CINELEASE STUDIOS - THREE RING CAMPUS OVERVIEW
PHASE I
CLSTR is Georgia’s newest full-service state-of-the-art media production campus. Existing and projected future increased demand in the market has initiated plans to expand the campus with Phase II. The existing campus features:
109,200Sq. Ft. of Sound Stages
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12,897Sq. Ft. Herc Rentals Building
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81,120Sq. Ft. of Mill / Flex Space
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30,000Sq. Ft. Modular Office Community
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PHASE II
Phase II is expected to break ground in Q2 2021. The development plan calls for the ground-up construction of:
144,000Sq. Ft. of Sound Stages
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70,000Sq. Ft. of Office Space
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92,800Sq. Ft. of Mill Space
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30,000Sq. Ft. for Cinelease Building
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Despite strong demand for studio space, there remains a shortage of purpose-built sound stages that can accommodate the needs of this dynamic market. TV and Film are using any space available to them, many of which are simply old warehouses. In fact, all available studio space in Georgia is on a multi-year waiting list. The industry requires amenities and resources that many of the existing studios in Georgia cannot provide including on-site management and equipment rental, mill space for set construction, office space for ancillary production staff, abundant parking, and backlot facilities. CLSTR offers a full-service campus with all required services and amenities located on-site.
“Georgia takes the crown in
our new Film Production Leaders category, ranking the states that are the top locations for motion picture
and TV production.”
WHAT IS FUELING STUDIO SPACE DEMAND?
The rapid growth of studio space demand has been caused by increased demand for original content by
digital content producers such as:
digital content producers such as:
In February 2018, Netflix announced plans to spend its $8 billion content budget on 700 original programs to distribute internationally. At the time, Netflix’s $8 billion budget was on par with traditional TV/Media networks such as NBC Universal, Time Warner and Disney. The once competitive race between TV/Media networks and streaming services was short-lived.
According to The Economist, in 2020, Netflix earmarked $17 billion dollars for content production. That is more than double the budget allocation just within two years’ time. Amazon Prime Video had the second largest budget allocation with $7 billion. Trends suggest that budget allocations will continue to vastly increase in the future as the viewing public become more adept at consuming content through online streaming. According to eMarketer, the streaming market in the United States will jump about 30% in 2021 to $38.15 billion and an additional 19% in 2022.
The increased demand in the streaming market will pave the way for new players looking to produce their own content. According to the New York Post, by 2024 Disney+ will more than quadruple spending. In December 2020, Disney+ announced that 10 new “Star Wars” TV series will debut over the next calendar year. The brand-new streaming service has already attracted over 80 million new subscribers since its launch in Q4 of 2019.
Since the onset of COVID-19, consumers have been furiously viewing content on all platforms. The increase in viewership was concurrently occurring while new content development was at a standstill. Traditionally large production companies have 40-50 productions in editing at any one time. Due to statewide shutdowns in New York and California, production companies were reduced to single digit assets in production. The resulting pent-up demand for studio space is at an all-time high.
Warner Media announced in December 2020, a new strategy to keep up with demand during the pandemic. All Warner Media movies will have a hybrid release in 2021. New films will be released simultaneously at the movie theatres as well as on HBO Now. The hybrid release schedule will allow Warner Media to reach their entire target audience without worrying about box office revenue. Other major studios will soon follow the same strategy.
According to The Economist, in 2020, Netflix earmarked $17 billion dollars for content production. That is more than double the budget allocation just within two years’ time. Amazon Prime Video had the second largest budget allocation with $7 billion. Trends suggest that budget allocations will continue to vastly increase in the future as the viewing public become more adept at consuming content through online streaming. According to eMarketer, the streaming market in the United States will jump about 30% in 2021 to $38.15 billion and an additional 19% in 2022.
The increased demand in the streaming market will pave the way for new players looking to produce their own content. According to the New York Post, by 2024 Disney+ will more than quadruple spending. In December 2020, Disney+ announced that 10 new “Star Wars” TV series will debut over the next calendar year. The brand-new streaming service has already attracted over 80 million new subscribers since its launch in Q4 of 2019.
Since the onset of COVID-19, consumers have been furiously viewing content on all platforms. The increase in viewership was concurrently occurring while new content development was at a standstill. Traditionally large production companies have 40-50 productions in editing at any one time. Due to statewide shutdowns in New York and California, production companies were reduced to single digit assets in production. The resulting pent-up demand for studio space is at an all-time high.
Warner Media announced in December 2020, a new strategy to keep up with demand during the pandemic. All Warner Media movies will have a hybrid release in 2021. New films will be released simultaneously at the movie theatres as well as on HBO Now. The hybrid release schedule will allow Warner Media to reach their entire target audience without worrying about box office revenue. Other major studios will soon follow the same strategy.
COMPETITIVE MARKET
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