For love or money? Assessing outcomes from direct public investment in film

Jordi McKenzie*, Craig Rossiter, Yousun Shin

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

5 Citations (Scopus)


This study examines Australian domestic film performance under two distinct policy regimes with respect to direct investment strategy. In particular, we contrast film performance under two public funding agencies with noted differences in (i) the number of films financed annually, (ii) the average (and maximum) funding per film, and (iii) the involvement of an expert review panel in funding decisions. In addition to box office returns, we consider performance benchmarks related to major film festival screenings, nominations and awards; critical acclaim based on IMDb user and critic reviews; and whether or not the film received a release in the major UK and/or US markets. Finally, we exploit a subset of our data where a ‘two-door’ policy was used for investment decisions that allows us to reflect on our more general results.

Original languageEnglish
Pages (from-to)459-475
Number of pages17
Journal The International Journal of Cultural Policy
Issue number4
Early online date17 Dec 2018
Publication statusPublished - 6 Jun 2020


  • Film funding
  • film investment
  • film policy


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