Why is the Aussie film and TV industry soaring high?

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Summary

• After the most damaging crisis affected the production industry, Australia is back on its feet and shaping up as a popular destination for international projects.
• The federal government has approved A$400 million for movies and companies that experienced a lack of work during the pandemic.
• Stars like Zac Efron, Tom Hanks, Nicole Kidman, Liam Neeson, and others are already in Australia working on international projects for Hollywood and streaming services.

Australia seems to be turning out as a favourite spot for the film industries worldwide as the nation faces high demand for blockbuster locations, courtesy the flattened coronavirus curve.

The government is loosening restrictions across the continent, which makes Australia a gold mine for TV streaming platforms and Hollywood production movies.

Currently, Disney, Netflix, and Stan have been using the Australian soil for filming new entertainment content, bringing a sense of assurance to actors and film crew across the nation, including rural Australia.

After the federal government granted A$400 million to the industry, AusFilm highlighted that the incentive is helping confirm productions worth over A$2 billion. Currently, there are 37 of them that need to be executed, which is showing a significant increase compared to last year.

Due to recent events triggered by the coronavirus pandemic, AusFilm CEO Kate Marks stated that Australia is now, more than ever, a ‘winning combination’ of best global talents, for shooting and editing movies in post-production.

The country has been mostly COVID-free for a large number of days, so there is no surprise that major companies from Hollywood have cherry-picked Australia as their filming spot.

AusFilm explained what significance the A$400 million government incentive had on the industry by pushing international movies all over to land down under. Seven international ventures have been newly signed for shooting, while ten other projects were already agreed on.

Ms Marks is optimistic about the overall growth and recovery of films and TV shows in both domestic and international areas but says it will take time. For now, Australia is right on track, which will prove to be significant in years to come.

She also added that diversified productions on the continent would ensure that both emerging and existing companies find their way under the sun in the post-pandemic filming world. Even if those firms decide to invest in international assemblies, profit will bounce back boomerang-style, as the country will gain broader recognition from the right audience.

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How did COVID-19 impact the industry?

Many filming productions, artists, and crew were either out of their jobs or suffered disruption in work hours.

Coming to rescue, Screen Australia distributed A$8 million to boost the production funding of 10 projects that were adversely hit or shut down in the wake of the pandemic.

The government had already boosted more than 20 filming productions with funding incentives, including 15 projects that will take place next year.

What are some of the notable projects currently being filmed?

Many Hollywood stars are currently residing in Australia due to new movies in the making. Tom Hanks is presently shooting for Elvis in Queensland, while Nicole Kidman and Chris Hemsworth are waiting for their productions, Nine Perfect Strangers and Spiderhead, respectively.

Hollywood sweetheart Zac Efron too, is working on an original Stan movie titled Gold.

International productions such as those mentioned above bring around A$380 million to the Australian economy every year.

Federal government experts believe that the Australian film industry is set to garner even more fame, as big celebrities are doing an excellent job of promoting the country. Some production studios have already experienced booked-out locations, such as Docklands in Victoria.