Paul Stenhouse: Australia forces streaming platforms to make Australian content and Elon Musk's trillion-dollar pay package

Australia is going to force the streamers to make Australian content  

It'll focus on those with more than 1 million Australian subscribers, which means Netflix, Disney+, and Amazon Prime Video will all be included.  

The law will require them to spend at least 10% of their total Australian expenditure or 7.5% of their Australian revenue on new Australian drama, children's, documentary, arts, and educational programs.  

The bill was not introduced earlier as the Aussies first waited out the 2024 US presidential election and later feared that its winner, Donald Trump, could counterattack with tariffs.  

  

Elon Musk's trillion-dollar pay package  

Tesla shareholders overwhelmingly approved a pay package that could make CEO Elon Musk, already the world’s richest person, the world’s first trillionaire.  

His new deal has some rather lofty targets and if met would give him stock valued at a trillion dollars. These include:  

• Delivering 20 million Tesla vehicles and one million robots  
• Getting 10 million subscriptions to Tesla's Full Self-Driving feature  
• Bringing one million self-driving Robotaxi vehicles into commercial operation  
• Earning up to $400bn in core profit  
• Eventually lifting Tesla's overall market value to $8.5tn, currently $1.4tn  

Elon is calling this not a new chapter but a "new book" for the company, really centring around autonomous projects. Optimus is designed to be an autonomous humanoid robot performing "unsafe, repetitive or boring tasks”. 

He's already worth around half a trillion dollars so even if only some of his goals are met, he's the closest human to reaching a net worth of a trillion dollars. 

 

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Episode Transcript

Speaker 1 (00:07):
You're listening to the Saturday Morning with Jack team podcast
from News Talks at b Elon.

Speaker 2 (00:13):
Musk is on track to become the world's first trillionaire.
That's a thousand billions and billions, of course, being one
thousand millions. It's extraordinary, isn't it. So Tesla's shareholders have
overwhelmingly approved his remarkable pay package. Paul stan House is
our text bird. He's here with the details. Paul. It's

(00:34):
a pretty penny.

Speaker 3 (00:35):
It really is. I mean, it's a similar number that
you must have been talking any with the TVZ, wasn't it.

Speaker 2 (00:40):
Jack Fously famously you know, the New Zealand media, famously
wealthy at the moment, and a famously good financial position.
So yes, you can imagine. Yeah, okay, good, good, good
to know.

Speaker 3 (00:52):
No, it's a crazy number, isn't it, Because it's just
it's it's unimaginable. The guys already worth five hundred million
dollars and this is probably going to be the thing
that takes them to that trillion. I mean, he's got
a bunch of other things in the works that will
help take him there too, But this pay package alone,
this pay package is worth a trillion. Dollars by itself.

(01:15):
He needs to do a lot though, in order for
him to get that trillion dollars, and we're talking delivering
twenty million Tesla vehicles and a million robots. He has
to get ten million subscriptions to Tesla's full driving car features.
He has to get a million self driving robotaxis into
commercial operation. He's got to get four hundred billion dollars

(01:38):
in core profit for the company. And this is the
big one. He has to raise the valuation of the
company from his current one point four trillion dollars to
eight point five trillion dollars. Wow. So not exactly an
easy task.

Speaker 2 (01:52):
No, no, okay, So yeah, there are a lot of expectations. Nevertheless,
if he pulls that off, he will. I mean, it
is just a fantastical kind of sum, isn't it that
you know that net Worth. Hey, Australia is going to
force the big streamers to make Australian content. Australia has
been kind of out there and trying to push back
against some of the big digital companies of the age.

(02:15):
But this is an interesting move.

Speaker 3 (02:18):
Yeah, big time. They've been big on a bunch of
these kind of things. As you say, they really went
toe to toe with them about the newspapers as well,
and the access to news content and paying publishers too.
And so this one is going to be focused on
the biggest streamers around. So if you just happen to
create a streaming service and trying to give off the ground,
you don't have to worry about this. Not that we're

(02:40):
doing that ourselves, but if you're the likes of the
netflixes and the Disney pluses and the Amazon Prime Videos,
and you have more than a million Australian subscribers, then
you will be part of this law or be looked
at as part of this law, right and you need
to spend at least ten percent of all of the
money that you're currently spending in Australia on content or

(03:03):
seven point five percent of all the revenue you bring
in from your stranding customers, whichever one is greater, and
that can be then spent on dramas, children's TV, documentary arts,
educational programs. There's no stipulation on what percentage that needs
to be. You just have to actually spend the money.
And it isn't the first time this bill was actually

(03:23):
brought about. Actually, Jack the Assies wanted to do this
back in twenty twenty four, but they were a little
concerned about the US presidential election and what might happen there,
and then they later feared that Donald Trump could use
it as part of their tariff negotiations. He's been pretty
hot on Hollywood foreign films getting tariffs. I think you
put one hundred percent on non Hollywood made or non

(03:46):
American made films in the United States. So I'm sure
that this was part of their calculation. But it's a
really interesting move, especially because there are if you think
about the New Zealand media landscape, there are already provisions
around local content and supporting local content. Australia is taking

(04:07):
to that next step.

Speaker 2 (04:08):
Yeah, absolutely, I was fascinating. Hey, thanks so much, Paul.
Paul Stenhouse is our texpert with us This Morning.

Speaker 1 (04:15):
For more from Saturday Morning with Jack Tame, listen live
to News Talks at B from nine am Saturday, or
follow the podcast on iHeartRadio.