U.S. Labor Strikes, Economy & Incentive “Uncertainty” Led To 29% Declines In Drama Spend, Says Screen Australia

deadline.com:

The U.S. labor strikes, global economic conditions and uncertainty around incentives were key factors in the 29% drop in drama production spend in Australia in 2023/24, according to Screen Australia.

Revealed in the Screen Australia Drama Report released today was that total spend was well down year-on-year at A$1.7B ($1.1B), with only A$929M spent on Australian stories, down 18%.

Screen Australia CEO Deirdre Brennan has called on the industry to reunite to combat the myriad issues facing the market. Screen Producers Australia has already claimed the report had confirmed the “collapse” of investment in drama.

Screen Australia was keen to provide more color on the fall, noting that a “reduction in high-budget production activity across international TV and Australian theatrical features” had occurred, combing with weak global economics that caused “disruption across distribution platforms, business models and audience shifts influencing the market.” The U.S.