Australia has taken a leaf from the French book of how to treat foreign (American) streaming heavyweights, by mandating that SVoD services reinvest 7.5% of local revenue into local Australian productions. While this is one of the world’s toughest SVoD obligations on paper, the Australian government’s effort is still weak compared to France’s famously stringent 20% to 25% reinvestment rules. The caveat of course is that consumers will feel the burn, gradually, as these “local content tax” mandates are subsidized by price hikes. But even so, these local content levies are good news for content production and related industries, though some large streamers may look to offset these content contributions by cutting costs elsewhere in the business. But rules are…