Netflix Plans To Buy Its First Production Studio In Albuquerque

By , in Technologies on .

The streaming company Netflix is growing its media empire to Albuquerque.

Netflix announced on Monday that it is in the final stages of negotiations to buy ABQ Studios, a production studio in New Mexico’s largest city. This will be the first studio complex of the company.

Netflix has been working on producing more of its original series in the recent few years. It has plans to make the studio hub home to some of those shows.

Two upcoming Netflix series, the dramas “Chambers” and “Messiah,” are already being shot in New Mexico and will be produced at this newly purchased studio. Netflix has the plan to produce its third show “Daybreak,” will also there.

Netflix says the studio will create up to 1,000 jobs per year. State and local officials will also provide $14.5 million in funding for the project. The city’s mayor and the governor of New Mexico called Netflix’s move as an economic win for Albuquerque.

Netflix did not release any further details about the new purchase in the statement.

Netflix (NFLX) has been growing rapidly. According to a report published by the company, it now has about 130 million customers worldwide.

It is also spending a lot on its original shows productions. Only this year, Netflix spent $8billion on its original productions.