Steelmanning the other side first: it is quite plausible that the decline in audiovisual investments in Australia serves as a timely catalyst for the introduction of quotas, an interpretation I can fully concede.
However, claiming that this decline is the fundamental trigger for the local spending quotas overlooks the pre-existing cultural policy objectives in Australia that do not wait for a sectoral crisis.
Many jurisdictions, such as Canada with its requirements for local content (for example, in the 1970s with the MAPL rules for music and more recently with Bill C-11 for streaming), demonstrate a consistent desire to support digital sovereignty and national creation, well before any specific financial decline.