British-based broadcaster Sky is to open its own studios to step up Europe-wide development and production.
Sky Studios has the backing of the company's new owners, Comcast.
Under the plan, Sky said its investment in originals will more than double from the current level over the next five years.
It comes after recent success of the TV show 'Chernobyl', which dramatised the 1986 nuclear disaster.
Sky said the mini-series was the most successful Sky original production ever.
Sky Studios will produce and develop original content across all genres, with a focus on drama and comedy.
Production will begin next month on its first international project: a six-part drama called 'The Third Day', starring Jude Law.
In a statement, the broadcaster said: "Sky's increasing success with original productions, coupled with the ability to partner with NBC and Universal, puts Sky in a strong position to extend its leadership in this increasingly global, profitable, and strategically important area.
"Sky Studios will create new productions for Sky channels, NBC Broadcast and cable, and Universal Pictures as well as for other distribution outlets."
US cable giant Comcast outbid 21st Century Fox in an auction to buy the company last September.
The successful offer was worth stg£17.28 (€19.24) per Sky share - valuing the company at more than stg£30bn (€33.4 bn).
Jeremy Darroch is group chief executive of Sky.
He said: "Our ambition is to make Sky Studios famous for quality content and a place where Europe's top creatives will want to do their best work.
"Being part of Comcast enables us to increase our investment and to maximise the advantage and leverage of the Sky Group and our partners, NBCUniversal.
"This is a clear signal of Comcast's belief in our commitment to producing the best original content in Europe."
Sky Studios will be led by Gary Davey, who is currently Sky UK's managing director of content.
The firm has 23.7 million customers across seven countries, including Ireland, and has offices in Dublin.