Construction at Sky Studios Elstree, Sky’s new state-of-the-art film and TV studio, reached a major milestone this week as the final steelwork was installed on the highest structure on site.
Set to become operational in early 2022 and fully open with 13 sound stages later in the year, Sky Studios Elstree will create 2,000 jobs locally and become home to new film and TV projects from Sky and NBCUniversal. It will attract £3bn of new production investment over the first five years alone.
Reaching a height of 16m, the final piece of steel was secured on the roof of an over 5,500 square metre soundstage using a specially made green bolt, representing Sky Studios Elstree’s ambition to become the world’s most sustainable film and TV studio.
The project, developed by Legal & General, constructed by BAM and made with the backing of Sky’s owner Comcast, and sister company NBCUniversal, was first announced in late 2019 with planning permission granted in summer 2020.
Just 16 months later, Rt. Hon Oliver Dowden, local MP for Hertsmere and member of the Cabinet, attended a Topping Out ceremony on site to secure the final bolt alongside Cllr. Morris Bright, Leader of Hertsmere Borough Council, Sajida Bijle, MD of Hertsmere Borough Council, Cécile Frot-Coutaz, CEO of Sky Studios, Nigel Wilson, CEO of Legal & General, and Adam Harding, Regional Director, South East of BAM.
Analysis / New era for Sky as historic partners go their own way
The TV studio marks a major investment in content for both Sky and NBCUniversal. Sky has historically relied heavily on US imports and partnerships with the likes of Disney, Discovery, HBO, Turner and Warner Bros to either fill its channel’s schedules or run channels on its pay TV service. Consolidation in the industry followed by the launch of multiple direct-to-consumer streaming services means Sky is no longer the sole gatekeeper of premium content as it once was. By 2024-2025 deals covering Warner Bros Discovery content, including HBO, will expire. Therefore, the race is on to provide Sky with a pipeline of entertainment shows and drama that (a) viewers will want to subscribe to and (b) can be re-used in stateside on NBCUniversal’s Peacock streaming service. The success of the Elstree studios could make or break Sky.
[Credit: Sky Group Newsroom]