Australian TV drama expenditure has reached a record high of $376 million.
The production boom shows no sign of slowing down: More money is being spent on drama in Australia than ever before, and significantly, the majority of spend is occurring on local projects.
It's no secret that Australia experienced a significant production boom during the 2020-21 financial year, but Screen Australia has finally crunched the numbers to reveal a record $1.9 billion was spent on drama production across the period.
Some $1.17 billion was spent on drama production in Australia in the last financial year - the second highest year on record and more than 50 per cent up on the previous year - driven by all-time high expenditure on local content and significantly bolstered levels of foreign spend.
A record $718 million was spent on Australian feature films, TV dramas and online programs in 2017-18, up 7 per cent on the prior year, mostly due to a boom in co-productions.
The annual drama report, encompassing film and TV, has been released by the government agency
Total screen drama production in Australia has increased a healthy 11 per cent from last year, raising the total spend to $837 million - the highest on record.
The last financial year saw the amount spent on drama production in Australia crack $1 billion for the first time, thanks in part to record levels of foreign project spend and bolstered local feature film production.