Australian Screen Sector Applauds Investment in Screen Stories & Talent

Australian Screen Sector Applauds Investment in Screen Stories & Talent – Screen Producers Australia (SPA) welcomes last night’s Budget, which contains some great news for the Australian screen industry. SPA is particularly delighted about the announcement that the cap on ‘above the line’ costs for the Producer Offset is being abolished from 1 July 2024.

“This is terrific news for Australia’s screen producers and puts Australian screen stories on a more even playing field with international projects that are not subject to this cap,”

– said SPA CEO Matt Deaner.

“SPA worked hard to bring this matter to the attention of the Australian Government this year. After consultation with members on the overall screen incentives framework, SPA made several wide-ranging recommendations to the Government in our submission on the announced changes to the Location and Producer Offsets.

“In that submission, SPA strongly argued for the Australian Government to review the settings, cost and benefits of both the Location Offset and Producer Offset to ensure that home-grown Australian screen projects can more easily access taxpayer support and that the cap on Above the Line costs does not unduly disadvantage local projects.

“SPA recommended that the cap in the Producer Offset on ‘above the line’ costs be removed as an immediate step.

“The Budget announcement will provide a much-needed boost in confidence to Australian screen businesses focused on telling Australian stories. No longer will their budgets be held back while international projects are unconstrained.

“It is also welcome news that the minimum length requirements are also being removed from the Producer Offset. This measure, combined with the new funding of $14.5m to support the Australian Children’s Television Foundation (ACTF), is an important boost for Australia’s children’s screen producers.

“We are pleased that the ACTF can continue its important work in supporting new screen projects for our much neglected but vital child audiences.

“The important work of addressing capacity issues in the screen industry has also been recognised in the Budget with the $115.2 million announced for Australia’s eight national arts training organisations to ensure their continued operation to support the development of creative talent across screen, music, performing arts and dance.

“SPA congratulates the National Institute of Dramatic Art (NIDA), which will receive $51.9 million to enable it to continue to ensure Australia nurtures future generations of Australian storytellers.

“The Australian Film Television and Radio School (AFTRS) is a critical part of our industry ecosystem, and we are pleased it has received $23.2 million, which means it can continue to offer the number and range of courses offered to students.

“At a time of skills shortages and capacity issues across the creative industries, this investment supports a foundational element of our industry.

“Finally, preserving our screen heritage is vitally important, and the investment of $9.3 million to enable the National Film and Sound Archive capacity to store highly flammable nitrate-based cultural heritage material that was at risk of being lost is strongly welcomed.

“On behalf of Australia’s screen producers, I warmly welcome these new measures, which demonstrate that the Australian Government truly values and supports our creative industries.