A beloved Aussie TV show has been axed after 11 seasons due to “changing market conditions.”

Production company Electric Pictures announced season 11 of Aussie Gold Hunters would be the final one.

According to the ABC’s Media Watch, Electric Pictures boss Andrew Agilvie told staff last month the long-running show had “officially come to an end.”

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“Changing market conditions have meant that Season 11 will be the final season of the series,” the email read.

It comes after Media Watch and The Guardian repeatedly raised concerns about the show’s authenticity and whether some of the gold being dredged up was real.

This led to questions about whether the show was eligible for state and federal funding as a documentary.

In July, The Guardian claimed a would-be thief in a recent episode appeared to resemble one of the show’s producers.

In April, Media Watch said a “poacher” who featured in one episode was in fact the series producer, Michael Dye. Mr Dye said he had no choice but to participate in the “recreation” because there was no one else available.

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The show received direct funding from the WA government’s Screenwest documentary funding scheme, according to The Guardian. It also received tax offsets through Screen Australia because it’s an Australian-made documentary.

Electric Pictures received more than $4.7 million from Screenwest between July 1, 2025, and June 30, 2025, when funding data ceased to be made public, of which $4.1 million was directly earmarked for Aussie Gold Hunters, according to the publication.

Aussie Gold Hunters is a Discovery Channel production. It has an audience of 40 million viewers in more than 140 countries, making it the most successful Australian show on its platform, according to the publication.

A Screenwest spokesperson told Media Watch: “Projects which receive funding from Screenwest are assessed against the criteria and assessment process published in the relevant program guidelines. All application and acquittal information provided by a production is carefully reviewed and conversations with contracting partners are confidential.”

A Screen Australia spokesperson said: “Screen Australia administers the Producer Offset on behalf of the Federal Government in accordance with the Income Tax Assessment Act 1997 (ITAA). Screen Australia is bound by strict tax laws which do not permit the identification of projects that may be the subject of any Producer Offset application.”

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