£3bn production investment in UK creative sector expected in first five years alone.
Sky is to develop a major new studio at Elstree, creating over 2,000 new jobs, with a £3 billion production investment in the UK creative sector expected in the first five years alone.
Sky Studios Elstree – a 32-acre development which is expected to open in 2022 – will house 14 sound stages, with Sky aiming for it to become a new home for the best of British and European creative talent.
Subject to planning consent, the development will be able to facilitate the production of several films and TV shows simultaneously, with each of the stages covering over 20,000 sq ft.
Once complete, the site will include production offices, a set construction workshop, a screening cinema and state of the art post-production and digital facilities.
The new studio space will also play host to major film productions from Universal Pictures, Focus Features and Working Title, and television series from NBCUniversal Content Studios. It will also have capacity to host productions from third party producers.
It will also work in close collaboration with Elstree Studios, despite both businesses being managed independently of each other.
The development is made with the backing of Sky’s new owner Comcast and in partnership with sister company, NBC Universal. Legal & General will develop its site and provide financing for the project.
“Sky Studios Elstree will play a pivotal role in bringing the wealth of UK and European talent and creativity to the world,” said Jeremy Darroch, group chief executive at Sky.
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