Australian Drama Production Expenditure Slips

A new report from Screen Australia reveals that A$1.7 billion ($1.1 billion) was spent on 169 drama productions in Australia in 2023/24, a 29 percent decline from the previous year.

The local expenditure took a hit due to a decline in high-budget production activity across international TV as well as a reduction in domestic feature films.

The report found that A$657 million was spent on 55 Australian general TV and VOD drama titles, on par with the previous year. This includes A$467 million spent on 27 SVOD titles, a 17 percent increase in spend and 29 percent increase in volume. Spending on free-to-air/BVOD dramas fell 32 percent to A$188 million on 15 titles. Children’s drama is under pressure, with the volume down from 8 to 12 and spend falling 29 percent.

Another key finding is that investment from Australian broadcasters, VOD platforms and distributors increased by 36 percent. Australian independent and global streaming platforms contributed the largest share of investment (65 percent) in TV/VOD drama across 26 titles. Expenditure on international productions filming in Australia fell 39 percent.

“Expenditure of A$1.7 billion on 169 Australian and international drama productions represents a solid result after a three-year peak driven by Australia’s status as a Covid-safe filming destination, streaming growth and a number of high-budget theatrical features,” said Screen Australia CEO Deirdre Brennan. “The Drama Report is one of many resources providing insights into the opportunities and challenges facing the Australian screen sector. This year’s results confirm key trends in domestic activity, a contraction of free-to-air commercial TV drama and the increasing role of SVOD commissioning. Children’s content continues to face significant pressure and remains reliant on government support, so we’re working to broaden the opportunities for development of Australian kids IP. We will also explore the needs of feature filmmakers working in the A$1-5 million budget range, dominant again in this year’s data.”

Brennan concluded: “We understand how competitive funding is, with Screen Australia supporting 27 percent of the direct funding applications received for scripted content in 2023/24. In an environment where international financing is also increasingly harder to source, we need to pull together as an industry to ensure the sustainability of the sector. Despite these challenges, we’re optimistic about the future and confident that there will be an uplift in production in the year ahead. Screen Australia will continue to collaborate with industry to identify growth opportunities and ensure Australian screen stories thrive.”