Australia’s film industry is expected to get a significant boost.
Streaming platforms like Netflix and Amazon Prime are now eligible for Australian filming incentives after the federal government announced this week they would be opening the eligibility of production costs to TV and mini-series distributed through online platforms. The goal is to boost local production in the country by giving online streaming platforms the ability to claim film tax credits if they meet other requirements.
Recently, Netflix has picked up two original Australian series including “Tidelands” and “Lunatics.” Netflix is also working on a drama with Foxtel called “Secret City: Under The Eagle” and Matchbox Pictures’ “Glitch.”
“Increased demand for our screen skills is essential to developing a sustainable sector,” Communications Minister Mitch Fifield said announcing the changes.
“Large-budget productions strengthen Australia’s capacity to produce high-quality stories for Australian and international audiences by providing skills development and training opportunities that go significantly beyond what can be achieved on smaller-budget productions,” Fifield added.
Debra Richards, CEO of locations marketing agency Ausfilm told The Hollywood Reporter, “SVODS are also major players in content and distribution globally, so the Government’s decision to include SVOD television as an eligible platform to apply for the Location and PDV Offsets supports the Australian screen industry to increase opportunities for more work, more jobs, more training, more innovation and more growth of their business. Ausfilm is delighted with the Government’s announcement of this resolution to the existing Offsets”.
This news comes a week after the government would provide a film grant of $18 million to Marvel for the movie studio to film their next feature film in Australia.
Australia’s film incentive program includes 30 percent post, digital and visual effects tax credit, a 16.5 percent locations offset and a locations incentives, capped at $25 million a year.