Obviously, the growth that Netflix is experiencing requires expansion on a variety of levels, and studios are a major part of that. At present, the California based Netflix has production facilities set up in Los Angeles and has announced that new production hubs are to be opened in Albuquerque, New Mexico and Madrid, Spain. The new space makes even more sense when one considers that plans for Netflix’s future includes greatly increasing their amount of original content, with over 250 original productions to be added to the 229 original titles already available on the streaming service platform.

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With much work to be done, Netflix has rolled up their sleeves and made a move into Canada’s ‘Hollywood North’, Toronto. Thanks to news website 24, we now know that new Netflix studio space will be opening up along Toronto’s downtown industrial waterfront area, where Cinespace Studios will lease 164,000 square feet of new sound stages and office space, in addition to 84,580 square feet of sound stages and office space leased from Pinewood Toronto Studios. The new move is expected to bring some 1,850 jobs per year to Toronto, as well as potentially breathing new life into Canada’s film industry.

The move comes at a time when Netflix is pushing forward in as many ways as possible, but also keeping a close watch on their finances. With 130 million current paid subscribers worldwide, the streaming giant has recently revealed their expected record negative $3 billion in free cash flow for this year. After announcing that The Criterion Collection providing something for all tastes.

For this reason, Let It Snow.

It’s hard to say what the future holds for Netflix and subscription based streaming services as a whole. For numerous years it looked as though Netflix stood alone in the subscription based streaming service market. But those days are now long gone and it seems that with its focus on creating original content a current priority, moves into film-friendly places like Toronto make for new and exciting possibilities on an entertainment landscape that Netflix helped establish.

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Source: 24