Coronavirus: Australian Film Industry Loses Nearly $500 Million

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The Coronavirus COVID-19 pandemic has rocked the Australian film industry.

According to reports, the suspension or postponement of 119 screen productions, resulted in a loss of $471 million.

The Screen Producers Australia updated their screen production survey on the impact of the virus. The survey found $20 million in export revenue was lost, bringing the total to $100 million.

List of productions that are shut down or delayed include the following Neighbours, Wakefield, Australia’s Got Talent, Back to the Rafters, Wentworth, Five Bedrooms, Harrow, The Voice Australia, The Bureau of Magical Things, Why Are You Like This?, Yes, Chef!, RFDS, The Real Housewives of Melbourne, Little J & Big Cuz, The Block and The Bachelor Australia.

Other productions include Marvel Studio’s ‘Shang-Chi & the Legend of the Ten Rings’ and Bar Luhrmann’s untitled Elvis Presley biopic for Warner Bros.

Analysts estimate the damage to the film industry will be more than $2 billion, affection over 30,000 people.

“The good news is that some work continues to be made across varied genres such as children’s animation, light entertainment, documentaries and, potentially, drama in the weeks ahead. There are many hours of content already produced and awaiting release on broadcasters and distributors’ shelves,” said SPA CEO Matt Deaner.

Deaner is now calling for the Federal Government to implement a $1 billion content fund to spread over the course of four years to help local production during this time of crisis.

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