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Direct-to-consumer entertainment provided by streaming services has caused original   content creation for scripted series in Hollywood to almost double since 2011. Streaming services represented 2% of the 266 original series produced in 2011 and as of year-end 2018 it represented 32% of the 495 original series, according to FX Network Research. This growth has more than doubled annual demand for industrial entertainment-and production-related space in the Greater Los Angeles region, with a high concentration in the San Fernando Valley. More than 1.7 million sq. ft. of production space was leased in 2018 compared with 780,000 sq. ft. in 2011. The ongoing shift toward streaming services for entertainment consumption, and further confluence of the technology and media industries will not only drive further industrial real estate growth, but also become a more important source of economic growth.

Source: FX Network Research, Cowen & Co Consumer Tracking Survey, CBRE Research 2019​.

Source: FX Network Research, Cowen & Co Consumer Tracking Survey 2018.
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