FILE PHOTO of The Netflix logo is seen at its office in Hollywood, Los Angeles, California, USA July 16, 2018. REUTERS/Lucy Nicholson/File Photo GLOBAL BUSINESS WEEK AHEAD
TORONTO (Reuters) – Netflix Inc said on Tuesday it is creating a manufacturing hub with two studios in Toronto, which is expected to create 1,850 jobs every year.
Netflix will lease Cinespace Studios, a Toronto-based film studio consisting of four sound stages, office space and support space that measures 164,000 square meters, and Pinewood Toronto Studios, which measures 84,850 square meters, the streaming company said in a statement.
It has no information about the size of the latest investment or the duration of the lease.
In October 2017, Netflix secured the approval of the government to start with a C$500 million ($377 million) production unit in Canada, in the first device outside of the United States.
Netflix leases British Columbia on the basis of Martini Film Studios, along with other locations in Canada such as Calgary and Montreal on a production-by-production basis.
The Toronto studio’s work will be on the production for the next series and movies as horror anthology series “Guillermo del Toro Presents Ten After Midnight,” and the movie “Let It Snow.”
“With Cinespace with hosted 2 Best Picture Oscar – winners “Chicago” and “The Shape of Water’ – and that catalysed tens of thousands of jobs in the Studio in the Neighbourhood and on the Toronto waterfront, Netflix has a favorable choice for the new production hub,” Cinespace Studio CEO Steve Mirkopoulos said in the same statement.
Previous Netflix productions in Canada, ‘A Series of Unfortunate Events” and ” The Chilling Adventures of Sabrina and Polar.” The company has also partnered with the Canadian Broadcasting Corporation to show “Anne with an E.”
Reporting by Tyler Choi; Editing by Dan Grebler