Hollywood has always been synonymous with California's
glitziest and most glamorous hot spots. From its earliest days the
industry has been at home in the many cities and exclusive celebrity
communities that dot around Sunset Boulevard.
But the current financial crisis has left some of the biggest studios
scrambling for funds. It seems that Tinseltown's biggest movers may be
considering moving Hollywood abroad, and Dubai happens to be one of the
most promising locations bidding to play a part in this change.
During this year's American Film Market in Santa Monica, representatives from Dubai's Studio City
met with over 8,000 representatives from 70 different countries to
showcase what the emirate has to offer the film production industries
around the world. As part of Dubai's Media City,
this new addition features complete sound stages, both indoor and
outdoor pre-built studios, backlots, stages, broadcast centres,
post-production studios and much more. More importantly, it offers the
kind of long-term investment returns that have become extremely
difficult to secure in established industries in places like the U.S.
Time Magazine has reported that the financial crashes involving Wall Street's biggest money makers have left big name studios like Spielberg's Dream Works SKG desperately short of raising millions of dollars in debt financing. Since Hollywood had come to rely on Wall Street and banks to invest these millions, the sharp about-turn of the financial industry has forced studios to seek different partners after the likes of Merrill Lynch, Lehman Brothers, Deutsche Bank and Dresdner Kleinwort pulled out. Dubai Studio City's representatives see this as an opportunity to secure the emirate as a vital player in international commercial, television and cinema production.
Spread over 22 million square feet, with 14 world-class sound stages and an additional 3.5 million square feet dedicated to outdoor shooting, studios, business centre, hotel and residential space, Studio City's greatest appeal is its one-stop convenience. There are even plans to house film and television academies. What's more, Studio City's modern versatility is designed to appeal to everyone, which means aside from big film houses it's also going to give independent broadcast and film studios, freelancers, post-production and industry support-services providers a competitive advantage they cannot find in traditional markets.
Combine this ease of access to space and resources with the power and proximity of Dubai Media City and you'll begin to see why the emirate has come to play such a vital role in the international market. While countries like the United States, Britain and Germany are struggling to cure deficits in the billions, Dubai is spending billions creating new opportunities in virtually every commercial sector.
Scroll through the many jobs posted on Jobs In Dubai and you'll see the diverse positions in demand across the emirate. The breakneck speed of Dubai's economic growth, evident in multibillion dollar projects like Studio City, means job seekers from around the world can capitalize on a strategic, diverse and competitive job market. Use JID job hunting tools to see what you need for a career in Dubai.
Embedded References:
http://en.wikipedia.org/wiki/Dubai_Studio_City
http://www.arabianbusiness.com/537276-hollywood-urged-to-choose-dubai-for-movies
http://www.time.com/time/business/article/0,8599,1842122,00.html
http://www.dubaistudiocity.ae/
http://www.ifta-online.org/afm/home.asp
http://en.wikipedia.org/wiki/Sunset_Boulevard
Time Magazine has reported that the financial crashes involving Wall Street's biggest money makers have left big name studios like Spielberg's Dream Works SKG desperately short of raising millions of dollars in debt financing. Since Hollywood had come to rely on Wall Street and banks to invest these millions, the sharp about-turn of the financial industry has forced studios to seek different partners after the likes of Merrill Lynch, Lehman Brothers, Deutsche Bank and Dresdner Kleinwort pulled out. Dubai Studio City's representatives see this as an opportunity to secure the emirate as a vital player in international commercial, television and cinema production.
Spread over 22 million square feet, with 14 world-class sound stages and an additional 3.5 million square feet dedicated to outdoor shooting, studios, business centre, hotel and residential space, Studio City's greatest appeal is its one-stop convenience. There are even plans to house film and television academies. What's more, Studio City's modern versatility is designed to appeal to everyone, which means aside from big film houses it's also going to give independent broadcast and film studios, freelancers, post-production and industry support-services providers a competitive advantage they cannot find in traditional markets.
Combine this ease of access to space and resources with the power and proximity of Dubai Media City and you'll begin to see why the emirate has come to play such a vital role in the international market. While countries like the United States, Britain and Germany are struggling to cure deficits in the billions, Dubai is spending billions creating new opportunities in virtually every commercial sector.
Scroll through the many jobs posted on Jobs In Dubai and you'll see the diverse positions in demand across the emirate. The breakneck speed of Dubai's economic growth, evident in multibillion dollar projects like Studio City, means job seekers from around the world can capitalize on a strategic, diverse and competitive job market. Use JID job hunting tools to see what you need for a career in Dubai.
Embedded References:
http://en.wikipedia.org/wiki/Dubai_Studio_City
http://www.arabianbusiness.com/537276-hollywood-urged-to-choose-dubai-for-movies
http://www.time.com/time/business/article/0,8599,1842122,00.html
http://www.dubaistudiocity.ae/
http://www.ifta-online.org/afm/home.asp
http://en.wikipedia.org/wiki/Sunset_Boulevard
Leave a comment