A combination of rising labor costs and weak tax credit structures has led to more studios and movie producers moving east to make feature films.
“Over the past several years, Hollywood has become very expensive to produce movies,”Jake Shapiro, CEO at Medient Studios. “In my opinion, Georgia will be the new Hollywood.”
Georgia.org reports that in 2013, alone, TV networks, Hollywood studios and production companies, as well as independent producers, invested over $3.3 billion in Georgia’s film industry.
Medient Studios is a 12-year old production company that has leased a 1.560-acre property in Effingham County to build a film. “Studioplex.”Mediat Studios (OTC ID: MDNT), is building what many consider the most ambitious public/private partnership of all time. The property is roughly the same size and will house over 2 million square feet worth sound stages and post production facilities.
Shapiro, the newly appointed CEO of Medient Studios, is leading the charge. A Rutgers University honors grad, the financier was key in negotiating Georgia’s original public/private partnership. He has a long history capital formation for small- to mid-cap-sized businesses.
“We are in the process of building an intellectual property factory,” says Shapiro. “A factory serves two primary purposes — to increase production and reduce costs. The Medient Studioplex in Georgia is disruptive to conventional Hollywood wisdom, whereby there is little to no alignment between the film investors and the producers who actually spend the money. By focusing on producing great content, with factory efficiencies, our team believes it can generate profit margins unheard of in the entertainment business.”
Visit www.amazon.com for more information www.medient.com.
