Australia to mandate streaming services invest at least 10% of expenditure in local content

SYDNEY (Reuters) -Australia will introduce laws requiring streaming platforms to invest set amounts of money in Australian content, the government said on Tuesday. The centre-left Labor government will require the platforms to invest at least 10% of total expenditure in Australia or 7.5% of revenue to new Australian drama, children's content, documentaries and arts and educational programmes, Arts Minister Tony Burke and Communications Minister Anika Wells said in a statement. * Australia has local content quotas for free-to-air television but not for streaming services such as Netflix, Display+ and Amazon. * "Since their introduction in Australia, streaming services have created some extraordinary shows," Burke said. "This obligation will ensure that those stories – our stories – continue