According to a recent report by CBRE, the New York Tri-State film and TV industry has made a strong comeback from last year’s labor disputes. This region, which is considered the birthplace of the sector over 125 years ago, currently boasts 34 active film and television projects in both New York and New Jersey – marking its highest number since Q3 of 2022.
In fact, there has been a notable increase in stage inventory this year with a growth rate of 12%. This can be attributed to new studio openings such as Borden Studios in Long Island City, Wildflower Studios in Astoria, and Grumman on Long Island. The report also highlighted that numerous industrial properties have been repurposed into production spaces for the TV and film industry across the metro area. As soundstage availability remains limited, these converted spaces have maintained steady demand.
However,”the rise of new supply coupled with professional studio operators entering into this market may present some competition for older stages located within converted manufacturing buildings,” stated the report.
Overall,the NY Tri-State film & TV sector is experiencing significant growth after facing challenges last year due to labor disputes – making it an exciting time for this iconic industry.
