Warner Bros Discovery Inc (NASDAQ:WBD) is set to expand its UK studios following the success of the Barbie movie, which had filmed several scenes at the site, reports revealed on Friday.
Undergoing a significant expansion next summer, the Leavesden facility, located near London, will increase its capacity by over 50% and is expected to help generate approximately 4,000 jobs, either directly or indirectly, across the country.
Additionally, the enlarged studios will serve as a primary production hub for DC Studios, the production home of iconic superheroes like Superman, Batman and Wonder Woman.
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Hey Ken, do you ever think about...
The new @wbd investment which will expand @WBSLeavesden ?????
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Find out more ⬇️ pic.twitter.com/97Ygzlae5z
— HM Treasury (@hmtreasury) September 22, 2023
Warner Bros Discovery's investment in the UK will grow by £200 million annually, totalling £600 million and is expected to generate £108 billion per year for the creative industry in the UK.
Chancellor Jeremy Hunt praised the announcement during a visit to Los Angeles, noting that it demonstrates a significant vote of confidence in the UK's entertainment industry.
He added that it means "British-made entertainment will continue to delight and entertain global audiences".
Expected to be completed by 2027, the studio will see a boost in the number of stages from 19 to 29. Warner Bros already received planning approval from Three Rivers District Council in December, followed by approval from Watford Borough Council the month after.