Apple to build new office in Los Angeles
"These streaming giants are betting on the strength of demand for content even after the pandemic is over"
What you need to know
- Apple is building new offices in LA.
- They'll be located in the Culver City area where Apple TV+ is currently based.
- It signifies Apple's desire to further invest in its streaming platform.
Apple is building new offices in the Culver City area of Los Angeles as its continues to push its Apple TV+ streaming platform.
In a sign that competition among streaming entertainment providers will stay heated in the years ahead, Apple announced Friday that it will roughly double its office presence in the Culver City area where Apple TV+ is based. The expansion of more than 550,000 square feet in two adjoining buildings is larger than expected by real estate industry observers. Apple, Netflix, Amazon, HBO and other streaming services have been gobbling up office and production space in recent years to help churn out movies and television series for their subscribers.
Apple will build two new mid-rise buildings, having previously announced it plans to double its Culver City headcount to 3,000, the company already has 500,000 square feet of offices. Apple told the outlet the project is in the planning stages and would feature environmentally sustainable building features and be powered by 100% renewable energy, like the rest of Apple's corporate operation.
The Apple TV+ team is based in the area, and the move seems to be a sign Apple wants to double down on its investment in the streaming platform given the location. Apple says the new headquarters will be 550,000 square feet and house teams working on TV+ as well as Apple music, engineering, and artificial intelligence.
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