The Australian parliament has officially passed new local content quotas that will affect global streaming services with more than one million subscribers in that market.
Services with over one million Australian subscribers are now legally required to spend 10% of their total Australian expenditure – or 7.5% of their revenue – on local originals.
Failing to comply with the rules will see streamers fined up to ten times their annual revenues in Australia. There are no restrictions on what the content itself is, and so it could include dramas, comedies, children’s shows, docs, or arts and educational programs.
Australia’s Arts Minister Tony Burke says in a statement:
“We have Australian content requirements on free-to-air television and pay television, but until now, there has been no guarantee that we could see our own stories on streaming services. Streaming services create extraordinary shows, and this legislation ensures Australian voices are now front and centre. Now, no matter which remote control you’re holding, Australian stories will be at your fingertips.”
Six services pass the one million threshold – Netflix, Amazon, Disney+, Stan, Paramount+ and Binge, with HBO Max likely having passed it in recent months. In all, the SVOD sector is growing 5% annually, with households now boasting an average of 3.3 services.
Source: BroadbandTV
