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2023 Tri-State Film & Television Report

June 20, 2023 10 Minute Read

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The Tri-State film production industry continues to push forward, adding hundreds of millions in state tax incentives and constructing dozens of new soundstages, even as new streaming subscriptions begin to taper and the Writers Guild of America strike portends a slowdown in near-term content creation.

 

The Tri-State New York region is home to nearly 300 soundstages containing over 2.7 million square feet of production space with nine new facilities containing dozens of new stages currently under development.

 

Fifty-three percent of production space belongs to Tri-State’s five largest studios: Broadway Stages, Steiner Studios, Silvercup Studios, Gold Coast Studios, and Grumman Studios. The focal point of the region’s film production industry is centered in the neighborhoods along the Queens and Brooklyn border, including Long Island City, Greenpoint and Bushwick.

 

Since 2010, nearly 150 production and postproduction firms have signed leases in New York City, taking a combined 4.1 million square feet. These firms, with relatively small space requirements, are responsible for generating and editing the content that is funded by major networks and often filmed on the streets and soundstages of the Tri-State region.

 

The New York State Film Production Tax Credit has been renewed through 2034 with an annual funding level of $700 million, which was increased from the $420 million allotment that had been maintained since 2010.

 

Even as the industry grapples with slowing streaming subscriptions and the Writers Guild of America strike, the Tri-State New York region is expected to remain a desirable location for content production due to the region’s deep talent pool, growing inventory of modern soundstages, and generous tax incentives.