SPI’s Study on the Impact of Film and Television Production Incentives in Australia Published
SPI’s report on the Impact of Film and Television Production Incentives in Australia was published today following the launch event hosted by Australia New Zealand Screen Association (ANZSA) and the Motion Picture Association (MPA).
The Australian Screen Production Incentive (ASPI) is a key Australian Government mechanism for investing in film and television production. Through the ASPI, the Government operates incentives for domestic and international film, television and other screen production via three incentive schemes: Producer Offset, Location Offset and Incentive, and PDV Offset.
SPI’s study into the impact of the ASPI found that Australia’s film and television industry is a thriving economic sector, with the three initiatives providing key support to its growth. This study demonstrates that the ASPI helps deliver economic impact on a consistent basis, as well as leveraging wider strategic impacts, including screen tourism and infrastructure investment.
There has been a significant increase in expenditure associated with incentive productions, reaching over A$2.1 billion in 2021/22 across the combined three incentive schemes. Similarly, there has been an annual growth rate of 17% in direct expenditure across the three schemes between 2017/18 and 2021/22.
This expenditure has led to consistent economic impacts for Australia. Between 2018/19 and 2021/22 the three incentives supported A$5.9 billion in Gross Value Added (GVA), and, in 2021/22, supported 20,600 full-time equivalent (FTE) jobs.
In addition, the three Offsets have delivered a combined economic return on investment (RoI) of 4.91, showing that for every A$1 of net investment, the Australian economy benefited from A$4.91 in additional GVA.
This study uses established, international best practice to demonstrate the value in terms of direct, indirect and induced economic impact, as well as wider spillover impacts such as screen tourism and investment in infrastructure. It also includes micro-impact measures in the form of vendor heat maps and ripple effect analysis to further demonstrate the value and impact of screen productions.
Download an infographic of the ASPI’s key economic impacts here.
Download the full report here.
Further information on SPI’s Economic Impact Studies can be found here.
Please contact SPI Consultant Kayleigh Hughes if you would like to hear more about this study.