Nearly £166m spent on Australia based feature films
A sum of £166m was spent in Australia on 35 Australia-based, domestic features that went into production from 1 June 2013 to 30 June 2014, the second highest total of expenditure since 2008-2009.
One of such films made in Australia was Russell Crowe’s directorial debut, The Water Diviner, set to be released in Australia on 26 December. Out of the 35 productions only 3 were co-productions, all surprisingly with Germany. Australian projects have recuperated close to 30% back in the form of tax rebates in the last five years. Indirect government investment has since been a vital contributor to film production.
A further £20m was earned by Australian companies that provided post and visual effects work on 15 foreign films that were shot in other countries. The titles included: Avengers: Age of Ultron, A Million Ways To Die In The West and X-Men: Days Of Future Past.
The industry was recently hit with the news that Pirates of the Caribbean: Dead Men Tell No Tales will be filmed in Australia and currently shooting is Truth, a production starring Cate Blanchett and Robert Redford.
An interesting aspect of recent Australian production is that government investment in Australian feature films has dropped to 8%, and a closer look at earlier figures shows it hasn’t been this low for a decade. Despite production levels being high there has been a lot of negative publicity surrounding the lack of success of Australian films exhibited in cinemas in months past. However, with a host of films yet to be released there’s a chance that their fortune may reverse.