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Australia is set to enact legislation requiring digital services to invest a specified amount of revenue in homegrown content, as announced by official sources on Tuesday.

Services such as Amazon Prime along with additional streamers that have 1M subscribers will need to contribute at least 10% of their Australian expenditure alternatively seven and a half percent of revenue toward local content.

The law is being presented to parliament this week and will apply to arts and educational content.

Government representatives announced the move is designed to protect acting jobs within the sector. The platforms are yet to commented on the matter.

'Remarkable productions'

"We have local production requirements for broadcast TV and subscription services, however previously, there has been assurance that we could see our own stories via digital platforms," a government representative commented.

"Since their introduction in Australia, streaming services have produced some extraordinary series. These requirements will ensure such productions – Australian content – continue to be made."

As reported by sources, the law is scheduled for presentation to legislators in the coming days.

These updated content requirements were meant to be in place by July last year but concerns regarding potential conflicts with a free trade agreement involving America resulted in the initiative being put on hold.

The government cited challenges engaging in discussions with American counterparts while it was holding an election.

Following the U.S. election, there was then concern about whether the rules might prompt the US administration to impose retaliatory tariffs against Australia.

Now, with the dust settled, and with improved relations internationally, those rules have returned for consideration.

Although industry groups applauded the news, streamers are still to issue statements on the matter.

Back in 2022, streaming platforms published a report emphasizing their artistic and financial contribution to the country's entertainment sector.

Nonetheless, it was seen by some as a pre-emptive strike in anticipation at future regulation.

Industry decline

Recent local productions on streaming platforms include various series across different genres.

Similar to other nations, Australia's creative industries have suffered recently, in part due to the production slump during the Covid-19 pandemic.

In the financial year recently concluded, funding for movies and television dramas produced domestically fell by nearly 30%, as reported by sector data.