Netflix Is Paying Less Than $30 Million for Albuquerque Studios, Which Cost $91 Million to Build

Netflix is getting a steal on a huge TV and film production facility in Albuquerque, N.M. Netflix estimates it will make a total capital investment of about $30 million to acquire and improve ABQ Studios, located south of the city’s center, under…

Netflix is getting a steal on a huge TV and film production facility in Albuquerque, N.M. Netflix estimates it will make a total capital investment of about $30 million to acquire and improve ABQ Studios, located south of the city’s center, under a deal the streamer announced last week, according to documents filed with the […]

Netflix to Buy ABQ Studios in Albuquerque, Bring $1 Billion in Production

Netflix is in final negotiations to purchase Albuquerque, New Mexico-based studio, ABQ Studios, located in the city’s Mesa Del Sol community.

Upon the deal’s completion, the company plans to bring $1 billion dollars in production to New Mexico over the next 10 years and create up to 1,000 production jobs a year. This is Netflix’s first purchase of a production studio complex.

Netflix will produce film and television series in the new facility and at locations around the state, including irreverent apocalypse dramedy “Daybreak,” supernatural drama “Chambers” and epic, suspenseful drama “Messiah.” “Chambers” and “Messiah” are currently being produced in the Albuquerque area; both productions have provided jobs for over 700 New Mexican crew members. Previous Netflix productions in New Mexico include the “Godless,” “The Ridiculous Six” and “Longmire.”

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The studio complex has also been used for films including “The Avengers,” “Logan,” “The Long Rangers” and “Sicaro.”

On the TV side, AMC’s “Breaking Bad,” “Better Call Saul,” and “Preacher” have used the complex, as well as NBC’s “Midnight, Texas,” and Epix’s “Get Shorty.”

“Netflix is at the cutting edge of the film and television industry and it’s an honor to welcome them to New Mexico,” said Gov. Susana Martinez. “After years of hard work to cut taxes and make New Mexico business-friendly, we’re seeing incredible results. Now, New Mexico is leading the nation in economic growth and lowering unemployment and we’ve brought the world’s leading internet entertainment service, Netflix, to our state.”

The effort to bring Netflix to Albuquerque will be made possible through the Local Economic Development Act (LEDA) funding. The State of New Mexico will provide up to $10 million in LEDA funding and the City of Albuquerque will commit up to $4.5 million in local LEDA funding to the project.

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Netflix is in final negotiations to purchase Albuquerque, New Mexico-based studio, ABQ Studios, located in the city’s Mesa Del Sol community.

Upon the deal’s completion, the company plans to bring $1 billion dollars in production to New Mexico over the next 10 years and create up to 1,000 production jobs a year. This is Netflix’s first purchase of a production studio complex.

Netflix will produce film and television series in the new facility and at locations around the state, including irreverent apocalypse dramedy “Daybreak,” supernatural drama “Chambers” and epic, suspenseful drama “Messiah.” “Chambers” and “Messiah” are currently being produced in the Albuquerque area; both productions have provided jobs for over 700 New Mexican crew members. Previous Netflix productions in New Mexico include the “Godless,” “The Ridiculous Six” and “Longmire.”

The studio complex has also been used for films including “The Avengers,” “Logan,” “The Long Rangers” and “Sicaro.”

On the TV side, AMC’s “Breaking Bad,” “Better Call Saul,” and “Preacher” have used the complex, as well as NBC’s “Midnight, Texas,” and Epix’s “Get Shorty.”

“Netflix is at the cutting edge of the film and television industry and it’s an honor to welcome them to New Mexico,” said Gov. Susana Martinez. “After years of hard work to cut taxes and make New Mexico business-friendly, we’re seeing incredible results. Now, New Mexico is leading the nation in economic growth and lowering unemployment and we’ve brought the world’s leading internet entertainment service, Netflix, to our state.”

The effort to bring Netflix to Albuquerque will be made possible through the Local Economic Development Act (LEDA) funding. The State of New Mexico will provide up to $10 million in LEDA funding and the City of Albuquerque will commit up to $4.5 million in local LEDA funding to the project.

Related stories from TheWrap:

'Narcos' Showrunner Eric Newman Signs Overall TV Deal with Netflix

Shonda Rhimes, Matt Reeves to Develop Blake Crouch's New Book for Netflix Film, TV Universe

Jake Johnson to Play 'Foul-Mouthed' High School Basketball Coach in Netflix Adult Animated Comedy 'Hoops'