Following two investigations into Arts funding by MWM, Minister Tony Burke has promptly sallied forth with a local content announcement after two elections of promises. What’s the scam?
The scam is the proposal for foreign streamers to deliver “real Aussie content that matters” is a dream outcome for the streaming lobby. Announced in the heat of Melbourne Cup day, after secret briefings for friendly media, the new provisions give Netflix and co the choice of stumping up 7.5% of their revenue or 10% of their expenditure (probably whatever they happen to declare in their Australian subsidiary financials) for local production.
“Burke gets the fig-leaf he needs. Steamers get what they want,” film producer Simon Nasht told MWM. There is no escalator clause. Originally, the streamers were dealing with the spectre of 10% of revenue going to 20% of revenue.
The streaming lobby, just like the gaming lobby has got the government right where they like it.
Story to come, also the draft legislation – the devil will most surely be in the detail.