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Streaming Platform

The Australian government is set to enact legislation mandating streaming platforms to invest a specified amount of revenue in homegrown content, according to official statements this week.

Platforms including Netflix and other providers with over one million subscribers must contribute at least 10% of their local expenditure or seven and a half percent of revenue on Australian productions.

Legislation will be introduced to parliament this week and will apply to drama and informative programmes.

Government ministers announced the move would help to protect production jobs in the industry. Streaming services have not yet responded on the matter.

'Outstanding content'

"There are Australian content requirements on free-to-air television and pay television, but until now, we lacked no guarantee of viewing our own stories via digital platforms," an official spokesperson commented.

"Since launching domestically, digital platforms have produced some extraordinary series. These requirements guarantee that those stories – our stories – will keep being produced."

As reported by sources, the law is scheduled for presentation to Parliament in the coming days.

The new content requirements were meant to be implemented by July last year however worries regarding potential conflicts with international trade pacts with the US resulted in the initiative being put on hold.

Officials mentioned challenges engaging in discussions with American counterparts while it was holding electoral process.

Following the U.S. election, concerns emerged regarding if the rules might prompt American officials to implement retaliatory tariffs targeting Australian interests.

Currently, with the dust settled, and with improved relations between the countries, those rules have returned for consideration.

Although professional associations applauded the news, streamers are still to issue statements regarding this development.

Previously, digital services published a report emphasizing their cultural and economic contribution to the country's entertainment sector.

Nonetheless, it was seen by some as strategic positioning in anticipation of coming legislation.

Production slump

Recent Australian shows available online feature multiple series spanning various categories.

Like many countries, the local entertainment sector experienced challenges recently, partly because of the production slump during the Covid-19 pandemic.

During the fiscal period recently concluded, investment in movies and TV series made in Australia decreased by almost one-third, according to sector statistics.