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Australian Screen Industry Investment Plummets, Report Shows
VarietyStory by Naman Ramachandran
scrn logline
Australia's screen industry faces a major financial slump as production spending plummets by nearly 30% in 2023-24, according to a new report.
beat sheet
- Screen Australia's latest Drama Report shows a staggering 29% drop in total industry expenditure, with spending falling to AUD1.7 billion ($1.08 billion) - a significant blow for the local entertainment sector.
- The downturn impacts multiple segments, including a notable reduction in free-to-air drama and theatrical feature investment, with Australian title investment declining by 18% from AUD1.128 billion in the previous year.
call sheet
Naman Ramachandran, Screen Australia, Screen Producers Australia