Los Angeles is finally gaining some success in finding a way to apply its creative talents in media and entertainment to the web. As a result, a new emerging industry is forming that combines artist’s talents with digital tech expertise. These companies produce original video content for the web. Below are some stories on couple of these firms.
Maker Studios, a company that produces media content for the web, just signed a 50,000 square foot lease at 3562 Eastham Drive in Culver City. Maker Studios joins other recent media-for-the web content companies in the Hayden Tract. Several companies include Four Wall Studios, Mahalo, and Popsugar. The cluster of these firms gives rise to a small community that could encourage other firms in this emerging industry to also seek office space in Culver City.
The success of these firms would also help create a new source of demand for Culver City creative space. These media-for-the web firms join other creative office companies in Culver City that include digital advertising, entertainment, old media, and software firms. A recent article from the Los Angeles Times discusses the success of Culver City and its challenges. The addition of 1100 parking spaces at the Washington and La Cienega Expo stations helped convince these firms to locate in Culver City. As some tech companies scale to 10 employees per 1000 square feet, the Expo line may provide one of the few ways for firms to help provide an alternative to parking to accommodate such density.
Culver City has transformed into one of main areas on the Westside that many tech and media tenants have been drawn to for creative office space. In the second quarter of 2012, Culver City had a net absorption of 16,000 square feet, with the asking rates for Class A and Class B space remaining constant from the first and second quarters of 2012.