Friday, April 19, 2019
Netflix to Open Production Hub in New York City
Variety: Netflix plans to move into a bigger new office in Manhattan and open a Brooklyn production hub — all told, bringing up to $100 million in investments to New York City and resulting in hundreds of new jobs, according to New York State Gov. Andrew M. Cuomo.
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I remember hearing a year or two ago that Netflix was not going to last more than a couple years on the market. It’s amazing that they’re bypassed the world of movie theaters and have created their own production platform. The fact that Netflix plans to move into a bigger new office in Manhattan and open a Brooklyn production hub reveals to me that this company is not planning on going anywhere. The fact that they’re company is planning on expanding so incredibly over the next five years or so is amazing. I’m somewhat skeptical if they have enough money to do this they way they are, but nonetheless the expansion seems really cool and it means good things for their company. The state’s economic development agency is giving Netflix money to make sure that they actually create jobs for New Yorkers. It looks like Netflix has a very hopeful future.
I do not think anyone is surprised by the fact Netflix is expanding, in recent times it has been moving so much more from a simple streaming website to a content creator and it is working for them quite well. I think it sort of has to because their success has made at least rumors of a lot more streaming sites coming into fruition in the near future. I think New York makes a lot of sense for them as a place to expand, they already have workers there and New York is certainly a hub a talented individuals relation to the content creation field and everything is right there for them. Part of me believes it might’ve been nice if they had choose a lesser known area to create all those jobs and stimulate the economy more but since they are a business I think their choice of city makes a lot of sense and they got some really great tax cuts from the government so that doesn’t hurt either.
Netflix has become a giant power in the tv and film industry, completely re-imagining how we interact with tv and movies. There recent announcement to move into NYC shows how fast they are moving and expanding. I feel like this is a similar headline to one announced last year about the Amazon move. Considering the public backlash how did netflix approach their new offices given the reaction to amazon's office experience? I recognise Netflix’s new place is at a tremendously smaller scale to Amazon but considering they are looking to film in their new spaces they will be hiring a lot more people than the 132 to make that happen, even though those jobs are mpre temporary. Will this choice raise housing costs at all? Also I wonder how working out tax incentives work. Are they really giving Netflix millions for 100 jobs, to me this seems like a wacky trade off.
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