Today
With the growing diversification of studios into such fields as video games, television, theme parks, home video and publishing, they have become multi-national corporations. As the studios increased in size they began to rely on production companies, like J.J. Abrams' Bad Robot Productions, to handle many of the creative and physical production details of their feature films. Instead the studios transformed into financing and distribution entities for the films made by their affiliated production companies.
Due to rising real-estate and upkeep costs, as well as the decreasing cost of CG and visual effects, many studios sold large chunks of their once massive studio spaces or backlots to private real-estate developers. Century City in Los Angeles was once part of the 20th Century Fox backlot, which was among the largest and most famous of the studio lots. In most cases portions of the backlots were retained and are available for rental by various film and television productions. Some studios offer tours of their backlots, while Universal Pictures allows visitors to its adjacent Universal Studios Hollywood theme park to take a tram tour of the backlot where films such as Psycho and Back to the Future were once shot.
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