UK STUDIO BOOM!
January 2018 | Televisual
Last month, the Mayor of London Sadiq Khan confirmed his backing for a new studio in Dagenham East – the first new TV and film production studios in London for at least 25 years. The move followed publication of a study, led by the economic consultancy SQW, which confirmed that there is more than enough demand for a brand new studio in London. The next step is to find investors to back development of the 20-acre site – nine acres of which is industrial land purchased from Sainsbury’s for £12m last year.
Production figures certainly prove that demand for studio space is high. The production of high-end TV – shows that have a core expenditure of more than £1m per hour – is growing over time. In 2016, 450 scripted original shows aired on American TV, a figure that has doubled since 2010. (It is expected to be even higher in 2017). Netflix’s total spend alone on content is expected to be more than $8bn this year.
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