- Surging viewership numbers on online streaming platforms, capacity constraints amongst legacy film studios have led to increased need for new facilities
- A number of new film studios have recently been commissioned, including ones in Montana and Long Island
- The Movie Studio is only major independent film studio in South Florida, placing it in ideal position to benefit from surge in demand for original content production
The Movie Studio (OTC: MVES), an independent Florida-based film studio, is set to benefit as a surge in demand for movie and television content has led to an increased need for film studios. With COVID restrictions across the globe leading to an exponential increase in OTT viewing figures, streaming companies such as Netflix and Disney+ are reporting record growth in their subscriber bases while newcomers including NBCUniversal’s Peacock and AT&T’s HBO Max are racing to develop original content programming which can be used to entice users to their platforms (https://ibn.fm/7b39G).
Parviz Farahzad, a Nassau County-based real estate developer, has recently struck a financing deal to construct a new film studio on Long Island, as demand for new content development and social distancing have led to a newfound need to build outside of the traditional California studio enclaves where films and tv shows have been habitually filmed in the past.
“I am delighted that the IDA is able to assist in bringing a third fully approved NYS sound studio to Nassau County, just as the film and television industry is making its comeback – with major players like HBO, Apple TV, Netflix and NBC all with projects in the works,” said Nassau County Executive Laura Curran.
In a separate deal announced in early September, media company Shadowcast Partners announced that they would build a $20 million studio-grade sound stage for television and film production in Missoula, Montana, describing the soon-to-be-built “Montana Media Hub” as an asset class that’s in high demand but is lacking supply (https://ibn.fm/N9oKT).
“This is really focused on television and film production, but it could also include streaming platforms such as Netflix, Amazon and Apple, or large network and cable giants like Paramount, Warner Brothers and Hallmark,” said Graham. “We think Montana is poised with the right investment to establish a strong new industry in the state due to the MEDIA Act and tax incentives passed last year.”
Based in Fort Lauderdale and founded in 1961, The Movie Studio Inc. is the only major independent film studio located in South Florida. Having previously produced and distributed major motion pictures in the state such as ‘Exposure’, ‘Bad Actress’ and ‘Dancing on the Edge’, The Movie Studio is now engaging in the pre-production of its next film, Cause & Effect, a Miami street movie about the seedy underbelly of South Florida nightlife, and has also begun pre-production on Pegasus, a family movie about a young girl and a horse which is planned to be their “signature film” (https://ibn.fm/XlwOL).
With the demand to produce and film original media content facing challenges from capacity constrained Hollywood studios, The Movie Studio’s unique business model and Florida location has positioned the company to benefit from the wave of growth within the OTT industry.
“The Movie Studio fulfills our objective as we enter the second tier of the digital revolution,” stated MVES president and CEO Gordon Scott Ventures. “We have confidence in the value proposition of the brand and our acceleration into the exploding digital motion picture universe.”
For more information, visit the company’s website at www.TheMovieStudio.com.
NOTE TO INVESTORS: The latest news and updates relating to MVES are available in the company’s newsroom at http://ibn.fm/MVES
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