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Movie theaters may be struggling to make a profit and to return to pre-pandemic numbers, but the consumer demand for content remains stronger than ever. While the proportion of U.S households with streaming services stalled in Q1 2022, it remains at a staggering 86% and it is predicted that more than half of households worldwide will own a smart TV by 2026.
With so many people watching, there needs to be a steady stream of new content from platforms like Netflix and Hulu for them to consume. This has led to an increased demand for film studios worldwide, and commercial real estate developers, owners and investors are taking notice. A 2021 article in The Guardian reported that the UK alone needs to build the equivalent of four new film studios to keep up with the ever-increasing demand for new content from streaming platforms, or risk losing out on billions of pounds of revenue.
So the demand is there, but the question remains: What is the commercial real estate industry doing about it? Find out at Bisnow’s International Film Studio Real Estate Boom event on Sept. 28. Register here for the event.
This digital event will cover what design, amenities and technological features are needed to meet studio tenants’ needs, how developers are pivoting to attract streaming tenants, which U.S. states are offering the best tax incentives for studios and how they compare to Dublin and the UK and more.
Speakers include:
Hilton Howell Jr. — chairman and CEO, Gray Television
Ray Taylor — managing director - London, Blackstone
Christine Dudley — executive director, Illinois Production Alliance
Rahim Charania — managing partner, Woodvale
As the demand for content continues to grow at an astronomical rate, so will the demand for space in which to create it. The time is now for the real estate industry to take action. Find out more at Bisnow’s International Film Studio Real Estate Boom event on Sept. 28. Register here.
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