Netflix Australia has announced that they made more than $1 billion in revenue in the last year. Their huge revenue and market dominance demonstrates the need for the implementation of local content quotas.
Greens Communications spokesperson, Senator Sarah Hanson-Young said:
“Another global tech giant making billions of dollars off the back of Australian households, its time they started giving back – clearly they afford it!
“We need laws fixed so some of the massive profits these tech giants make are invested back into the local industry, supporting local jobs and content.
“Today, Netflix has confirmed what we have long suspected; they are making huge profits off Aussie subscribers, and almost all of the revenue is sent overseas.
“The money spent by Australian consumers should be invested back into quality Australian content. As more and more of us choose to watch our content online, it is essential that we see our communities, culture and stories reflected back to us.
“We need quotas on streaming services like Netflix now. The Government has been promising to bring legislation on this for the past year.
“The Greens want to see a 20 per cent of local revenue quota implemented with sub quotas for children’s programming, drama and documentary and appropriate intellectual property protections for local creators.”