The Heartbreak High reboot is a global hit. It also sends Australia a message

“In other words, the more restrictive the country is, the worse the levels of investment in local content,” Muller said.

“When thinking about how to regulate investment in local content, it is really important that great care is taken with how such a plan is being designed.”

According to the report, four major streaming services – Netflix, Nine Entertainment’s Stan, Disney and Amazon Prime – invested $629 million in Australian, and Australian-related, content for the 2020-21 year. Paramount+ was not included as it had not made its entry to Australia at that stage.

The report’s consumer survey showed 73 per cent of Australians considered it important that their streaming, or TV, services provide Australian content, and 58 per cent were satisfied with the amount of local content on their streaming service. It also showed that 40 per cent of viewing time with the streaming services was local content.

The Frontier Economics report surveyed 1,107 internet users in Australia. Around 15 per cent said these streaming services do not provide enough local content, compared to 58 per cent who were satisfied with the amount of local content provided.

These local and international streaming services have been urging the federal government to dump plans that would force them to make a certain amount of local programs, warning it would have unintended consequences and make the cost of production unpalatable.

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The Morrison government first proposed a system to encourage streaming services to invest in local content early this year. The new communications minister, Michelle Rowland, has said she would push ahead with plans to regulate how much local content streaming services are making.

In June, Australian actors, directors, writers and producers launched the Make it Australian campaign to pressure the government and ensure the streaming services have some minimum investment levels of Australian content.