REPORT: Budget 2024 - Media Sector - Venture Insights

REPORT: Budget 2024 – Media Sector

TLDR: This Government is adopting a traditional approach to communications, marked by focused efforts on reducing regional divides, upholding community standards—including trials for age verification on social media and blocking gambling-related content targeting children—and enhancing Australian and local content. The 2024 Federal Budget underscores the Government’s commitment through several key themes:

  • Support for Public Broadcasting: Funding boosts for ABC and SBS to sustain local news and Australian content.
  • Support for Local News Media: Additional grants aimed at community and Indigenous broadcasting to ensure diverse regional representation.
  • Support for Sub-Commercial Content Markets: Investments in high-quality children’s programming to nurture culturally relevant content.
  • Content Control Measures: Initiatives aimed at protecting children from harmful content, including technological measures for content moderation.
  • Regional and Indigenous Media Support: Financial commitments to bolster media projects within regional and Indigenous communities, promoting inclusivity and local engagement.

These initiatives collectively foster a robust and inclusive media landscape, aligning with the Government’s broader communications policy objectives.