The voracious appetite by streaming services for new content during the past three years was met with an unprecedented surge in studio and soundstage production in the major film and TV production hubs.
In Los Angeles, projects that are either underway or have been proposed could double the footprint of studios, to nearly 4M SF. In the NYC area, developers are building 11 new film and production campuses, a 30% increase overall.
Investment giants including Blackstone, Apollo Global Management and Bain Capital have made huge bets on the film and TV production sector.
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