Screen Australia Launches Expanded Research Program
Screen Australia has unveiled an expanded research program aimed at supporting the local screen industry and its partners. This new initiative includes the release of the Screen Currency report, which will delve into the economic and cultural value of Australian screen and games production. Additionally, a suite of audience research projects, the Viewfinder series will conduct audience research to deepen understanding of consumer behavior, helping the industry adapt to the ever-changing media landscape.
New Interactive Drama Report Highlights $1.7 Billion in Production Spending
As part of the expanded research program, Screen Australia has released an interactive version of the 2023/24 Drama Report. The report reveals that a total of $1.7 billion was spent on 169 drama productions in Australia. Of this, $929 million was dedicated to Australian-made content, marking a 29% decline from the previous year. This reduction is largely due to decreased high-budget productions, both international and domestic.
Global Economic Impact on Australian Screen Production
The report highlights the continued impact of global economic conditions on screen production. Factors such as disruptions to distribution platforms, shifts in business models, and audience behavior have influenced the market. Additionally, challenges like the US industrial action and uncertainties around the Location Offset incentive have had implications for international projects.
Screen Australia CEO, Deirdre Brennan, emphasized, “Despite the challenges, the $1.7 billion expenditure across 169 productions represents a solid outcome, particularly following the three-year peak driven by Australia’s status as a COVID-safe filming destination and streaming growth.”
Key Findings from the 2023/24 Drama Report
- Total Expenditure:
- $1.7 billion spent on 169 productions.
- 55% of the spend was directed towards Australian titles, primarily TV/VOD drama.
- Australian Content:
- $929 million spent on Australian titles, down 18% from the previous year.
- 36 Australian theatrical features commenced production, totaling $214 million in spend—down 42% compared to the prior year.
- TV and VOD Drama:
- $657 million spent on 55 Australian TV/VOD drama titles, in line with last year’s spend.
- Subscription TV/SVOD saw an increase in both spending (+17%) and number of titles (+29%).
- Free-to-air TV/BVOD saw a 32% drop in spend, amounting to $188 million.
- Children’s Content:
- Children’s content continues to face significant pressures, with a 29% drop in expenditure and a 42% decrease in production hours.
- Financing:
- Producer Offset financing contributed $245 million across all drama productions in 2023/24.
- Australian broadcasters and VOD platforms increased their investment by 36%, accounting for a third of the TV/VOD finance.
- Streaming platforms, both local and global, contributed the largest share (65%) in TV/VOD drama investment.
- State and Territory Breakdown:
- New South Wales led with 47% of total spend.
- Western Australia saw a 300% increase, with spend reaching $77 million.
- The combined states and territories of Northern Territory, Tasmania, and the Australian Capital Territory achieved a record $105 million in production spend.
Industry Insights and Future Outlook
CEO Deirdre Brennan reflects on the ongoing challenges and opportunities in the Australian screen sector: “The contraction of free-to-air TV drama and the increasing dominance of SVOD commissioning are key trends. However, we remain optimistic, confident that production levels will rise again in the year ahead.”
Screen Australia continues to collaborate with the industry to identify growth opportunities, with a focus on developing Australian children’s IP and supporting filmmakers working in the $1-5 million budget range.
