Last year, Netflix transferred to its new headquarters in Los Angeles. Following this transfer, the company expanded by incorporating several sound stages in order to cater to the company's production needs. Recently, the company is pushing its expansion efforts with the acquisition of ABQ Studios located in Albuquerque, New Mexico.
This latest acquisition is part of the company's effort to bring close to $1 billon in terms of production investment in the span of the next 10 years. While Los Angeles is widely considered as the center of television and movie production, several studios and production companies have been regularly diverting to other locations for shoots. States like Georgia and New Mexico are particularly of interest to many production companies.
In terms of television production, New Mexico is well-known as the production ground of AMC's "Breaking Bad" and Netflix's "Godless." On the other hand, Georgia is widely known as the production ground of the television series "The Walking Dead," and the film "Avengers: Infinity War."
With the acquisition of ABQ Studios, Netflix will have access to an efficient and flexible production location. Many believe that this new location will play a big part in some of Netflix's future productions.
As evidence to Netflix's commitment to production, the company is estimated to spend $8 billion this year, all of which will be devoted into creating original content. It is also widely circulated that within the next few years, half of Netflix's content will be all original titles.
Netflix vice president of physical production Ty Warren said that with the establishment of the New Mexico studio the company should be able to create it as one of its main production hubs. He added that New Mexico's people, landscape, and facilities are all impressive. Mr. Warren concluded that the new production hub will also employ a lot of locals.
In order to lure Netflix into New Mexico, it is said that local economic development funding to the tune of $14 million in state and local funds was used. Both Republican Government Susana Martinez and Albuquerque Democratic Mayor Tim Keller said that the investment will eventually pay off.
Governor Martinez said that the state relies mostly on federal funding, and oil and gas development. The effort to bring Netflix into the state is part of its strategy to diversify the state's income-generating ventures adding that the private sector is the backbone of the American economy.
