Australia’s movie and tv incentives contributed a complete of $11.4BN (A$16.5BN) to the nation’s financial output for the 4 years to the 20201/22 monetary yr, in response to a research by UK-based consultancy Olsberg SPI.
The report additionally discovered that Australia’s offset applications underpin its standing as a significant manufacturing hub. In 20201/22, whole manufacturing expenditure in Australia grew to greater than $1.5BN (A$2.2BN), a rise of 91% over the 4 years studied.
Major productions to shoot in Australia over the previous 4 years embody Disney’s Thor: Love And Thunder, Universal’s Ticket To Paradise, Woody Woodpecker and Metropolis, Legendary Entertainment’s Godzilla vs Kong 2 and Netflix reveals Heartbreak High, Pieces Of Her and God’s Favorite Idiot.
Drilling down into the assorted incentives, the report discovered that Australia’s 16.5% Location Offset, geared in direction of offshore movie and TV productions, resulted in a $4 (A$5.89) return for each A$1 invested by this system.
Australia additionally gives a 30% Post, Digital & Visual Effects (PDV) Offset, additionally geared in direction of inbound manufacturing, and the 30-40% Production Offset, geared extra in direction of native productions because it’s topic to an Australian cultural check.
In addition, the Location Incentive Program gives a merit-assessed grant of as much as 13.5% of qualifying manufacturing expenditure, which was topped up with a further $277M (A$400m) in 2020.
The Olsberg SPI report, entitled ‘Study on the Impact of Film and Television Production Incentives in Australia’, was launched right this moment by the Australia New Zealand Screen Association (ANZSA) and the Motion Picture Association (MPA) at an occasion at Parliament House in Canberra.
Speaking on the occasion, producer Jon Kuyper, who has labored on productions together with Mad Max: Fury Road, Thirteen Lives and Woody Woodpecker in Australia, mentioned: “Australia’s combination of attractive incentives, world class crews and facilities, and magical locations mark it as a global best-in-class for inbound production. However it’s vital that we see some certainty around the location offset if the country is to achieve its full potential as one of the world’s leading production hubs.”
Ausfilm CEO Kate Marks mentioned: “International productions play a crucial role alongside Australia’s domestic productions in growing Australia’s entire screen ecosystem. A permanent 30% Location Offset would ensure a consistent pipeline of both physical production and PDV activity and cement Australia’s position as a leader in the global screen industry.”
Schuyler Weiss Managing Director at Baz Luhrmann’s Bazmark Films, which filmed Elvis in Australia, mentioned: “The Producer Offset allows Australia’s storytellers to turn an idea into reality, and this report shows that even purely on economic grounds that’s a good deal for Australia, with $4.40 in economic value generated for every $1 spent on the Producer Offset reaching far beyond the screen sector alone.”
Australia is ready so as to add three new studio amenities throughout Western Australia, New South Wales and Queensland within the close to future. A press release by ANZSA mentioned: “The production pipeline is growing at a record rate, feeding a surge in demand for a further top-up, extension or reform of the Location Incentive to simplify the reliefs in line with competitor countries, such as the UK, and continue to boost growth in the sector.”
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