Prague Studios has begun the construction of two film studios in Prague

Prague - The company Prague Studios today commenced construction of two new film studios in Prague-Letňany. In 2018, two new studios with complete facilities will be available alongside the current three. The total investment, including land purchase, amounts to 140 million crowns, and it will also involve the modernization of the existing studios.

"Thanks to film incentives, the Czech Republic has once again returned to the map of the film world. The demand for film studios is growing," said Tomáš Krejčí, managing director and owner of Prague Studios. The company's director, Jindřich Guttner, added that they are already registering requests for long-term rental of the new studios for 2018.

The complex of Prague Studios in Prague 9 rose on the site of the former Letov aircraft factory. Two large hangars were converted into film studios in 2001. The total costs of purchasing the land and buildings, including reconstruction, reached 160 million crowns. Prague Studios is backed by the film production company Milk and Honey Pictures.

A significant impetus for the further development of Prague Studios came in 2012 with the purchase of adjacent plots for the construction of two new studios. Currently, the entire area covers 30,000 square meters and includes three studios, adjacent offices, makeup rooms, costume rooms, catering, and workshops. In 2018, an additional two studios will be available that can be connected into one space.

Prague Studios has hosted films such as Children of Dune (2002), Van Helsing (2003), Wanted (2007), The Adventurers (2016), and many other titles. Dozens of commercials are produced here every year.

The reason for the creation of new studios is the interest of foreign filmmakers related to the film incentives provided by the Czech Republic since 2010. Their main purpose is to attract foreign productions and investors to shoot films on Czech soil, utilizing Czech service providers. Two years ago, the incentives were approximately the same as last year, around 800 million crowns, and they brought investment of over 4.5 billion crowns into the Czech Republic.

The interest of foreign productions exceeds the capacity of the studios. For example, Barrandov Studio achieved 100% utilization of its studios last September, October, and November. The average occupancy of its studios for the entire last year was 83 percent. Over 180 film, television, and commercial projects took advantage of the company’s services. The company is owned by Moravia Steel, belonging to entrepreneur Tomáš Chrenek. Over its 80 years of existence, the studios have hosted over 2,500 Czech and foreign films. They are also attempting to meet demand by expanding their facilities.

For the previous year, Barrandov Studio reported revenues of 444 million crowns, which is a decrease of 22 percent year-on-year. The company incurred a loss of 15 million crowns, but before tax and excluding the extraordinary impact of accounting for asset returns, it reported a profit of 43.6 million crowns, according to the annual report.

Tomáš Krejčí, managing director and owner of Prague Studios s.r.o., told ČTK that the company’s annual turnover is approximately 23 million crowns. The company is profitable, but he did not disclose the extent of the profit.

The second historically most significant film studios in the Czech Republic are the Zlín studios, opened on July 1, 1936, originally as a location for shooting advertising films for the Baťa company. Over time, the hallmark of the Zlín studio has become the production of youth content, such as films by Hermína Týrlová or Karel Zeman. The Zlín studios also host various exhibitions and this year became a new location for the film festival for children and youth.