Los Angeles studio expansion – Hollywood’s Big Comeback: A Billion-Dollar Gamble on the Future

Los Angeles, the historic heart of Hollywood, is fighting to reclaim its dominance in the entertainment industry after a tumultuous 2024. According to FilmLA, production numbers have dropped to alarming lows, even falling below 2023’s strike-affected levels. While tax incentives in states like Georgia and international destinations lure productions away, California is not giving up its title without a fight.
Governor Gavin Newsom has bolstered the state’s film tax credit to $700 million, but private investors are taking even bigger leaps of faith. Nowhere is this more evident than at the iconic CBS Television City studio campus, which is poised for a $1.25 billion expansion and modernization project led by the multidisciplinary design firm RIOS.
Television City’s Transformative Vision
Built in 1952 as the first purpose-built television studio by architects William Pereira and Charles Luckman, CBS Television City was designed with flexibility and scalability in mind. Its original vision foresaw the potential for significant expansion—a vision now being realized.
According to Hackman Capital Partners, the owners of Television City, the redevelopment will transform surface parking lots into 1.1 million square feet of new studio and office space, more than doubling the complex’s current footprint of 750,000 square feet.
Key Features of the Los Angeles studio expansion:
- Addition of 15 new soundstages, bringing the total to 24.
- Creation of state-of-the-art support facilities, production base camps, and a new commissary.
- Development of a multi-modal mobility hub and pedestrian-friendly streetscape upgrades.
- Introduction of a robust transportation demand management program to ease traffic and accessibility.
Bob Hale, creative director at RIOS, highlights how the expansion aligns with Pereira’s original futuristic vision:
“This plan allows the studio to accommodate evolving technologies, sustainable infrastructure, and enhanced community and production experiences.”
Economic Impact
The ambitious project is not just a boon for Hollywood but also for the local economy. A study by the Los Angeles Economic Development Corporation estimates the expansion will generate nearly 19,000 direct, indirect, and induced jobs, underscoring its potential to revitalize the industry and the surrounding community.
LA’s Studio Renaissance
Television City is not the only player betting big on LA’s entertainment revival. Other transformative investments include:
- Hackman Capital Partners: A $1 billion upgrade of the historic Radford Studio Center, home to Seinfeld and Will & Grace.
- Warner Bros.: A $500 million expansion of its Burbank Ranch, set to complete in 2025.
- East End Studios: A $230 million complex in the Arts District.
- Bardas and Bain Capital: Converting a former Sears building into the cutting-edge Echelon Studios.
- San Diego’s Entry: An $85 million virtual production facility.
The Bigger Picture
These billion-dollar investments are a vote of confidence in LA’s future as the global entertainment capital. Despite short-term challenges, Hackman Capital’s Zach Sokoloff is optimistic:
“We are confident these cycles will work themselves out, and Los Angeles will continue to be the global capital of media.”
A Bright Future
With 3.5 million square feet of new soundstage space in development across Greater LA, the city is laying the groundwork for a Hollywood resurgence. Projects like Television City’s revamp not only modernize facilities but also position LA to lead the next era of entertainment, from traditional production to cutting-edge virtual and digital advancements.
In a city built on dreams, these investments signal an enduring belief that Hollywood’s best days are yet to come. After all, you don’t build billion-dollar studios unless you’re certain the cameras will keep rolling.
Connect with us with any type of 3D and VFX related production and postproduction, let’s create together.