Netflix buys up New Mexico studio facility for massive new production hubOctober 8, 2018
When Netflix moved into its new Los Angeles headquarters last year, the company made sure it had several sound stages at the ready for any production needs. Now the streaming service is taking things a step further, acquiring ABQ Studios in Albuquerque, New Mexico, as part of a plan to bring as much as $1 billion in production to the state over the next 10 years.
Los Angeles is often thought of as a center for film and television production, but studios and production companies have been regularly traveling to other locations to shoot for years. States like New Mexico (Breaking Bad, Netflix’s Godless) and Georgia (The Walking Dead, Avengers: Infinity War) can provide a more attractive environment because they’re not only less crowded than Los Angeles, but the states themselves also offer tax breaks and financial incentives that actually make it more cost-effective to shoot there. ABQ Studios, which boasts nine stages offering over 170,000 square feet, has been the site of numerous high-profile movies and shows, including Logan, Preacher, Better Call Saul, and the original The Avengers.
Locking down ABQ Studios will allow Netflix to be even more efficient and flexible with its original content production, something that has emerged as one of the most essential elements of its programming strategy — particularly with competitors like Amazon Prime and Hulu so active, and Disney’s streaming service just around the corner. Last year, Netflix estimated it would spend $8 billion on creating original content in 2018 alone, with the goal that in the next few years half of the company’s available content would be original titles.
“Our experience producing shows and films in New Mexico inspired us to jump at the chance to establish a new production hub here,” Ty Warren, Netflix’s vice president of physical production, said in a statement. “The people, the landscape and the facilities are all stellar and we can’t wait to get to work — and employ lots of New Mexicans — creating entertainment for the world to enjoy.“