Home and Away brings in $1billion in revenue as Neighbours gets axe

has brought in a staggering $1billion worth of export revenue to Australia since it began in 1988, according to a new report by economics firm ACIL Allen.

The beloved TV series has also steadily employed between 1,500 to 2,000 people a year, in front of and behind the camera, and 33 per cent of viewers in the UK, Ireland and said the show increased their desire to visit Australia.

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All facts Seven West Media CEO James Warburton is no doubt thrilled about as Home and Away’s arch rival Neighbours prepares to say goodbye.

Billion-dollar business: Home and Away has brought in more than $1billion in export revenue since it's beginning in 1988, according to a new economic report commissioned by Seven West Media this week. Pictured: stars Georgie Parker and Emily Symon

Billion-dollar business: Home and Away has brought in more than $1billion in export revenue since it’s beginning in 1988, according to a new economic report commissioned by Seven West Media this week.Pictured: stars Georgie Parker and Emily Symons

‘Home and Away has been at the heart of Australia for the past 34 years and this report captures, for the first time, the show’s significant impact on the Australian economy, our television landscape, our society and Australia’s international reputation,’ Mr Warburton said in a media statement on Wednesday. 

‘[It] is one big ad for Australia.And a good plug for television as an effective marketing platform. 

Mr Warburton added he was pleased at the impact the show had on viewers. 

‘Good Australian content has far-reaching impact beyond the number of people who watch it each day,’ he added.  

‘It enriches the social fabric of Australia.It informs voters. It holds the powerful to account. It tells stories. It provides employment. It promotes Australian tourism.

Serious business: '[It]is one big ad for Australia. And a good plug for television as an effective marketing platform,' James Warburton (pictured) said in a statement

Serious business: ‘[It]is one big ad for Australia.And a good plug for television as an effective marketing platform,’ James Warburton (pictured) said in a statement

The report comes as the curtain falls on iconic TV rival, Neighbours, after 37 years on Australian television. 

The show produced some of our most iconic talent including Kylie Minogue and Hollywood star, Margot Robbie. 

Neighbours announced that production would be ceasing on the long-running soap in a tweet back in March.  

Impressive: The beloved TV series has also steadily employed between 1,500 to 2,000 people a year, in front of and behind the camera, and 33 per cent of viewers in the UK, Ireland and New Zealand said the show increased their desire to visit Australia. Pictured: Actor James Stewart

Impressive: The beloved TV series has also steadily employed between 1,500 to 2,000 people a year, in front of and behind the camera, and 33 per cent of viewers in the UK, Ireland and New Zealand said the show increased their desire to visit Australia.Pictured: Actor James Stewart

‘We are so sorry to say that after nearly 37 years and almost 9,000 episodes broadcast we have to confirm that Neighbours will cease production in June,’ the show wrote. 

‘Following the loss of our key broadcast partner in the UK [Channel 5] and techinfluential despite an extensive search for alternative funding, we simply have no option but to rest the show.

‘To our amazing, loyal fans, we know this is a huge disappointment, as it is to all of us on the team.We thank you for all your messages and support and promise to end the show on an incredible high. From here on, we are celebrating Neighbours.’

All over: Neighbours announced that production would be ceasing on the long-running soap in a tweet back in March. Cast photo from 1995

All over: Neighbours announced that production would be ceasing on the long-running soap in a tweet back in March.Cast photo from 1995  

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