Australia Reports Record Drama Production Expenditure Of $1.5BN; Spend Shifts Towards Local Films & Series As Streamers Ramp Up Investment
deadline.comProduction expenditure on Australian scripted content reached an all-time high of A$2.29BN ($1.47BN) in the 2021-2022 period to June, according to Screen Australia’s annual drama report, with a record A$1.51BN spent on Australian titles and A$777M on foreign productions.
Overall, A$2.29BN was spent across 162 productions that started production or post-production in Australia during the period, compared to A$1.94BN spent across 163 productions in 2020/21.
The report said the increase was driven by a record spend on Australian theatrical features (A$786M up from A$495M last year), as well as a record spend on Australian subscription TV and SVOD titles, for which production volume has tripled compared to the previous year.
However, spend on foreign productions shooting in Australia dropped by 44% from its record high in the previous year to A$442M, although the report noted this figure was still 19% above the five-year average.
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