Warner Bros. Pledges $8.5 Billion for Las Vegas Studio Project

Warner Bros. Discovery (WBD) has announced a significant partnership with the University of Nevada, Las Vegas (UNLV) and Birtcher Development to fully occupy and operate Nevada Studios, the centerpiece of the Las Vegas Media Campus. This 800,000-square-foot mixed-use project is poised to be a major hub for film and content production in Nevada, with WBD committing to a long-term production spend of at least $8.5 billion.

Legislative Proposal and Financial Commitment

The realization of this ambitious project hinges on the passage of a legislative proposal first introduced by State Senator Roberta Lange in 2023. Set to be reintroduced in February 2025, the bill would expand the state's film tax credit. If passed, WBD plans to invest approximately $500 million annually over 17 years. The construction of the studio complex is expected to begin within 18 months of the bill’s approval and could generate up to $95 million annually in film tax credits.

Development and Facilities

The UNLV Research Foundation has approved the agreement to develop the Las Vegas Media Campus, which will include film studios and facilities designed for emerging content creation technologies. Located within the Harry Reid Research & Technology Park, the 34-acre media complex will also offer 1.5 million square feet of office and retail space. WBD’s involvement will include the creation of the Nevada Media and Technology Lab, a facility for production and immersive learning, supporting UNLV’s film and academic programs. The development will also provide spaces for vocational training, internships, and workforce development.

Growing Demand for Production Studios

The partnership is part of a broader trend in commercial real estate, where the demand for film and sound production studios continues to grow. Despite some industry challenges, the need for new content remains robust, driving a pipeline of studio developments. Recent examples include East End Studios securing $130 million in financing for a production studio campus in Los Angeles, and Togus Urban Renewal LLC’s $1 billion project in Bayonne, New Jersey, which will be the first campus-style film and studio facility in the Northeast, set for completion in 2026.