The Morrison government announced a $4. 2 billion investment over 3 years for the CBA and SBS months before the federal election.
Communications Minister Paul Fletcher made the announcement on Monday morning, describing it as a victory for public broadcasters.
“We have higher investment from the two national broadcasters for the 2016-19 and 2019-22 investment periods,” Mr. Fletcher said.
Previous coalition governments reduced investment in the CBA under Tony Abbott’s government in 2014, and Malcolm Turnbull pronounced a pause in indexation 4 years later, resulting in job losses.
The government announced in May that its “indexation freeze” would be removed in the next budget.
“The ABC and SBS are part of Australia’s varied media landscape,” said Mr Fletcher.
“We have the highest investment from the two national broadcasters in the 2016-19 and 2019-22 investment periods.
“This investment commitment is designed to provide certainty to any of the issuers and is announced well before the next investment era for the CBA and SBS to expand their plans for the future. “
The CBA will raise $3. 2 billion from July 1 of this year through June 30, 2025.
That figure includes $45. 8 million as a component of the new Enhanced News Gathering program to encourage regional journalism.
SbS will get $953. 7 million — an increase of $18. 9 million over the same period — over the same period.
The CBA and SBS will also get more investments for the continuation and expansion of audio description facilities for the blind and partially sighted.
It also unveiled a series of investment announcements for the media sector on Monday.
It included a $7. 3 million political timeline to make possible options on the long-term free-to-air television industry.
He also proposed an investment program that would inspire and require video-on-demand streaming platforms to invest in and produce content.