Pinewood Atlanta is fleshing out the “production ecosystem” at its facility. President Frank Patterson has raised $16.5M for investment in two companies which will have a permanent base at the Georgia facility.
Venture firm Green Honey, founded by Patterson and fellow Pinewood Atlanta exec Craig Heyl, is investing in LA-based kids content specialist Sutikki, which created Universal Kids’ Moon & Me, which shot at Pinewood, and New York-based Believe Entertainment Group, which was Oscar-nominated in 2018 for Kobe Bryant’s Dear Basketball. The two firms will join the 49 other entertainment companies on the Pinewood lot.
Green Honey is also acquiring an un-specified but “significant” stake in the studio facility, Patterson said.
Patterson told us today that the investment comes from venture capital firms and high-net worth individuals, largely from the Georgia area. Green Honey is currently fundraising for its next round of investments.
The Pinewood Group announced its exit from the Atlanta facility last year. The facility will be rebranded in 2020. The operation was set up in 2013 between Pinewood and River’s Rock, an independently managed trust of the Cathy family.
Set across 700 acres, the studio’s 18 sound stages range from 15,000 to 40,000 square feet and it has a backlot spanning 400 acres. Movies to have shot there, taking advantage of Georgia’s tax incentive, include Avengers: Endgame, Spider Man: Homecoming and Captain America: Civil War.
Patterson told us today the studio is booked out for 2020 and is filling out its 2021 roster. Marvel, Warner Bros and the streamers have all been active at the site of late, we understand.
He added about the investment, “These deals, along with our future investment in content and technology companies, represent the next step in the evolution of Georgia’s production ecosystem. We are now able to imagine, fund, produce and distribute entertainment content, while deepening the bench of the dozens of other entertainment-related companies already located at our studios.”
Patterson also told us he doesn’t expect production footprint at the site to be adversely impacted by Georgia’s controversial anti-abortion laws.
Commented Lee Thomas, Deputy Commissioner of the Georgia Film, Music & Digital Entertainment Office, a division of the Georgia Department of Economic Development, “The entire state of Georgia will benefit from continued investment in our already surging film and television production business. We are excited about these new developments at Pinewood, showcasing the state as a worldwide leader in the creation of entertainment content overall.”