Creating Australian TV is expensive. The Screen Australian Drama Report 2015/16 outlined Australian TV producers created 561 hours of TV drama, the average cost was $670,232 per an hour in the 2015/16 financial year.
Australian stories are funded by a variety of funding bodies, some of these include: Film Victoria and Screen Australia. Funding also comes from private investors. The Australian Government has implemented the Producers Offset Tax. This tax incentive gives media companies and producers a large tax offset if their product meets a certain criteria. Key items in this criteria include: product uses Australian subjects and locations, product is an Australian co-production and having expenditure in Australia (such as hire of land or locations). The table to the right shows the funding breakdown for Australian TV. We can see looking at a 5 year average;
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Screen Australia Drama Report 2015/16
Contributes to annual Australian TV/online slate |
budget cutsThe 2018/19 federal budget has been released and it revealed that the Government will reduce ABCs annual funding over the next 3 years. This comes into action from July 2019. The funding cut will cost the organisation $84 million dollars.
What impact do you think this will have on the ABC? |
"The Government has announced it will freeze the ABC's annual funding indexation for three years from July 2019, costing the organisation $84 million." |