United Kingdom (Commonwealth Union) –This acquisition marks a significant vote of confidence in the thriving film and TV industry of Wales. Alongside the site purchase, the Welsh Government and Cardiff Capital Region have committed an £18 million funding package for the expansion and enhancement of the Wentloog studios and facilities. Of this sum, £12 million will be sourced from debt finance via the CCR’s £50 million Strategic Premises Fund, with the remaining £6 million provided as grant funding through Creative Wales.
This substantial investment by Great Point Studios will facilitate the transformation of the studio into a self-sustaining, world-class facility. This upgraded studio will not only cater to the growing demand for production but will also stimulate job creation, economic growth, and prosperity within the local supply chain and the wider region. Moreover, the inclusion of a collaborative training center will help nurture local talent and establish the studio as a hub for innovation in virtual production.
The project’s scope encompasses the development of 257,000 square feet of top-tier production space, comprising four state-of-the-art studios and a comprehensive support infrastructure. Furthermore, this initiative is set to boost freelance crew opportunities to accommodate up to 750 individuals annually, a significant increase from the current 250. Notably, this Welsh studio will serve as the new headquarters for Great Point Studios.
Great Point Studios, a company specializing in media infrastructure for film and television, continues to expand its presence following the successful development of Lionsgate Studios in Yonkers, NY. The company has also ventured into other studio campuses in Buffalo, NY, and Newark, NJ. Additionally, they recently announced plans for a major production facility in Atlanta, Georgia, an endeavor that aligns with Economy Minister Vaughan Gething’s ongoing US visit.
Deputy Minister for Arts, Sport and Tourism, Dawn Bowden, says “This is a very exciting time for the Creative sector in Wales, and Great Point Studios purchase of the studio and their planned investment is another show of confidence in Wales as a brilliant and established location for film and TV productions.”
