Pay-TV sector invests $500m into Aussie content last year
More than half a billion dollars was invested by the Pay-TV sector into Australian content last year, a new study shows.
“The $541.4 million investment by the subscription industry represents a 26 per cent increase between 2007 and 2009 and clearly demonstrates the significant financial contribution subscription television is making to entertainment in Australia,” Steve Bracks, chairman of ASTRA – which did the survey – said in a statement.
“This survey is indicative of subscription television’s support for Australian talent and content creators.”
The figures, released today, included production investment across all subscription TV platforms such as movies, light entertainment, news and sport.
FOXTEL and AUSTAR subscription TV platforms are received by 34 per cent of people Down Under through their homes and more than a million through hotels, clubs and other entertainment/business venues.
“The subscription television audience…grew during the GFC [Global Financial Crisis] when many households were curbing discretionary spending, confirming that Australians want and value subscription television,” Bracks said.
“As an industry sector, we are innovative, dynamic and very responsive to consumer demands and our investment in local stories reflects this.”