Netflix – the global online video streaming platform – recently signed a workspace deal at WeWork (the operator of the flexible space) in Mumbai. This Flexi workspace deal has been signed for an entire floor at WeWork’s Nesco CoWorking Centre in Goregaon, Mumbai.
The transaction was signed for 8,860 sq. ft. and the space can accommodate 320 seats. This space will primarily be used to execute the company’s visual effects work – something that has become very popular in the country now. Anibrain is the other company that will be working with Netflix on this.
Anibrain has worked on international projects like The Secret Garden, The Aeronauts, and The Witcher. It also has offices in Pune and the Andheri suburb in Mumbai, with 700+ employees catering to global clients.
While the financial terms and conditions have not been disclosed yet, the news is around that the deal tenure is for two plus one year and has a lock-in period for one year and a half. For the specific job type by Netflix, the employees operating out of the Nesco complex will exclusively be aligned.
The WeWork Nesco IT Park in Mumbai spread across 228,000 sq. ft. has a total of 8 floors with the capacity to seat 3,400+ people.
With this deal being signed, it has become a third big deal of the year so far for WeWork. Earlier in the year, it signed a large deal with Commonwealth Bank of Australia and China’s ByteDance, across Bangalore and Mumbai respectively.
In the recent past, India has emerged as a major content hub for Netflix and it has thus announced around 50 original series and films in the country.
Early last year, Netflix took around 1,37,000 sq. ft. space in Godrej Bandra-Kurla Complex in order to expand its India presence.