Netflix To Open Albuquerque Production Hub In Snub To L.A.

Netflix is opening a production hub in Albuquerque, where it plans to shift production for some of its films and TV shows, in an announcement that represents a snub of Los Angeles.
The streaming giant said it’s in final talks to acquire ABQ Studi…

Netflix is opening a production hub in Albuquerque, where it plans to shift production for some of its films and TV shows, in an announcement that represents a snub of Los Angeles. The streaming giant said it’s in final talks to acquire ABQ Studios, a facility with eight sound stages, production offices and a back lot in Albuquerque's Mesa Del Sol. Netflix says it will use the new studio for production of its irreverent apocalypse dramedy Daybreak, supernatural drama Chamb…

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.”

Also Read: 5 Takeaways From TheGrill 2018: The Netflix Arms Race, MoviePass’ Future and More

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'

Amazon Delivers Blowout Q3 Earnings, Stock Jumps 7 Percent After Hours

Amazon continues to deliver for its investors, as the internet commerce behemoth posted another monster quarter, blowing past expectations on revenue and earnings.

After the close of markets Wednesday, Amazon reported revenue of $43.74 billion and earnings of 52 cents a share for the three months ended September 30. For the corresponding period last year, Amazon generated $32.71 billion in revenue and earnings of 52 cents a share. Analysts had projected $42.14 billion in revenue and earnings of 3 cents a share on average.

Amazon founder and CEO Jeff Bezos emphasized the growth of the company’s Alexa voice assistant protocol (and the Echo robot speakers that use it) when detailing the company’s many milestones in the quarter.

“In the last month alone, we’ve launched five new Alexa-enabled devices, introduced Alexa in India, announced integration with BMW, surpassed 25,000 skills, integrated Alexa with Sonos speakers, taught Alexa to distinguish between two voices, and more. Because Alexa’s brain is in the AWS cloud, her new abilities are available to all Echo customers, not just those who buy a new device,” Jeff Bezos said in a statement. “And it’s working — customers have purchased tens of millions of Alexa-enabled devices, given Echo devices over 100,000 5-star reviews, and active customers are up more than 5x since the same time last year. With thousands of developers and hardware makers building new Alexa skills and devices, the Alexa experience will continue to get even better.”

Amazon also provided guidance for the fourth quarter of the year, estimating its total revenue to be between $56 billion to $60.5 billion, which would be a 28 to 38 percent increase over the fourth quarter of last year.

Amazon Studios is largely viewed as a sweetener to get people to sign up for Prime, but after a string of expensive shows that failed to make an impact — and sexual harassment allegations against chief Roy Price — the company has changed its top leadership. Price, head of unscripted Conrad Riggs and head of comedy and drama Joe Lewis have all left the company in this month.

Also Read: Roy Price Resigns From Amazon Studios Following Sexual Harassment Allegations

However, Amazon’s entertainment business remains a small part of the total enterprise. The company enjoyed another successful Prime Day July 11, which Amazon said delivered more sales than any other day in its history. It also absorbed Whole Foods this past quarter, closing its $13.7 billion buyout of the organic market in August.

The deal was part of a concerted effort to start plowing its massive sales back into the company. On its earnings call back in July, Amazon CFO Brian Olsavsky hinted at the third quarter being a heavy investment period as it ramps up for the holiday season. (Amazon’s fourth quarter sales counted for nearly a third of its total sales in 2016.) And just this week, Amazon announced Amazon Key, a smart lock and camera-enabled system that would allow its delivery drivers to drop off packages inside people’s homes.

Amazon’s dominance was reinforced in September, when the company announced its plans to build a second headquarters capable of accommodating up to 50,000 workers. The project kicked off a massive bidding war, with 238 cities falling over themselves to woo the global powerhouse. “Jeff, come home,” Richard Berry, mayor of Albuquerque, New Mexico, pleaded with Bezos. “We’d love to have you.”

Also Read: Amazon Studios Shakeup: Joe Lewis Exits as Head of Comedy and Drama

At the same time, Wall Street has kept its love affair going with Amazon. Since hitting its all-time high of about $1,050 before its second quarter earnings, shares of Amazon have hovered between $950 and $1,000 for the last three months.

Amazon will hold a conference call at 5:30 p.m. ET to discuss the earnings.

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Amazon Studios Names Heather Schuster Head of Unscripted, Replacing Conrad Riggs

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Amazon Studios Shakeup: Joe Lewis Exits as Head of Comedy and Drama

Amazon continues to deliver for its investors, as the internet commerce behemoth posted another monster quarter, blowing past expectations on revenue and earnings.

After the close of markets Wednesday, Amazon reported revenue of $43.74 billion and earnings of 52 cents a share for the three months ended September 30. For the corresponding period last year, Amazon generated $32.71 billion in revenue and earnings of 52 cents a share. Analysts had projected $42.14 billion in revenue and earnings of 3 cents a share on average.

Amazon founder and CEO Jeff Bezos emphasized the growth of the company’s Alexa voice assistant protocol (and the Echo robot speakers that use it) when detailing the company’s many milestones in the quarter.

“In the last month alone, we’ve launched five new Alexa-enabled devices, introduced Alexa in India, announced integration with BMW, surpassed 25,000 skills, integrated Alexa with Sonos speakers, taught Alexa to distinguish between two voices, and more. Because Alexa’s brain is in the AWS cloud, her new abilities are available to all Echo customers, not just those who buy a new device,” Jeff Bezos said in a statement. “And it’s working — customers have purchased tens of millions of Alexa-enabled devices, given Echo devices over 100,000 5-star reviews, and active customers are up more than 5x since the same time last year. With thousands of developers and hardware makers building new Alexa skills and devices, the Alexa experience will continue to get even better.”

Amazon also provided guidance for the fourth quarter of the year, estimating its total revenue to be between $56 billion to $60.5 billion, which would be a 28 to 38 percent increase over the fourth quarter of last year.

Amazon Studios is largely viewed as a sweetener to get people to sign up for Prime, but after a string of expensive shows that failed to make an impact — and sexual harassment allegations against chief Roy Price — the company has changed its top leadership. Price, head of unscripted Conrad Riggs and head of comedy and drama Joe Lewis have all left the company in this month.

However, Amazon’s entertainment business remains a small part of the total enterprise. The company enjoyed another successful Prime Day July 11, which Amazon said delivered more sales than any other day in its history. It also absorbed Whole Foods this past quarter, closing its $13.7 billion buyout of the organic market in August.

The deal was part of a concerted effort to start plowing its massive sales back into the company. On its earnings call back in July, Amazon CFO Brian Olsavsky hinted at the third quarter being a heavy investment period as it ramps up for the holiday season. (Amazon’s fourth quarter sales counted for nearly a third of its total sales in 2016.) And just this week, Amazon announced Amazon Key, a smart lock and camera-enabled system that would allow its delivery drivers to drop off packages inside people’s homes.

Amazon’s dominance was reinforced in September, when the company announced its plans to build a second headquarters capable of accommodating up to 50,000 workers. The project kicked off a massive bidding war, with 238 cities falling over themselves to woo the global powerhouse. “Jeff, come home,” Richard Berry, mayor of Albuquerque, New Mexico, pleaded with Bezos. “We’d love to have you.”

At the same time, Wall Street has kept its love affair going with Amazon. Since hitting its all-time high of about $1,050 before its second quarter earnings, shares of Amazon have hovered between $950 and $1,000 for the last three months.

Amazon will hold a conference call at 5:30 p.m. ET to discuss the earnings.

Related stories from TheWrap:

Amazon Studios Names Heather Schuster Head of Unscripted, Replacing Conrad Riggs

Amazon's Head of Unscripted Conrad Riggs Becomes Latest Exec to Depart Company

Amazon Studios Shakeup: Joe Lewis Exits as Head of Comedy and Drama