The video production industry is needing Studios.
With the new norm for culture now mandating social distancing the video and audio production industries are now looking to shared workspace (what use to be called Co-Working Space) to accommodate their production needs.
The Change Changed Everything
When the global pandemic forced the world to stay at home, media consumption hit an all-time high.
According to a recent study by Nielsen, time spent streaming video content around the world increased by one billion hours from March to May this year.
With the rapid rise in video content consumption, big changes continue to happen in the video production industry.
This growth is leading to an evolution in how these small production companies think through their space requirements as they bring their employees back to the workplace.
Industry Related Amenities
Shared Workspaces offering amenities like screening and edit rooms help video production studios meet their rising demand. Being able to have their support vendors in office suites close at hand also helps media production stay on schedule.
Over 300 global media and video production companies have started leasing space in shared workspaces like WeWorks.
The shared workspaces that accommodate the video production industry’s need with ready-to-use, high-end amenities like screening suites, production studios, recording rooms, editing bays, and audio capture booths will be the faculties that when the long term leases and more importantly…the media industry’s loyalty.
Executive Suites Will Be Needed
In addition to high-tech amenities, many large media and entertainment industry clients will need additional space for their executive management teams or talent-facing interactions in marquee locations that mirror their studio’s branding.
Since most shared workspaces have lost most of their tenants now would be a great time to invest in what will naturally fill their offices and shared workspace.
A win-win is hard to find in the economy we are in. I suggest those shared workspaces with a large amount of unlesased offices should be marketing to the M&E Industry.
Let me know how I can help.
