Global Streaming Giants Fight Local Content Quota Calls
Foxtel-owned Binge and Kayo are the only mainstream SVOD platforms in Australia that haven’t teamed up to push back on potential regulation by the Morrison government to make global streaming giants spend some of their local revenue on Australian content.
Netflix, Stan, Amazon Prime Video, Disney+ and Paramount+ have banded together with a report that pitches their industry’s contribution to the local economy and screen industry, hoping to avoid local content quotas and other regulations.
While they didn’t put an actual monetary figure on their contribution, they cited data regarding individual productions, as well as anecdotal evidence showcasing a thriving industry.
Part of this pointed to the $268 million invested in local content in 2020, information which was made public in August through the inaugural Australian Communications and Media Authority’s SVOD Australian content investment report.
The 2021 data is expected to be released in the next few weeks.
The report tabled by the global streaming giants suggests they are not putting the Australian production sector or creative economy at risk by not agreeing to local content quotas.