You may have noticed the giant red and white arrow pointed skyward on the corner of Vine and Homewood these last couple of weeks, and thought, isn’t that the BuzzFeed arrow? With the top of the sign now installed, it’s confirmed. BuzzFeed, the internet media phenomenon best known for its short, sharable list-based stories that people share on Facebook and other media, is opening its new $50 million Motion Picture division in the heart of Hollywood. In essence, a new Hollywood studio for the new age.
The 22,400 square foot property, one block south of Arclight Cinema, was built as a supermarket and operated as a Big Lots discount store for many years. It was slated for demo and redevelopment as the site of the Academy of Motion Pictures Museum before the Academy decided to move into the May Company building on the LACMA campus last year (which is soon to get off the ground.)
The property at 1341 Vine St has a new coat of paint and a spruced-up parking lot, and remains currently as a vast open floorspace – that will probably soon buzzing with the desks, computers and people of the Motion Picture division. BuzzFeed Motion Pictures will encompass “all moving images — ranging from animated GIFs to short-form video, and from serialized content to full-length movies” according to a report in Variety.
The 10,000 square foot plaza next door that the Academy of Motion Pictures developed for its Oscars Outdoors series, finished a second season in the summer of 2013 but did not screen outdoor movies this last summer and the property was for sale. No word yet if BuzzFeed perhaps has the corner on that corner too. The permanent 40 x 20 foot outdoor screen would be a perfect place for BuzzFeed to feed passersby some of their new motion picture product, be it a 60-second digital ad or a full-length motion picture. Stay tuned.
Editors’ Update: We just heard back from BuzzFeed regarding the former Oscars Outdoors venue adjacent to the building:
BuzzFeed Motion Pictures currently occupies the entire 4 acre campus, which does include the screening area and the former Big Lots space. We look forward to hosting screenings and outdoor events in the very near future!
Hollywood Reporter: BuzzFeed Raises $50 Million, Creates Motion Picture Division