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Excerpt from Forbes, "Netflix said Wednesday it plans to invest $850 million into an East Coast production hub in Fort Monmouth, New Jersey, the Hollywood Reporter reported, even as it struggles to maintain its lead in the streaming wars with other platforms. The company bid $55 million for the nearly 300-acre former military base, which the New York Times reported in October. With the additional $850 million investment, Netflix plans to build 12 sound stages, production support and a backlot, according to the Hollywood Reporter, making it the streaming service's second-largest production hub in the U.S., second to one in Albuquerque, New Mexico, according to Deadline." Read the full article here.

Michael Abboud , January 3, 2023
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