Wednesday, August 30, 2023
Manhattan's first film studio to rise on Hudson River pier: report
nypost.com: It’s Hollywood on the Hudson.
A group of New York City’s big-moneyed investors have joined forces to build a $350 million production-studio complex — Manhattan’s first ever — on a dilapidated pier jutting out into the Hudson River, according to a report.
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I don't think having more film studios can really have a negative impact, and having more competing companies in a sector can often be a good thing. With more companies fighting for a foothold in an industry that is dominated by a few large names, this can increase competition for wages and benefits for workers. This can cause sector-wide impacts on how workers are treated, how their salaries/benefits increase, and can even move into other job sectors, creating a change across the board that will improve workers' lives. It will be interesting if this new studio will succeed, and if their success will convince others that they can also create companies in this industry, leading to more competition and even more media creation to happen.
The first thought I had when reading just the title of the article was, “Wow, I can’t believe this is the first studio complex in Manhattan that’s crazy.” Then I thought about where they would put it, making me think about the probably huge amount of abandoned buildings and properties all over Manhattan that most likely cost a ridiculous amount of money, but that’s no obstacle for big investors. I also initially thought about how good this could be for the area surrounding the future studio and what new business that might bring. Then of course I began wondering if this is a smart move during a strike, but I really think it could be. While the strike is going on, companies can focus their resources on creating spaces that will be used once the strikes are over. As mentioned in the article, streaming services are taking over the film and TV industry, but the post-pandemic decrease of a need for constant streaming content has created a need for streaming services to create their own content. It will be interesting to see if streaming platforms really will use this space and what the impact will be on New York’s film industry.
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