However, the investment also comes after Netflix underwent cost-cutting measures over the summer, including laying off employees, in light of slowed subscriber growth and its stock decline at the time.
“We have a large enough slate to be able to utilize the stages elsewhere, but we’re certainly going to be heavily utilizing the East Coast production hub,” Dalal said. This would add on to Netflix’s existing studios in Brooklyn, which the streamer opened in 2021, as well as other North American studios in Toronto, Atlanta, California, British Columbia and New Mexico. Netflix did utilize the tax credit program for filming Army of the Dead in the state.
#Production hub driver
Phil Murphy has “created a very attractive” environment for the film and television industry with these incentives, Netflix has not yet utilized the program for its new facility and therefore does not yet know how “it will play out,” with Dalal adding that this was not the main driver for the project. In recent years, West Side Story, The Equalizer, and The Many Saints of Newark have filmed in the state and Lionsgate has also announced plans to build a new production facility in Newark, set to open in 2024. New Jersey has also been ramping up its tax credit program for film and television production, which was first introduced in 2018 and expanded in January 2021. Those were key decision drivers,” Dalal told The Hollywood Reporter. 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 received approval on the purchase from the Fort Monmouth Economic Revitalization Authority on Wednesday evening.Īs for why Netflix wanted this parcel, Dalal cited the versatile landscape and the talent.
AMC's Co-Heads of Scripted Exit for Netflix
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