Major tech companies move inland toward media-rich submarkets in Los Angeles
In the past, tech companies were heavily concentrated throughout the Silicon Beach area of the city
April 16, 2019
- Traditionally, tech companies in Los Angeles have remained concentrated throughout the Silicon Beach area of the city. Yet over the last few years, many of these companies have added content-generating aspects to their business. This switch in business operations has promoted many to move inland toward LA’s more traditional media markets.
- This migration is indicative of tech’s changing identity. Major companies like Google and Apple are now developing original content via their YouTubeTV and AppleTV+ services, similar to tech and media hybrids like Netflix, Hulu, and now Disney. As a result, these companies now require the use of local talent and studio space, most of which are located in pockets where traditional media operator's once called home, like Hollywood and Culver City.
- Tech’s continued evolution within LA’s media sector is helping reshape and unify both industries. So, whether it’s Disney+ or AppleTV+, the line between tech and media sectors is growing increasingly permeable as “Hollywood” continues its transition into a technologically-based, content-driven industry.
Source: JLL Research / Esri