Netflix has made a deal to locate a permanent production base at Shepperton Studios as it plans to spend more of its $13 billion (€11.5bn) annual production budget in the UK.
Netflix made more than 40 productions in the UK last year, including The Crown and Sex Education and has been searching for a base that ensures the boom in demand for studio space doesn’t hinder its plans to make TV shows and films without delays.
The deal guarantees Netflix exclusive access to most of the facilities at Shepperton’s west London studios, including its 14 sound stages, from October.
Paul Golding, the chief executive of Shepperton’s parent Pinewood, said that the deal represented a huge boost to the UK’s status as a major destination for film and TV production.
Details of the deal with Shepperton are not revealed but it is likely that Netflix has struck at least a 10-year agreement.
“Shepperton has been synonymous with world class film for nearly a century and it’s an important production hub for the UK creative community today. We’re incredibly proud to be part of that heritage. This investment will ensure that British creators and producers have first rate production facilities and a world stage for their work,” said Ted Sarandos, Chief Content Officer, Netflix.
“We’re pleased to welcome Netflix to Shepperton Studios. Netflix’s decision to base their production hub at Shepperton is a strong vote of support for the Pinewood Group and gives us great confidence as we expand our UK studios. Our plans, which represent the single biggest expansion of stage space across the UK, will see Pinewood Group open twenty-two new sound stages, enabling us to host even more productions. This growth will help secure the ongoing success of the UK film and TV industry”, added Paul Golding, Chairman, Pinewood Group Limited.