Streaming giants may soon have to invest in making local Australian content.

The Federal Government is reportedly working on a new policy that will require the major streaming platforms - including Netflix, Disney and Amazon Prime - to put some of their revenue back into Australian content.

The rules would bring the streaming sector into line with free-to-air networks, which are already subject to local content quotas.

The streaming sector has already produced significant amounts of Australian screen content, spending more than $330 million on the local industry in 2021-22.

But Arts Minister Tony Burke says this will soon be a requirement.

“There is no requirement that [Australian content] be there at all, and the percentages of what we're seeing with Australian content are way down on what traditionally was expected on free to air,” he said.

“The days of there being no guarantee of Australian content on streaming services have to come to an end.”

The government says it wants to have the policy details worked out by the middle of this year, with legislation potentially being introduced later in the year.