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CBRE: NYC’s Film Production Industry Poised for Strong Regional Growth
The film production industry, which originated in the New York City Tri-State area, is flourishing and poised for strong regional growth, CBRE says in a new report. Home to some of the highest quality studio space in the country, as well as a highly qualified talent pool and attractive tax credits, the region has emerged as a hub for the content creation industry.
Amid the pandemic, demand skyrocketed for more streaming video content for televisions, tablets, computers, and smartphones. Studios and major networks are intent on holding viewers’ attention with fresh content, necessitating additional studio space, says CBRE.
“New York is one of the largest media centers in the world with more than 150 production and post-production firms occupying two million square feet of space in Manhattan alone,” said CBRE EVP Rocco Laginestra. “Additionally, Brooklyn and Queens boast large soundstage facilities that have been purpose-built or occupy large converted industrial facilities.”
