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Television City To Get Major $1.25 Billion Expansion, Overhaul By Owner Hackman Capital

Y2kTheNewOldies

Y2kTheNewOldies

deadline.com

Television City To Get Major $1.25 Billion Expansion, Overhaul By Owner Hackman Capital

Real estate developer Hackman Capital is planning to spend $1.25 billion to overhaul the nearly 70-year-old West Hollywood landmark CBS Television City including adding sound stages to supply the s…
deadline.com deadline.com

Real estate developer Hackman Capital is planning to spend $1.25 billion to overhaul the nearly 70-year-old West Hollywood landmark CBS Television City including adding sound stages to supply the seemingly boundless demand.

The world’s first purpose-built television studio was built in 1952 and has expanded in a patchwork over the years. Hackman acquired the iconic 25-acre property for $750 million in 2019. CBS’ The Late Late Show With James Corden, The Price Is Right and The Young and the Restless are recorded at Television City as well as Dancing With the Stars, American Idol and Real Time With Bill Maher.
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seatownmedia said:
Don’t quite get this. Media today takes very little space. Sounds like a waste of space IMO.
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It depends on the "media." To be done well, TV needs space. It needs good lighting. Game shows need space to accommodate an audience. That's what some of those shows need. At some point, audiences will be allowed back into TV studios. The audience for The Price Is Right is part of the show. The other thing we know is technology is advancing, and studio layouts and equipment from 25 or 50 years ago are obsolete. Certainly there are a lot of bean counters who want to cut costs. That's partly why CBS sold the building in the first place. But the people in the business of facilities real estate have different goals, and that's why they're spending this money.

I'll say this: I've been in this building many times. It's become crowded and run down. It could use a fresh coat of paint. Some of the areas could use total demolition. The last time I was there, the audience for The Price Is Right was waiting outside in the front of the building for the show to begin. There was no place for them to go, and that made entry into the building (for me) a bit difficult. So hopefully the redesign will create a waiting area for this show's audience.
 
TheBigA said:
It depends on the "media." To be done well, TV needs space. It needs good lighting. Game shows need space to accommodate an audience. That's what some of those shows need. At some point, audiences will be allowed back into TV studios. The audience for The Price Is Right is part of the show.
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And when you have large staff counts and a studio audience, you need parking, janitorial, food service, security. There is a huge support structure for entertainment projects. Anyone who has lived a while in certain areas of LA (I've been in Hollywood, Toluca Lake, Brubank and Glendale myself) knows how big a support staff is needed to do a location shoot... even more are needed at studios where there are props and clothing and lighting and film and digital processing and a lot more.
 
Indeed, "media" is an overly broad catch-all. Some productions can be done in a proverbial closet, but those are more exceptions than the rule. If the owners have crunched the numbers and have good reason to believe they can attract and keep productions that need the bigger spaces, the investment makes sense.
 
AbrahamJSimpson said:
Indeed, "media" is an overly broad catch-all. Some productions can be done in a proverbial closet, but those are more exceptions than the rule.
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Most things *could* be produced from a closet. The Today Show could be done with something much smaller than 1A at 30 Rock, but that would make it a different show. Who Wants to Be a Millionaire could be produced via Zoom, but that would take something away from it.
 
PTBoardOp94 said:
Most things *could* be produced from a closet. The Today Show could be done with something much smaller than 1A at 30 Rock, but that would make it a different show. Who Wants to Be a Millionaire could be produced via Zoom, but that would take something away from it.
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do younger viewers even care about production values when youtube videos with low production values get more viewers than 60 minutes?
 
nomadcowatbk said:
do younger viewers even care about production values when youtube videos with low production values get more viewers than 60 minutes?
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People who make YouTube videos don't sell commercials. Google does that for them. So what you see is basically non-commercial production. The production values increase when the audience isn't just younger viewers, but the advertisers who are paying the costs.

Once the YouTubers get a budget, they spend it on production. Have you ever watched "Ryan's World?" The production values have improved from what the show was originally.
 
Sure everything can be done over zoom now. And for meetings and conferences that's fine. TV and movie production need sound stages.
 
SNL was done from home, but let’s be honest, it looks a heck of a lot better from the studio. The extraordinary circumstances may have shown us how things can be done differently and some of that may linger into the “after” world. As stopgap measures it made sense, but not permanently in their entirety.
 
AbrahamJSimpson said:
SNL was done from home, but let’s be honest, it looks a heck of a lot better from the studio. The extraordinary circumstances may have shown us how things can be done differently and some of that may linger into the “after” world. As stopgap measures it made sense, but not permanently in their entirety.
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SNL from home got better week 3. The first one was rough.
 
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