Film and TV industry contribute $6.1B to economy
The Australian film and television industry injects $6.1B into Australia’s economy according to a report released by Access Economics at the Australian International Movie Convention.
The report assessed the economic contribution of the film and television industry in its entirety, which included large exhibition businesses to online viewings and television networking.
The $6B figure derived from the 2009-10 financial year. The value had increased by $5.1% since the previous assessment in 2006-07.
The figure represents more than that of the aviation industry, which contributed $4.1B.
The Government recognised this in a 2009 government report entitled Australia’s Digital Economy: Future Directions, stating that “…content is the key driver of digital economy growth…” and that the “digital economy is essential to Australia’s productivity, global competitiveness and improves social well-being.”
Speaking at the launch at AIMC, actor Roy Billing said, “It would be hard to imagine what our society would be like without screen entertainment: In purely economic terms, it is a substantial contributor to our economy, as this report makes clear – but culturally, it’s much more difficult to put a price on it. This is an important study for understanding how our business has grown, how many jobs it supports, and how we contribute to Australia’s economic and cultural make-up.”
Executive Director of the National Association of Cinema Owners (NACO), Michael Hawkins said, “It is encouraging to see how the film and TV industries make such a significant contribution to jobs and the Australian economy. Australian cinemas, for example, continue to offer full and part time jobs for city and regional communities, employing the full-time equivalent of over 6,000 jobs. Over and above that, the local cinema provides a cultural hub for the community, offering a friendly place for people to meet, socialise and enjoy great entertainment.”
Other key findings of the Access Economics Report include:
- The industry generated a total output of $20.2 billion, rising from $16.8 billion in 2006-07
- The industry contributed a total of $6.1 billion, rising from $5.8 billion in 2006-07
- The sector contributed an estimated $1.95 billion in tax to the Australian government in 2009-10, rising from $1.8 billion in 2006-07
- The total industry supported 48,667 full time equivalent jobs
- Free-to-Air TV contributed almost $1.9 billion in value added
- The production sector contributed $852 million in value added
- The distribution sector contributed $832 million in value added
- The digital contribution of the film and television industry is estimated to be $4.1 billion
For more information or to obtain a copy of the Access Economics Economic Contribution of the Film and Television Industry 2009-10, visit The Australian Federation Against Copyright Theft
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