When completed, it will be the company’s second-largest U.S. hub.
the New Jersey property was chosen to be the company’s East Coast production hub for reasons including the “great scenic backdrops, the proximity to major metropolitan areas and the fact that we were able to get a large swath of land close to 300 acres.”
Dalal said the production hub will be completed in 2027, and the company estimates it would support at least 1,4000 jobs and could generate between $7.4 billion and $8.9 billion in output over 20 years. The Fort Monmouth Economic Revitalization Authority is expected to approve the plan at a meeting on Wednesday night,Earlier this year, Netflix lost subscribers for the first time in a decade, sending its stock price down. This summer, it took several cost-cutting measures, including laying off 400 employees. In October, the company announced it had gained subscribers and estimated it would continue to do so in the fourth quarter of this year.
reported the company was still eying cost cuts. Sources told the outlet steps including limiting corporate swag, reducing its real estate footprint, hiring more junior staffers. Still, the company said it would maintain its new movie and TV programming.reported the company’s newly launched ad-supported tier only represented 9% of subscribers who signed up last month.
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