NSW Budget: here’s what the media and marketing industry need to know
The Minns government has delivered its first NSW budget – a well-received one for some parts of the arts and media sector, but a damning one for others. Here’s everything you need to know.
Boost to regional print advertising
As promised during its election campaign, the Labor government has delivered $3 million in ad spend to regional and community print outlets across the next three years.
The NSW Government has also doubled the Regional Media Fund to $6 million dollars, with the purpose of supporting regional media’s digitisation.
“By supporting advertising in regional print publications, the NSW Government is making sure regional audiences are aware of relevant programs and support, like grants and rebates available to them, bushfire readiness reminders, and updates on local infrastructure,” said Minister for Customer Service and Digital Government Jihad Dib.
Print advertising has been a hot topic in state spending this year, with the Victorian Government putting an end to its metropolitan print newspaper advertising in July.
However, Victoria said it will maintain its focus on rural and regional messaging, including in available local press, which accounts for 20% of all campaign spend, as well as dedicated multicultural messaging, which accounts for 10% of spend.
The screen industry hit hard
Earlier this month, it was revealed that the previous Perrottet government had quietly made close to $190 million of funding cuts across various arts, tourism and business initiatives.
According to Arts Minister John Graham, the cuts were made days before the March election and had remained a secret until this month.
The string of programs included the Made in NSW fund, an initiative that was designed to attract “international and domestic significant feature film and major TV drama production” to the state, according to Screen NSW’s website.
The Made in NSW project has funded works including Disney Studios Australia’s Kingdom of the Planet of the Apes (premiering in 2024) and the 2017 feature film Cargo starring The Hobbit’s Martin Freeman.
Meanwhile, funding for the Post, Digital and Visual Effects Rebate, which aims to establish NSW as a “globally competitive screen production and PDV centre”, was also reduced.
The Labor government confirmed that these programs will not have their funding reinstated due to budgetary pressures, as prominent screen industry figures warn of job losses and under-representation of the state on screens.
Destination NSW to work harder with less money
On the tourism front, the Minns government has announced a 30% budget cut for Destination NSW.
The government agency, tasked with driving the state’s tourism with promotions and events, was reportedly unable to enter into a multi-year investment agreement with several major events due to it being strapped for cash. The cut was also attributed to a secret funding reduction by the previous Perrottet government.
These include iconic events such as the Sydney Festival, Sydney Gay & Lesbian Mardi Gras, Handa Opera on Sydney Harbour and Australian Fashion Week.
In May, Jobs and Tourism Minister John Graham said the government is committed to finding the money for Mardi Gras, but there was no guarantee for other events.
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