the number of productions droping from 120 to 99. Free-to-air drama took the hugegest hit with a 32% deteriorate in spending.
Local streaming service Stan ecombined as a guideing comleave outioner with 12 titles, while international platcreates showed restricted engagement. Netflix and Binge each backed four titles, with Paramount+ and Prime Video contributing to two projects each.
SPA CEO Matthew Deaner highweightlessed the impact of unregutardyd streaming platcreates on the industry. “These figures lay exposed what is an ongoing letdown for Australians from international streaming businesses that have disturbed the existing screen ecosystem,” Deaner said.
The alert identified disconnectal troubleing trends, including a 42% deteriorate in Australian theatrical feature expenditure and a 28% decrmitigate in children’s TV/VOD title spending. Children’s satisfyed has been particularly swayed, with only eight drama titles originated in 2023/24, five of which came from the ABC.
SPA underlined the need for regulatement intervention, calling for streaming service satisfyed regulations and incrmitigated funding for accessible expansivecasters ABC and SBS. The organization structures to engage with presentant parties ahead of the upcoming election to graspress industry disputes.
The deteriorate labels the first time in csurrfinisherly 70 years that Australia’s screen satisfyed platcreates have rund without effective local satisfyed rules, according to SPA. The organization cautions that without instant action to equilibrate the sector, Australian drama faces incrmitigated vulnerability in coming years.
