12/28/2023 0 Comments Netflix eyes new army production hub![]() “And given the talented crew base in New Jersey that have worked on our titles in New York, but live in New Jersey, the multiplicity of great scenic backdrops, the proximity to major metropolitan areas and the fact that we were able to get a large swath of land close to 300 acres. “I think we certainly needed an East Coast production hub,” Netflix director of content and studio affairs Rajiv Dalal told The Hollywood Reporter. The new facility adds on to Netflix’s existing studios in Brooklyn, which the streamer opened in 2021, as well as other North American studios in Georgia, California, New Mexico, British Columbia and Toronto. Netflix’s new hub is set to be completed over the next several years. Fort Monmouth has been closed since 2011. ![]() The project is set to be completed in two phases over the course of several years. Murphy said the project will create new housing, hotel and film-related businesses in the area, which has suffered economically since the Army closed the base in 2011. “As a result of nearly a billion dollars in film production spending, New Jersey will further solidify its status as an emerging national leader in the television and film industries.” “This transformative investment will serve as a cornerstone in our efforts to create a thriving industry from whole cloth,” Murphy said. on Tuesday, Netflix said it would bid for part of 289 acres fort monmouth, approximately 50 miles south of New York City in the boroughs of Oceanport and Eatontown. Netflix’s new production facility will be at Fort Monmouth in New Jersey. Phil Murphy said Netflix’s arrival will create more than 1,500 permanent production jobs in the area, as well as 3,500 construction jobs. “We believe a Netflix studio can boost the local and state economy with thousands of new jobs and billions in economic output, while sparking a vibrant production ecosystem in New Jersey,” said Ted Sarandos, Netflix co-CEO and chief content officer, in announcing the deal Wednesday. The streamer, known for hits like “Stranger Things” and “Emily in Paris,” said it paid $55 million for the 292-acre Fort Monmouth base, located about 60 miles south of Midtown.Īdditionally, the company plans to invest nearly $850 million in the community to develop the state-of-the-art production studio, which will include 12 soundstages. Streaming giant Netflix will invest $905 million to transform a vacant Army base in New Jersey into its East Coast production hub. Prince Harry and Meghan Markle face ‘seismic’ 2024 as Hollywood has ‘had enough of them’: expertĭriver testifies that he didn’t see Jonathan Majors hit ex-girlfriend as domestic assault case nears end ![]() A Netflix spokesperson told Forbes the company is “pleased with the successful launch and the member engagement on the Basic with Ads plan, as well as the eagerness of advertisers to partner at the outset.Mark Wahlberg admits his kids think he’s ‘cringe’: ‘Only cool when it’s convenient’ĪI is coming for Hollywood: ‘Needed editing but, then, so would our writer’ Digiday reported last week that Netflix was giving money back to some advertising clients, after it failed to meet viewership expectations. TangentĮarlier this week, shares of Netflix fell slightly after the Journal reported the company’s newly launched ad-supported tier only represented 9% of subscribers who signed up last month. Still, the company said it would maintain its new movie and TV programming. Sources told the outlet steps including limiting corporate swag, reducing its real estate footprint, hiring more junior staffers. But this fall, the Wall Street Journal reported the company was still eying cost cuts. In October, the company announced it had gained subscribers and estimated it would continue to do so in the fourth quarter of this year. This summer, it took several cost-cutting measures, including laying off 400 employees. Earlier this year, Netflix lost subscribers for the first time in a decade, sending its stock price down.
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