An estimated 170 commissions have stalled, been missed or collapsed entirely amid delays in local content rules for streaming platforms, a new survey has found.
The Federal Government had promised content regulation would be introduced for streaming services that operate in Australia by July 1, 2024, but the policy has been put on hold as it navigates a new relationship with the newly-elected US administration.
Last month, the US government received advice from the Motion Picture Association that any such mandate would violate the terms of the US Free Trade Agreement. Australian Audiovisual Services have since been singled out in the US Trade Representative’s annual National Trade Estimate Report on foreign trade barriers.
However, the Prime Minister reaffirmed his support for the regulation, along with the Media Bargaining Code, in a press conference last week, stating that he “strongly supports local content in streaming services so Australian stories stay on Australian screens”.
Now SPA has released the results of a member survey that shows that 79 per cent of its members believe their businesses have been directly impacted by the lack of regulation. The lost commissions represent a combined budget of more than $1 billion, and have resulted in an estimated 15,000 screen jobs lost across 61 screen businesses.
Further, only 2.9 per cent of those surveyed are more optimistic about the Australian screen industry than they were at the same point last year, with 81.2 per cent feeling less optimistic, and 15.9 per cent remaining the same.
While SPA CEO Matthew Deaner released a statement last week noting the Prime Minister’s words signalled “ongoing solid support for our creative industries and the importance of local content rules to Australia’s cultural sovereignty”, he said loss of optimism reflected in the survey results was “hardly surprising”.
“A high proportion of SPA’s screen-producing members surveyed are telling us that their businesses have been significantly and badly impacted by the delayed local content rules,” he said.
“The survey also points to a major loss of optimism about the screen industry compared to a year ago. Given these calculated estimates of the lost work, this is hardly surprising.
“The impasse over this regulation is given as the reason for a slowdown in project greenlighting, with each stalled, missed, or collapsed commission leading to millions in lost investments, job losses, business uncertainty, and less local content production that will continue to affect audiences for years.
“Without immediate regulatory action, we risk losing the diverse storytelling that defines our culture, as well as the economic benefits that come with a thriving local industry.”