Apple is reportedly looking to lease a large production campus in Los Angeles in order to grow its entertainment and streaming efforts.
The Cupertino, Calif.-based iPhone maker has scouted out several possible production lots, the Wall Street Journal reported Tuesday.
The new campus could exceed half a million square feet, adding to Apple’s current LA footprint, which includes leased sound stages that are used to film the company’s hit shows like “Ted Lasso” with Jason Sudeikis and “The Morning Show,” starring Jennifer Anniston and Reese Witherspoon.
Apple, which launched its streaming service AppleTV+ in late 2019, is one of the smaller players in the streaming wars, which are dominated by Netflix and Disney+. The Silicon Valley giant has been beefing up its spend on original films and series, but remains a more cautious, smaller player in the space.
A bigger push into Hollywood, however, would reinforce Apple’s commitment to entertainment. This year alone, Apple has announced a slew of big-name projects including Martin Scorsese’s highly anticipated Western, “Killers of the Flower Moon” starring Leonardo DiCaprio. It also calls into question whether Apple will finally acquire a movie and film studio like rival Amazon, which agreed to buy MGM for $8.45 billion earlier this year.
The Journal said part of Apple’s search for production locations is linked to the fact that much of the LA’s available space has been snapped up.
With the demand for new content hitting a fever pitch, sound stages across the city are booked months in advance. With a shortage of space, one source told the Journal that a square footage target “hasn’t been set” by Apple.
In order to facilitate the process, Apple hired Mike Mossallam, a lead production real-estate exec, in January. Mossallam previously worked as director of production planning and studio leasing at Netflix.
With Mossallam on the team, Apple may follow the Netflix playbook when it comes to finding production space. Netflix occupies several soundstages in LA, but has also built, purchased and developed its own campus in Albuquerque, New Mexico.
Apple did not return requests for comment.
