will pay $55 million for a big parcel of land in New Jersey, then invest $850 million to build a state-of-the-art production studio, according to details of the streamer’s bid.Economic Revitalization Authority is expected to approve the project at a meeting this evening.
Some three to six months of due diligence by county and state authorities would follow before work on the site could begin on the new studio, with 12 sound stages, back lots and production support. Netflix opened a studio in Bushwick, Brooklyn last year. It leased stages in Atlanta, Toronto, Vancouver and across California and internationally in London, Tokyo, Seoul, and Madrid. “We don’t anticipate a reduction in filming around the world,” Netflix Director of Content & Studio Affairs Rajiv Dalal tells Deadline. “Given our content slate, we still have enough titles to be shooting in all of these locations.
Lionsgate will be the anchor tenant of a new $125 million, 12-acre film and TV production studio in Newark by Great Point Studios and the New Jersey Performing Arts Center, announced earlier this year. Construction of a large production facility in Bayonne – 1888 Studios — is set to start in the first quarter of 2023. A second film studio in Kearney opened this year. “We are hoping that a critical mass has built up,” said Dalal.
This is where all the money from their animation department went to.