Warner Bros Discovery to Invest $8.5 Billion in Nevada Studio if Tax Credits Approved

Warner Bros Discovery has announced plans to invest at least $8.5 billion in a new film and television production studio in Las Vegas, contingent on receiving state tax incentives. The proposed facility, Warner Bros. Studios Nevada, will be developed in collaboration with the University of Nevada, Las Vegas (UNLV) and Birtcher Development. The studio will be situated on a 34-acre campus within UNLV’s Harry Reid Research & Technology Park and will offer comprehensive production services.

The investment hinges on the approval of tax incentives from the state, a move introduced by State Senator Roberta Lange during the 2023 legislative session. This financial backing is critical for Warner Bros Discovery as the company faces rising production costs amid a downturn in television viewership and advertising revenue. The media giant recently wrote down $9.1 billion in TV assets due to these industry challenges.