Supersized Aussie Screen Research Binge by Screen Australia
Australia's Screen Body Introduces Extended Research Initiative
Screen Australia has thrown open the doors on an enlarged research program, built to prop up our local screen industry and partners alike. This expansion includes the publication of the Screen Cash report, a deep dive into the financial and cultural significance of Australian-made screen and games production. Additionally, a cluster of audience research projects, the Movie Watch series, are set to dig deep into consumer habits, aiding the industry in adapting to the ever-fluctuating media landscape.
Cash-a-rama: $1.7bn Makes it to 169 Aussie Productions
Kicking off the expanded research program, Screen Australia releases the interactive version of the 2023/24 Drama Report. The report underscores a colossal $1.7 billion being spent on 169 Australian productions. Of this whopping sum, a hefty $929 million went toward Aussie-made content, experiencing a 29% plunge compared to the previous year. This downward trend can be mainly attributed to fewer big-budget productions, both local and overseas.
Global Economic Cloud on Down Under Screen Production
The report spotlights the continuous influence of global economic developments on screen production across the nation. Factors such as distribution obstacles, transformations in business models, and fluctuating audience tastes have molded the market. Furthermore, problems like the US industrial action and uncertainty surrounding the Location Rebate incentive have stirred concerns for international projects.
Deirdre Brennan, Screen Australia's CEO, declared, "Despite the hurdles, the $1.7 billion invested across 169 productions presents a substantial achievement, especially considering the three-year peak achieved due to Australia being deemed a COVID-safe filming destination and streaming's triumph."
Key Takeaways from the 2023/24 Drama Report
- Total Spend:
- $1.7 billion invested in 169 productions.
- Two-thirds of the investments targeted Australian productions, particularly TV/VOD dramas.
- Aussie Content:
- $929 million invested in Aussie projects, representing a 18% decrease from the year prior.
- 36 Aussie feature films got the green light, totaling $214 million in expenditure—a 42% decrease compared to the preceding year.
- TV and VOD Dramas:
- $657 million invested in 55 Australian TV/VOD titles, staying on par with the previous year's investments.
- Subscription TV/SVOD witnessed an uptick in both spending (+17%) and number of titles (+29%).
- Free-to-air TV/BVOD felt the pinch with a 32% reduction in spending, amounting to $188 million.
- Kids' Content:
- Children's content continues to struggle, with a 29% drop in expenditure and a 42% dip in production hours.
- Financing:
- Producer Offset funding contributed $245 million across all Australian drama productions for the 2023/24 fiscal year.
- Australian broadcasters and VOD platforms boosted their investment by 36%, accounting for one-third of the TV/VOD finance.
- Streaming platforms, domestic and foreign, dominated the TV/VOD drama funding scene, accounting for 65% of the financing.
- State and Territory Overview:
- New South Wales takes the lead with 47% of total spending.
- Western Australia witnesses a massive 300% increase, securing $77 million in spending.
- The combined states and territories of the Northern Territory, Tasmania, and the Australian Capital Territory achieved a whopping $105 million in production spend.
Screen Biz Insights and Future Perspective
Deirdre Brennan, Screen Australia's CEO, reflects on the ongoing challenges and opportunities looming on the Australian screen scene: "The contraction of free-to-air TV drama and the increasing sway of SVOD commissioning are notable trends. However, we remain optimistic, confident that production levels will rise once more in the year ahead."
Collaborating with the industry to identify growth opportunities, Screen Australia is keen on advancing Australian approaches to children's IP and assisting filmmakers with budgets ranging between $1-5 million.
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In the absence of specific enrichment data, the economic and cultural value of Australian screen and games production remains difficult to quantify accurately. However, it is clear that such sectors provide substantial contributions to both local and global markets, while also playing significant roles in cultural expression, tourism, and creative identity. As for changes in production spending, more specifics can be garnered from the recently unveiled Screen Australia research program and its forthcoming reports, such as the Screen Cash report and the Movie Watch series.
- The Screen Cash report, a comprehensive analysis of the financial and cultural significance of Australian-made screen and games production, is published by Screen Australia as part of their expanded research program designed to support the local screen industry.
- To adapt to the constantly evolving media landscape, industry partners can benefit from the audience research projects, specifically the Movie Watch series, which aims to uncover consumer habits within the Australian market.
