Not even the super dog above could save the Australian film industry from suffering its lowest percentage of box office takings in almost a decade. According to the number crunchers at IF Magazine, local films grossed just $42.5m last year, accounting for just 3.5 percent of the total box office receipts in 2011. This is down from the 4.5 and 5.0 percent share enjoyed in the previous two years and the lowest since 2.8 percent in 2005.
Unsurprisingly, last year’s most profitable film was Red Dog which grossed more than $21m (more than every other film combined) over an estimated budget of $8.5m. Its success however, appears to be a fiscal anomaly with the majority of local releases failing to recoup their costs in the calendar year.
It’s hard out there for an Australian filmmaker.
Check out the data below…