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Australia will introduce laws requiring streaming platforms to invest set amounts of money in Australian content, the government said on Tuesday.The centre-left Labor government will require the platforms to invest at least 10% of total expenditure in Australia or 7.5% of revenue to new Australian drama, children's content, documentaries and arts and educational programmes, Arts Minister Tony Burke and Communications Minister Anika Wells said in a statement.* Australia has local content quotas for free-to-air television but not for streaming services such as Netflix, Display+ and Amazon.* "Since their introduction in Australia, streaming services have created some extraordinary shows," Burke said. "This obligation will ensure that those stories - our stories - continue to be made."* Plans to introduce local content quotas for mostly U.S-based streamers may disrupt trade relations with the U.S., Australian media has reported.Live Events* The government did not say how the quota options - 10% of expenditure or 7.5% of revenue - would be calculated.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onAustralia streaming services investmentlocal content quotas Australiastreaming platforms Australian content lawsAustralian drama children's contentNetflixDisplay+ (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onAustralia streaming services investmentlocal content quotas Australiastreaming platforms Australian content lawsAustralian drama children's contentNetflixDisplay+(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
