This article analyzes the reemergence of the film industry in İstanbul since the mid-1990s. In exploring the industrial and spatial dynamics of this process of reemergence, we employ the perspective of path dependence, conducted with the aid of historical analysis and in-depth interviews with the key actors of the sector. By zooming in on the details of this industry’s reemergence, we uncover the specifics of the process of revival in terms of both the industry itself and of location. Analysis of the industry reveals the impact on the revival of İstanbul’s film sector of system-wide developments, the key roles played by the advertising and television sectors, and entrepreneurial initiatives. Analysis of location, on the other hand, reveals that, following the collapse of Yeşilçam—the historical center of İstanbul’s film industry—two new clusters have emerged, one located in the vicinity of the old center (Beyoğlu) and the other in a rising commercial district (Levent).