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Australia’s new golden era: Entertainment sectors set for record growth
Blockbusters and big budgets
A host of major movies were made Down Under, including Furiosa: A Mad Max Saga, which didn’t just break film production records, it smashed them, to become the most expensive film ever made in Australia. Production costs topped $333.2 million and more than 3000 people were employed throughout the process.
By the end of August this year, 31 feature films and shows in pre- through to post-production and more than 90 new screen-based projects were in various stages of production across the country.
This comes off the back of the Australian Bureau of Statistics (ABS) and Screen Australia revealing 83 per cent growth in film and video production employment in their 2021/2022 Film Television and Digital Games Survey.
To keep that momentum building, the Australian Government announced the removal of the 20 per cent above-the-line cap from the Producer Offset (for producers of Australian feature films, television and other projects). In a nutshell, this means scrapping the restrictions placed on Australian producers when using major creative talent to make it easier than ever for producers to access top-tier homegrown talent.
As our General Manager, Adam Moon, puts it: "The numbers don’t speak – they shout.
“These are game-changing rebates that are more than just a flash in the pan for Australia. They’ll bring significant investment, infrastructure development and job creation, and establish Australia as a global leader in the entertainment sector.
“Over the coming years, we’ll see bigger productions, more local jobs, and an influx of international talent to match our growing homegrown stars.”
The result? More jobs, more investment in local infrastructure, and a boost to Australia’s global reputation as a hub for world-class film production.
And speaking of local infrastructure, Screen Queensland Studios in Cairns saw a $12.6 million complex recently unveiled to deliver even more opportunities for filmmakers and locals. We’ll cheers to that!
Australia’s music scene hits new highs
It’s not just our screens that are dominating the golden era limelight either.
The report dives into the nation’s music scene to reveal the record-breaking tours that shaped our sector over the past year and what’s in the pipeline.
Single-act stadium concerts exploded in popularity, with Taylor Swift’s Eras Tour selling over 600,000 tickets in Australia within minutes. Yes, you can put this down to the Swift effect. But her record-breaking shows are just one example of the massive demand for single-act stadium concerts across the country.
Over the next year we’ll see Olivia Rodrigo, Travis Scott, Coldplay, James Blunt and Billie Eilish head Down Under (to name a few).
While single-act tours are thriving, the report reveals the nation’s festival scene is singing a bit of a different tune. In case you missed it, Victoria’s iconic Falls Festival cancelled its 2023 event, citing a need for a break and this year Groovin’ the Moo scrapped its 2024 edition. And the list goes on.
We explored this shift here (spoilers, young Aussies find the cost and logistical challenges of festivals to be a deterrent). We also explored whether it’s the end or if festivals are gearing up for a comeback. Afterall, the Australian Government recently stepped in to support the local music scene (including festivals) with its $8.6 million Revive Live program aimed at bringing life back to smaller venues and festivals hit hard by the pandemic.
So, what’s next for Australia’s entertainment sector?
Explore more by accessing our FREE 2024 Sports and Entertainment Travel Industry Insights Report
