"Last week, he opened a $230-million movie and television studio on the edge of the Arts District in downtown Los Angeles nestled alongside the dramatic new Sixth Street Bridge. The state-of-the-art complex has five sound stages, offices and other proper movie studio features such as a mill, commissary and base camp. "We just had all the major networks, all the major streaming platforms walk through this facility and they can't believe how nice it is," said Wainright, managing partner of East End Studios."
"After years of aggressive sound stage development across Southern California - fueled by a surge in TV production and low interest rates - the writing was on the wall as filming activity dropped to historic lows. The average annual sound stage occupancy rate dropped to 63% in 2024, the most recent year data are available, according to FilmLA, a nonprofit that tracks filming in the L.A. area."
A $230-million movie and television studio opened on the edge of the Arts District in downtown Los Angeles near the Sixth Street Bridge. The complex includes five sound stages, offices, a mill, commissary and base camp but currently has no signed productions despite tours from major networks and streaming platforms. Owners describe dire conditions as industry activity falls. Major landlords are relinquishing properties, including Hackman Capital Partners turning over Radford Studio Center to Goldman Sachs. FilmLA data show average annual sound stage occupancy dropped to 63% in 2024, down from 69% the prior year and well below the 90% average from 2016 to 2022.
Read at Los Angeles Times
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