Former Nine boss Hugh Marks is on the hunt for Australia’s next MasterChef-scale juggernaut, and he says forcing streaming companies to pay for more Australian content is a way to get there.

Although the current MasterChef format was devised and produced first in Australia, the program itself was invented in the UK – it generates $700 million a year in licensing fees and other commercial revenue for its owner, Banijay Group, formerly known as Endemol Shine.