When a company is in good financial situation, it will try to expand its business by investing in fixed assets. Netflix here is trying to do the same because recent reports state that giant movie streaming company has decided to set up a production hub in Toronto. According to reports at Cinespace Studios Netflix will be taking property on a lease which has got four sound studios plus it will build an office for its staff and members. The property which Netflix is trying to get on contract is spread in more than 164000 Square feet.
While releasing this statement, Netflix’s officials said that this new production plant would be able to create 1850 new jobs for Canadians. Netflix is undoubtedly one of the largest movie streaming company and now to expand the production of its own movies company had decided to take a large production house on lease. Local government officials are happy about the Netflix decision of Choosing Canada to build its production hub since it will be helpful for all the local citizens. The sound stages which Netflix want to build at a leased property of Cinespace Studio are under construction, and the company might start using them by the end of this year.
Netflix has already stated that they are going to focus on creating its original content and now it seems like company doesn’t want to depend upon other production houses. Netflix currently doesn’t have that much more significant issue regarding movie streaming rights, but recently Disney announced that they are also going to create their movie streaming platform. Now to maintain its dominance, Netflix has decided to acquire some significant studios across Canada. Reports show that production plan has already been made about which movies and TV series Netflix are going to make in these production houses.
Steve has been a tech-savvy person. He is always interested in knowing new arrivals in the world of Technology. In his professional life Steve is a tech author. He is fond of writing about technology. Along with a tech-savvy writer, Steve is a food lover. He likes to explore new places to eat various types of mouth-watering dishes.