World news and discussion on TalkFuse.
Century-Old Hollywood Soundstage Complex Cuts Listing Price From $45 Million to $25 Million
The historic Occidental Studios lot near downtown Los Angeles has had its asking price slashed from $45 million to $25 million a year after first going on the market, reflecting a broader slowdown in Hollywood soundstage demand. The cut, made by owner Occidental Entertainment Group via broker CBRE, comes as reduced film and TV production spending since 2023 has left studio lots competing for fewer projects, forcing some to court YouTube creators and microdrama producers to fill capacity.
The Main Lot comprises four stages totalling 31,489 square feet plus eight office buildings and bungalows on 2.75 acres; the new listing drops a separate 4,500-square-foot mill building that was previously bundled in. Dating to 1913, the site has hosted stars including Mary Pickford, Charlie Chaplin and Douglas Fairbanks, and productions such as New Girl and Sharp Objects, with Disney, Paramount, Fox, NBC and Netflix listed as frequent clients. The wider market is in flux, with Hudson Pacific winding down Quixote soundstage leases, Netflix in talks over the Radford Studio lot, and Hackman Capital Partners potentially selling Television City and Manhattan Beach Studios.
In short
- Occidental Studios' asking price cut from $45m to $25m
- Reflects wider slump in LA soundstage demand since 2023
- Netflix, Hudson Pacific and Hackman Capital also reshaping studio market
Explained simply
A soundstage is a large warehouse-like building where television programmes and films are shot, and studios that own these facilities rent them to production companies. Hollywood soundstages are essential infrastructure for the entertainment industry, and the studios that own them have traditionally been profitable landlords to the hundreds of productions based in Los Angeles.
The film and television industry has undergone significant upheaval since 2023, with major studios and streaming services substantially reducing their production spending. This decline in output has created excess capacity among soundstage operators, meaning there are now more available studios than productions needing them, which limits what landlords can charge for leasing space.
Soundstage ownership is undergoing broader restructuring across Los Angeles as studios attempt to adapt to the changing conditions. When major historic facilities cut their asking prices dramatically or change hands, it signals significant shifts in how the entertainment industry functions and invests in the region.
Americas Entertainment Film World