From Near Collapse to Two-Site Giant: The Bry Studio Revival
The former Gaumont studios in Bry-sur-Marne, a mainstay of French cinema since the 1980s, are in the middle of a dramatic transformation. Nine months from now, six new soundstages ranging from 700 to 1,400 square metres will begin operating, effectively doubling the facility's production footprint. The expansion, financed by a commitment of more than €100 million, also includes vast storage space and will lift on-site employment to 2,000 people once fully built out in 2029.
The turnaround follows a rescue that was far from certain. In June 2023, Axa Investment Managers Alternatives acquired the complex and immediately presented a renovation-and-extension plan to replace the aging infrastructure. Since then, the booking calendar has already tightened: recent shoots have included the two-part epic La Bataille de Gaulle (2026), Jacques Audiard's critically acclaimed Emilia Perez (2024), and the blockbuster adaptation of Le Comte de Monte-Cristo (2024).
“Everything will be finished in 2029,” studio president Guillaume de Menthon told Les Echos, signalling that the new capacity will be brought online in phases starting next spring. The goal is to accelerate film and series production in France at a time when global demand for high-end studio space is straining existing facilities across Europe.
The Economics and Strategy Behind the €100 Million Wager
Axa’s Bet on a Structural Shortage of Stage Space
The private-markets arm of Axa is not pouring €100 million into vintage bricks for nostalgia. Europe suffers a chronic shortage of large, modern soundstages, and the surge in streaming-originated series has made studio space a bottleneck for productions with international ambitions. By acquiring a distressed asset at what was likely a favourable entry price and committing to a full rebuild, Axa IM Alternatives positions the Bry site as a premier destination that can host multiple tentpole projects simultaneously.
Why Bry Is Already Winning Marquee Titles
Productions such as Emilia Perez and Le Comte de Monte-Cristo demonstrate that the studios are already trusted for high-budget, high-profile work—even with their older infrastructure. The expansion will remove the physical constraints and allow producers to book stages without splitting their teams across distant locations. With proximity to central Paris and a deep local crew base, Bry offers logistical advantages that newer greenfield sites in other European countries take years to replicate.
Ripple Effects on France’s Production Landscape
A doubling of Bry’s capacity will intensify competition among French and European studios. Other facilities, such as the Plaine Saint-Denis hub north of Paris, face a more crowded market for large-scale bookings. While France’s tax rebates for international productions remain a powerful draw, the added supply could put downward pressure on rental rates if demand growth does not match the new inventory—though current booking trends suggest demand will comfortably absorb the extra stages.
What the Expansion Means for Producers, Rivals and the Region
- Producers planning feature or series shoots: With the first new soundstages opening by spring 2027 and full completion in 2029, showrunners should engage the studio now to lock preferred slots for 2027–2028 schedules. Early access may yield preferential terms before full capacity is absorbed.
- Competing studio operators in the Île-de-France region: As Bry doubles its footprint, other venues need to differentiate through niche services, technology (virtual production stages, immersive audio) or flexible pricing packages to retain midsize productions that might otherwise gravitate toward the expanded facility.
- Local authorities and infrastructure providers: The jump to 2,000 on-site workers—carpenters, electricians, grips, costume departments—will create year-round demand for public transport, temporary housing, catering and equipment suppliers. Val-de-Marne can use the construction window to align workforce training and transport upgrades with the studio’s growth timeline.
- International streaming platforms and studios: France’s production incentive schemes, combined with a new purpose-built stage complex 20 km from Paris, make Bry an increasingly viable hub for global series projects that might otherwise land in the UK, Hungary or Spain. Decision-makers should include Bry in site shortlists for 2027 shoots and beyond.
Risk & Opportunity Assessment
| Commercial Risk | Medium | The €100 million outlay is exposed to the pace of production demand; if the boom in streaming commissions levels off or tax incentives are cut, utilisation rates could fall below breakeven. |
| Competitive Risk | High | Other European studios are also expanding (Pinewood, Studio Babelsberg, new Hungary facilities), and Bry must compete on services and price once its capacity advantage is matched elsewhere. |
| Regulatory Risk | Low | No specific regulatory threats are cited; France’s film support system and the CNC’s backing remain stable, though any future reform of the TRIP (tax rebate for international productions) would alter the business case. |
| Reputation Risk | Low | The studio’s recent track record with acclaimed titles such as Emilia Perez and Le Comte de Monte-Cristo underscores its operational reliability; no reputational issues are visible. |
| Technology Disruption | Low | Virtual production and LED volumes are growing, but large physical soundstages remain essential for most film and series work; Bry is not directly threatened by current tech shifts. |
| Commercial Opportunity | Transformational | Doubling capacity positions Bry to capture a disproportionate share of France-bound productions, turning the studio into a European hub that can host multiple blockbuster shoots concurrently. |
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