Netflix Chief Content Officer Ted Sarandos said the company intends to bring as much Netflix production as possible to California.
In an interview posted Tuesday on the Wrap entertainment industry website, Sarandos indicated that Netflix, which last year signed a long-term lease for the Icon office tower at Hollywood’s Sunset Bronson Studios, plus a 10-year lease for the studio’s soundstage and production facilities, will do its best to produce in-state.
“I personally believe instead of investing in tax incentives that we should invest in infrastructure,” Sarandos said.
He said that moving productions to benefit from tax incentives “is very tough on families and eventually it grinds on the talent.”
Netflix reportedly has about 1,000 employees.
Netflix did not immediately respond to a request for comment. In response to the report, Mayor Eric Garcetti hailed Netflix’ reported plans.
“Los Angeles has more to offer television and film producers than anywhere else in the world: unmatched production resources, diverse landscapes, and hardworking people who are the heart and soul of the entertainment industry,” Garcetti said. “I am firmly committed to protecting and expanding L.A.’s economy and middle class, which is why we are working hand-in-hand with the film industry to cut red tape, coordinate with city departments, and invest in city services that promote entertainment job production.
“I’m thrilled that a creative force like Netflix is investing in our city — because it means new opportunities for L.A.’s workers, and sends a signal that Hollywood is where the most gifted on-screen and behind-the-scenes talent is planting roots and planning the future.”
Contact media and entertainment reporter Diane Haithman at email@example.com. Follow her on Twitter @dhaithman for the latest in L.A. business news.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- FilmL.A. Reports First Quarter Declines in On-Location Shooting
- Report: Expanded Tax Credit Program Spurs California Film, Television Production
- Netflix Leases More Space at Sunset Bronson Studios
- Huahua Media’s $1B Finance Deal With Paramount is Scrapped
- Tax Credit Lures Big-Budget Movie Production Back to California
- Creative Artists Agency Partners With China’s CMC Capital
- Puji Capital Backs Film Venture by Peter Guber, Steve Richards
- ICM Partners to Acquire Headline Media Management