Australia reports record spending on drama production of US$2.3 billion; Shift to local movies and series as streamers invest more

Australian spending on scripted content production reached a record $2.29 billion from 2021-2022 to June, according to Screen Australia’s annual drama report, with a record $1.51 billion spent on Australian titles and US$777. million to foreign productions.

A total of US$2.29 billion was spent on 162 productions that began production or post-production in Australia during this period, compared to US$1.94 billion spent on 163 productions in 2020/21.

According to the report, the increase was due to record spending for Australian films ($786 million compared to $495 million last year) as well as record spending for Australian subscription TV and SVOD titles, which tripled in production volume compared to the previous one. Year.

However, spending on foreign productions filmed in Australia fell 44% from the previous year’s record to $442 million, although the report found the figure was still 19% above the five-year average. Incoming productions during the period include: Joe vs. Carole, nautilus and second seasons of La Brea and young skirt

International mail, digital and visual effects (VFX) spending reached a new high of $335 million, up 22% year-over-year, including titles border areas and Lyle, Lyle, crocodile.

The Australian Location Incentive grant program runs through 2026/27 and has supported six foreign dramas in 2021/22. The increased pure PDV activity was supported by the Australian government’s 30% PDV offset.

Graeme Mason, chief executive of Screen Australia, said: “It’s an incredible milestone for our industry to exceed $2 billion and it’s a truly record year for Australian scripted content – local production accounts for a whopping 66% of that spend .It is clear that Australian stories continue to captivate audiences at home and abroad sad high Reach the top 10 in international Netflix charts and shows bluish to Bump Take the world by storm.”

Spending on Australian films during this period reached a record $786 million, up 59% year-on-year, although overall production fell as investment focused on bigger-budget titles such as George Miller. furiousRobbie Williams biopic better person and Garth Davis sci-fi thriller Enemy. Most projects were made for more than $5 million, while the number of titles dropped to less than $1 million.

“It’s no secret that the content landscape for film, television and online has changed and viewing habits are constantly evolving,” says Mason. “This is most evident in the reduction in films produced for theatrical release, the shift in spending on drama from television to online platforms, and the increasing spending on premium drama.”

Spending on Australian dramas produced for subscription TV and SVOD services rose to a record $445 million across 29 titles, up from $119 million across just nine titles last year. Production rose across most platforms, including Stan, which had seven titles including: Poor behavior and Bump Series 2 and 3, while Netflix, Amazon Prime and Paramount+ each had four Australian titles in production.

Spending on television and streaming projects as a whole also increased — nearly doubling to $655 million across 62 projects. But due to global trends, spending on free-to-air and BVOD (Broadcaster Video on Demand) has steadily declined since 2000/01, when 715 hours of general drama was produced for free-to-air TV. Only 278 hours were generated this year, although spending increased slightly by 8% year-over-year to $208 million.