Amazon Studios moving to an iconic film facility
Amazon (AMZN) is moving its film team to a new location in Hollywood. The company announced that its Amazon Studios team of more than 700 people would relocate from its current location in Santa Monica to the Culver Studios in Culver City.
Amazon noted that the Culver Studios is one of Hollywood’s most iconic television and movie facilities, adding that the studio has been home to some of the most successful films in Hollywood history. Blockbuster films produced at the Culver Studios include Citizen Kane and Gone with the Wind.
A larger space and more jobs
Sharing in Culver Studios’ 100 years of production success isn’t the main driving force behind Amazon’s decision to relocate its film team to Culver City. The main reason behind the move appears to give the Amazon Studios team a bigger space to work from. In Culver City, Amazon Studios team would occupy more than 280,000 square feet.
Job creation also appears to be baked into the relocation of Amazon’s film operations to Culver City. The company said that the expanded office space in Culver City would create room for new jobs in a variety of areas such as creative, technical, marketing, and legal.
Early this year, Amazon joined China-based (MCHI) Alibaba (BABA) in promising to help create more jobs in the US (SPY). Amazon pledged to create more than 100,000 new full-time jobs in the next 18 months. Amazon closed 3Q17 with 541,900 employees globally.
Battle for strategic location in Hollywood
In 2016, Netflix leased a studio space at Sunset Bronson Studios, which is near Culver City and Amazon Studios’ new location. Apple also reportedly eyed the Culver Studios for its film team.