According to the Olsberg SPI report, Australia’s production offsets boost the local economy by US$11.4 billion

According to a study by British consultancy Olsberg SPI, Australia’s film and television incentives contributed a total of US$11.4 billion (AUD16.5 billion) to the country’s economy in the four years ending in FY201/22.

The report also found that Australia’s offset programs support its status as a major manufacturing hub. In 201/22, total manufacturing spending in Australia rose to more than US$1.5 billion (AU$2.2 billion), an increase of 91% over the four years studied.

Disney’s is one of the major productions filmed in Australia in the last four years Thor: Love and Thunderuniversal Entry ticket to paradise, woody woodcutter And metropolisLegendary entertainment Godzilla vs Kong 2 and Netflix shows sad high, Hair And God’s favorite idiot.

The report found that Australia’s 16.5% site compensation aimed at foreign film and television production resulted in a return of $4 (AUD5.89) for every AUD1 raised through the scheme.

Australia also offers a 30 percent post, digital and visual effects (VFX) offset that is also targeted at inbound production and a 30-40 percent production offset that is more focused on local productions as it is subject to a Australian culture test.

In addition, the location incentive program provides a performance-based grant of up to 13.5% of eligible production costs, supplemented by an additional US$277 million (AU$400 million) in 2020.

The Olsberg SPI report, entitled ‘Study of the Impact of Film and Television Production Incentives in Australia’, was launched today by the Australia New Zealand Screen Association (ANZSA) and the Motion Picture Association (MPA) at an event at Parliament House in Canberra presented. presented.

Producer Jon Kuyper, who has worked on productions among other things, spoke during the event Mad Max: Fury Road, Thirteen lives And woody woodcutter in Australia, said: “Australia’s combination of attractive incentives, world-class teams and facilities and magical locations make it a world leader in inbound manufacturing. However, it is essential that we see some certainty about the site balance if the country is to realize its full potential as one of the world’s leading manufacturing centres.

Ausfilm CEO Kate Marks said: “International productions, alongside Australia’s domestic productions, play a crucial role in the growth of the overall Australian film ecosystem. A permanent 30% site balance will ensure a consistent pipeline of both physical production and PDV activities and strengthen Australia’s position as a leader in the global screening industry.”

Schuyler Weiss General Manager at Baz Luhrmann’s Bazmark Films who filmed elvis in Australia, said: “Producer Offset enables Australian storytellers to turn an idea into reality and this report shows that even on purely economic grounds it is good business for Australia because for every dollar spent, Worth $4.40.” economic value is generated Producer compensation extends far beyond the display sector.”

Australia will add three new studio facilities in Western Australia, New South Wales and Queensland in the near future. A statement from ANZSA said: “The production pipeline is growing at a record rate, raising the demand for further additions, extensions or reform of the location incentive to facilitate exemptions in line with competing countries such as the UK and continued growth around the sector” to give a boost.”