Five of the major streaming services collectively spent $670 million in 2022 on Australian and Australian-related programming.
👉 Background: We officially/unofficially have a big five in the on-demand entertainment world. Netflix (aka the Lion), Disney+ (aka the elephant) as well as Amazon Prime (aka the rhino?), Stan and Paramount+.
👉 What happened: These five collectively spent $670 million in 2022 on Australian and Australian-related programming. Think: Luxe Listings, Five Bedrooms and The Other Guy. And yes, the re-booted Neighbours will be on Amazon.
👉 What else: Now, part of this is to attract new Aussie subscribers. But the other reason is because the federal government has announced new Australian content quotas for streaming services.
💡A quota is essentially a minimum or maximum amount that is required to be contributed towards a particular activity.
💡You might have heard of quotas before… like diversity quotas that exist in companies or in parliament. In this case, the government is introducing mandatory “content quotas” to protect Australia’s creative industry.
💡We’ve seen free-to-air TV networks struggle with the rise of streaming services, so the Federal government is introducing a content quota where streaming services need to offer a minimum number of Aussie projects. They haven’t yet decided what the exact quota will look like but they’ve confirmed it’s coming to streaming service near you... soon!
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