Sky to build major new studio at Elstree
Sky is investing in a new 32-acre TV and film studio at Elstree, housing 14 sound stages and facilitating the production of several films and TV shows at once.
In terms of scale, the site will be on a par with Britain's current largest studios. Pinewood houses 18 stages, while Shepperton has 15.
In a statement, the commercial TV company said the new studio will be a "huge boost" to Britain's creative sector, creating over 2000 new jobs and generating £3 billion of production investment in the UK's creative economy over its first five years.
Sky also claims the development will provide "a significant capacity" for Sky Studios to produce more original content in-house.
It is expected to open in 2022.
“Sky Studios Elstree will play a pivotal role in bringing the wealth of UK and European talent and creativity to the world," said Jeremy Darroch, group chief executive at Sky.
"We know our customers love our award-winning Sky Originals like Chernobyl and our investment in Sky Studios Elstree will enable us to bring more unique stories to more viewers."
With the proposed development backed by Sky’s new owner Comcast and conducted in partnership with sister-company NBCUniversal, Darroch added that the trio share a "joint vision" to create a "world-leading" production capability.
Once complete, the site will include production offices, a set construction workshop, a screening cinema and state-of-the-art post-production and digital facilities.
Both Netflix and Disney - who rival Sky for audiences - have struck deals to set up production bases in the UK. Netflix has a permanent home at Shepperton, while Disney - which recently launched its streaming service Disney+ - has a base at Pinewood Studios.
Sky launched Sky Studios earlier this year, with plans to more than double the broadcaster's investment in originals over the next five years to approximately £1bn.