The organisation was responsible for financing several notable Australian feature films, among them Strictly Ballroom (1992), Muriel's Wedding (1994) and The Adventures of Priscilla, Queen of the Desert (1994).

[2] In 2008, the FFC was succeeded by Screen Australia, which merged the similar film financing bodies operated by the Australian government.

The Film Finance Corporation was first established in May 1988 by the Australian Government under the prime ministerial Bob Hawke with the organisation beginning operations in the following financial year.

In addition to financing feature films, the FFC funded Australian children's television drama productions.

Between 1990 and 2004, the ABC was annually mandated to pre-purchase up to 24 hours of independently produced programs which would be mediated through an FFC funding mechanism.

Between 2004 and June 2007, the FFC streamlined its financing policies by implementing their “two-door” system for Australian producers seeking funding.

Although the FFC had not fulfilled a “promise” to be self-funding within three years of its inception, Paul Keating used it as an example in his campaign to maintain the status quo for government financing.

Australian children's television drama in particular saw an increase in foreign financing, making up 33% of the total budget matching the commitment by the FFC.