Netflix Executive Touts Golden Era of Streaming Service

ALBUQUERQUE, N.M.—An executive with Netflix says the streaming giant has boosted its original content exponentially over the last several years and that will mean more action for its production hub in New Mexico, where state officials have been busy trying to woo more big partners in the industry.

Nick Maniatis, who ran the states film office before going to work for Netflix, spoke to a group of hundreds of business leaders and elected officials who were gathered Dec. 5 in Albuquerque. He described it as a “golden era,” saying the amount of content thats out there is amazing.

“A year ago you could say all the major studios—take Disney, Warner Bros., Paramount, Fox, all of them combined—would do about 300 or 400 projects a year. This year, we will do 1,000 projects, just Netflix,” he said.

The pace of production is showing no signs of slowing down as Disney and others are planning new products. Maniatis said that will surely lead to a dearth of sound stages.

Thats where New Mexico is hoping to fill the void.

Its already home to Netflixs first U.S. production hub. The company partnered with the state and the city of Albuquerque in purchasing a studio complex on the citys southern edge, pledging to invest $1 billion in production in the state over the next decade. It has put more than $2 million into renovating the studios so far and its offices there are expected to be complete by the end of the month.

“We have a lot more to bring to New Mexico,” Maniastis said, teasing about some new developments. “I cant really tell you about it other than to say were really pushing forward into the future with how production will be done. Weve got some really innovative ways to do it and were going to do a lot of that here in New Mexico.”

The company also says its on track with meeting spending and employment benchmarks promised as part of the partnership with the state. Netflix and state officials are planning to announce the progress in the coming weeks.

NBC Universal is in midst of turning a warehouse near downtown Albuquerque into a state-of-the-art television and film studio. It has committed to spending $500 million on productions in the state over the next decade.

Both NBC Universal and Netflix also plan to put money each year toward film industry training initiatives.

Alicia J. Keyes, secretary of the New Mexico Economic Development Department, is just back from Los Angeles where she met with another company interested in coming to New Mexico. She said the state has shifted the conversation from one-off shows to partnerships with studiosRead More – Source