Los Angeles' Occidental Studios, a historic film production site operating for 112 years, is now up for sale with an asking price of US$45 million (approximately HK$350 million). The studio, located in the Echo Park neighborhood, has been a witness to Hollywood's evolution from the silent film era to the age of streaming.
Occidental Studios, recognized as one of the oldest continuously operating studios in Los Angeles, has been in use since 1913. It holds a significant place in Hollywood history, having hosted silent film stars such as Mary Pickford and Douglas Fairbanks in its early days. In recent years, it has remained a popular location for the production of hit TV series.
The studio's prime location, historical value, and flexible facilities make it an attractive prospect for production companies, streaming platforms, tech creatives, and long-term investors seeking development opportunities. A seasoned commercial real estate agent managing the sale highlighted that this is currently the only complete studio lot available for purchase in Los Angeles.
However, challenges loom over Los Angeles' production landscape. A nonprofit study revealed that filming activity in the first quarter of 2025 was down 22% compared to the same period last year. Studio utilization rates have also dropped, from a peak of 90% in 2022 to just 63% in 2024. This decline is attributed to the pandemic, ongoing strikes by writers and actors, and the migration of productions to places like Georgia, Canada, and the UK, which offer more competitive tax incentives.
To counter these trends, Los Angeles city officials and the California state government are stepping up efforts to retain film projects. Mayor Karen Bass has issued executive orders simplifying the approval process for film production, while the state legislature is expanding its tax credit program to support local shoots.
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