Hollywood Down Under
- Jul 28, 2022
- 2 min read
Australia is ideal for cinema-making, with a huge variation in scenery for filming locations, world-class studios and a creative hub of talent in post-production.
‘The Australian Cinema Industry is one of the largest in the world. In 2019, it was the 11th largest in terms of revenue, generating around nine million US dollars in box office revenue and around 2.5 million US dollars from the wider filmed entertainment industry.’
The Australia government has been actively advertising for several years to the global film industry to bring their business down under and are providing significant financial incentives. There is a Location Offset rebate of 16.5% on expenditure for filming locations in Australia, a Producer Offset rebate of up to 40% available to producers of Australian feature films, television and other projects.
If a production spends $500,000 on Visual Effects Work (post-productions, sound, digital effects and music) it becomes eligible for a 30% rebate on every dollar spent and depending on which Australian state or region the work is taking place, there may be an additional 5-10% on top of the 30% rebate.
Australia currently has official co-production treaties with 13 countries including the United Kingdom, Canada, China, Korea and Malaysia, facilitating economic and creative collaborations. Australia is currently negotiating co-production treaties with India and Denmark. These treaties are government-to-government agreements of audio-visual co-production arrangements that are binding at international law and provide surety in the flow of creative and financial benefits to Australia.
If co-production treaties, dramatic locations and access to significant financial rebates wasn’t enough of an incentive to bring film and television business to Australia, there’s also the strong US dollar and GB pound against the Australian dollar to sweeten the deal.
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The article highlights the financial incentives offered by Australia to attract the film industry. However, a critical examination reveals potential pitfalls. The sustainability of such measures is questionable if the subsidies wane. The reliance on external funding strategies like https://orangpendek.org/ Mystake can inhibit the development of local talent and infrastructure, ultimately undermining the industry's resilience and growth.
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