The disappointing global box office performance of the new film Furiosa: A Mad Max Saga has resulted in a massive financial hit not just for the studio, but also Australian taxpayers who helped fund the big-budget production.
According to reports, the Australian government contributed around $33 million directly to the $220 million budget for Furiosa through financial incentives. The film, a prequel to 2015’s Mad Max: Fury Road, also likely received an additional $88 million in tax rebates for production work completed in Australia.
Despite starring big names like Anya Taylor-Joy and Chris Hemsworth, Furiosa has only managed to earn around $150 million at the global box office so far – failing to recoup its hefty production costs estimated between $168-233 million.
The underwhelming box office is a major blow after Australian taxpayer dollars helped cover nearly 40% of the total budget through a combination of the $33 million direct contribution and lucrative tax rebates of 30% on all qualifying Australian production spending.
While these types of incentives are aimed at attracting high-profile film productions and boosting local economies, some are now questioning whether bankrolling a Hollywood tentpole like Furiosa that does not prominently feature Australian stories or talent was truly a wise investment of public funds.
Critics argue the open-ended 30% rebate program makes it difficult for smaller, locally-produced films to compete with deep-pocketed studios taking advantage of the generous tax incentives without any requirements to actually uplift Australian cinema and filmmakers.
As Furiosa’s box office disappoints, Australian taxpayers are effectively left sharing the costs of the movie’s commercial failure despite the government subsidies intended to make filming in the country an economic boon.