Netflix Signs Long-Term Lease For Massive Production Facility

Netflix is arguably the most popular streaming service in the world right now, as it continues to produce a lot of original content comprising of TV series and movies. The company already spent a lucrative amount of money into producing content this year.

According to Deadline, Netflix announced that it is increasing its already considerable international footprint with a deal to lease the UK’s Longcross Studios.

Due to the new deal, Netflix will partner up with asset management firm Aviva to operate and expand the Surrey film and TV complex, which has hosted major productions including the James Bond and Star Wars franchises, Marvel movies and hit ITV drama Broadchurch.

Netflix will take a long-term lease at the site, which is around 20 miles west of central London. The existing facility includes four main stages, 200 acres of backlot, a two-and-a-quarter mile test track, an off-road course, and a 150-year-old manor house.

The streaming giant has committed to a UK production budget of more than $1BN in 2021 across 60 productions including Sex Education, The Witcher, Bridgerton, Anatomy of a Scandal, Man vs Bee, Stay Close and Heartstopper.

With the UK being the biggest production base after the US, it remains to be seen whether the lucrative deal will prove to be profitable in the long run.

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