Netflix Chief Executive Officer, Ted Sarandos has announced a $1 billion investment in Mexico over the next four years to produce films and TV series.
This move strengthens Netflix’s presence in one of the world’s most dynamic entertainment markets and expands its Spanish-language content library.
Speaking At President Claudia Sheinbaum’s morning press conference in Mexico City, Sarandos expressed excitement about forming more partnerships with producers in Mexico.
“We look forward to entering more partnerships with producers in Mexico.
“This will generate employment not only in production but also in hospitality, fashion, and tourism,” he said.
Sheinbaum stated that investments in the film industry would create numerous jobs beyond production, including roles in hospitality for actors and crew, fashion design, and even boost tourism.
“It’s an industry that gives a lot of mileage to the economy,” Sheinbaum said. “It’s not only important for Mexico to be seen in the world, but also because of the economic development and jobs generated by a production.”
Netflix has invested in notable Mexican productions like Club de Cuervos, a comedy-drama about local soccer politics, Roma (2018), the first Mexican film to win the Oscar for Best Non-English Language Film, and last year’s Pedro Páramo.
Sarandos confirmed that Netflix has already partnered with Mexico City’s Estudios Churubusco, one of Latin America’s oldest and most renowned film studios.
He also mentioned that Netflix plans to fund programs to help behind-the-camera talent enter the industry, noting that Mexico’s diverse geography makes it an ideal filming location.
