Quixote scaling back LA stage business operations
New York Post • • general
Key Points:
- Hudson Pacific Properties is significantly scaling back its Quixote soundstage operations in Los Angeles, Georgia, and New Mexico, impacting about 70 employees amid ongoing production industry challenges.
- The company is closing leases at several LA sites, including Quixote West Hollywood and Van Nuys facilities, while keeping Griffith Park Studios open due to tenant commitments.
- This move reverses earlier aggressive expansion during the streaming boom, as production demand has cooled and studios have cut spending and reduced episode orders, leading to a decline in original TV series premieres.
- Hudson Pacific expects annual savings of $21 million to $27 million by downsizing Quixote operations and shifting resources toward higher-performing segments like its office portfolio and core studio services.
- Despite the pullback, core services such as fleet, equipment, and supply rentals remain operational, and key assets like Sunset Studios in LA continue to have strong tenant commitments, including Netflix through 2031.
