The redevelopment of Universal Studios' lot, including modern offices and communal spaces, represents a significant shift in how the film industry operates in LA today.
This reimagining arrives as the combination of streaming and aggressive tax incentives for filming outside of LA have hurt the city's studio economy.
Despite LA having the most sound stages in North America, recent industry performance raises existential questions about the future of film in Southern California.
Filmmaker Tyler Perry's cancellation of an $800 million studio expansion reflects the industry's growing anxieties over the impact of technology and competition.
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