Australian co-productions have larger budgets, attract higher box office takings and are released theatrically into more countries than domestic productions, according to new research by Screen Australia.
Co-productions were released in an average of 7.5 countries per title (excluding Australia) compared to 5.7 countries for domestic productions between 2007 and 2011. Co-productions also grossed a median international box office of $US1.2 million compared to $US300,000 for domestic productions (although a small number of local, studio-backed films such as Australia and Knowing pushed the average international box office of domestic productions to $US12.4 million compared to $US2.5 million for co-productions).
Two-thirds of co-production features made between 1990-91 and 2010-11 had budgets over $10 million (when adjusted for inflation), compared to just 12 per cent of all Australian features made during the same period, according to the report.
“Co-productions have been a significant form of international collaboration and exchange since the inception of the co-production program in 1986,” Screen Australia chief executive Ruth Harley said in a statement. “We believe that co-productions could be used more often and to great effect by the Australian film industry. Our analysis of the contribution of Australia’s co-production output to date supports our argument.”
The Screen Australia report, titled Friends with Benefits: A Report on Australia’s International Co-production Program, was launched at the Melbourne International Film Festival’s (MIFF) 37°South Market and includes information on Australia’s 11 official co-production partner countries. Co-productions automatically qualify for government finance in Australia and in the partner country.
The full co-production report is available at the Screen Australia website. Screen Australia also launched a free iPhone app, Doing Business with Australia, aimed at assisting producers working in the international marketplace.
Contact this reporter at bswift@www.if.com.au or on Twitter at @bcswift.