Permanent space needed to spend more of film-maker’s £6bn yearly budget in Britain
Netflix is targeting a permanent production base in the UK because a boom in demand for studio space is hindering plans to spend more of its $8bn (£6.1bn) annual production budget in Britain.
Netflix, which is making about 40 productions in the UK this year, is understood to have made the UK a high priority for securing a long lease on studio space to ensure its growing slate of UK-based productions can be filmed without delays.
“Netflix is one of the few businesses with enough of a guaranteed slate that means securing their own space to make productions makes sense,” said one movie industry source with knowledge of Netflix’s intentions. “The UK is a target location for a long lease.”
The California-based company indicated its frustrations with the overcrowded UK studio market in a submission this month backing the expansion of one of Britain’s biggest studio complexes, Shepperton, in Surrey, which has hosted productions including Mamma Mia! Here We Go Again. “In 2018, Netflix plans to spend approximately $8bn on content worldwide, across more than 700 television and film productions,” the company said. “We would like to be able to produce more in the UK. However, we are limited by the lack of available space.”
Source: The Guardian
Netflix hunts long-term UK production base amid race for studios