Warner Brothers expands the production capacity of its British studios by more than 50% – 09-21-2023
Warner Bros. Discovery said Thursday it plans to expand the production capacity of Leavesden Studios near London by more than 50% by adding 10 new sound studios to the facility where much of HBO’s blockbuster films “Barbie” and “House of the Dragon” are shown. Included.
The company said in a statement that the project, which was announced during the visit of British Treasury Secretary Jeremy Hunt to Los Angeles, is expected to create about 4,000 direct and indirect job opportunities in the United Kingdom.
Warner Bros. Discovery said the investment will also increase the value of Leavesden’s annual film and television production by £200 million ($245.9 million), to £600 million ($737.6 million annually).
The company did not disclose the total value of the investment in Watford, north of London.
This investment comes at a time when Warner Bros.’ production has taken a hit. Discovery is in California with its first joint strike by writers and actors in 63 years, delaying major projects and lowering revenue forecasts for the rest of this year.
Construction on the Leavesden project is scheduled to begin in the second quarter of 2024 and be completed in 2027. This brings the total number of phases at the facility to 29, up from 19 currently.
Hunt said in a statement that the Leavesden project is “a major vote of confidence in the UK – creating thousands of jobs and growing our economy – and means that British-made entertainment will continue to delight and entertain audiences around the world.”
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