Fox To Build 9 More Soundstages in Los Angeles as Streaming Boosts Demand for Production Space

Development Projected To Have $1.5 Billion Direct Impact on Century City Area?

Fox Corp., one of the biggest entertainment companies based in Los Angeles, is expanding its soundstage space to meet the soaring demand for production studios for streaming TV programs and movies.

The media giant, based in New York, plans to build nine soundstages at its longtime production home in Century City at?10201 W. Pico Blvd., according to a statement by Fox.?

The announcement comes after similar growth is planned across greater Los Angeles at lots for CBS, NBCUniversal and Warner Bros. Discovery. In February, Radford Studio Center — where hit TV shows "Seinfeld," "Gilligan’s Island" and "Will & Grace" were produced and filmed —?revealed plans for $1 billion in upgrades?to its studios at 4024 Radford Ave. in the Studio City neighborhood.

The move is expected to support the generation of more digital entertainment as studios have in the past scrambled to find space to develop content.?

Fox's construction could have a $1.5 billion direct local economic impact, according to the statement. Other construction includes a 24-story media campus office building along Olympic Blvd.

Fox also said it's interested in finding a development partner to build a 35-story building on the northeast portion of its lot along Avenue of the Stars "to attract notable corporate presence and provide a new headquartering opportunity in Century City," according to the statement. The move was reported earlier Thursday by?the Los Angeles Times.

'Iconic and Treasured'

“The Fox Studio Lot is one of the most iconic and treasured production locations in the history of entertainment,” Lachlan Murdoch, executive chair and CEO of Fox, said in the statement. “The Fox Future project represents a long-term commitment to our industry, to our community and to the city of Los Angeles.”

Fox's investment in expanding its studio lot spanning roughly 50 acres in Los Angeles comes?after it spent $13.5 million for roughly 10,600 square feet of properties at 10271-10275 W. Pico Blvd.?in December.?

Fox did not respond to a request to comment from CoStar News on whether those properties may be part of its future construction plans.

Fox's lot currently contains 15 soundstages and other facilities totaling roughly 2 million square feet. The lot opened in October 1928. Fox owns the lot, not Walt Disney Co., because the property was not included in the sale of 21st Century Fox's entertainment assets to Disney in 2019. Walt Disney currently leases the studio property from Fox.

Studio space remains in strong demand in Los Angeles with the added movie and TV show production. Some 5.4 million square feet of certified stage space exists in greater Los Angeles. Another 9.2 million square feet of soundstage space is proposed or under construction, according to a September report from Savills.

That said, there are concerns soundstage production?could outpace demand. There was a 2.4% year-over-year decrease in shoot days in Los Angeles in 2022, according to not-for-profit organization Film LA, a Los Angeles-based group.

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