Netflix CEO Ted Sarandos announced Thursday morning that the streaming giant will invest US$1 billion to produce series and films in Mexico.
Netflix CEO Ted Sarandos announced Thursday morning that the streaming giant will invest US$1 billion to produce series and films in Mexico over the next four years.
Sarandos said that Netflix plans to shoot an average of twenty productions a year in Mexico.
“Our journey in Mexico so far has taken us from north to south, from sunsets on the Baja Peninsula to sunrises on the Caribbean coast. We have produced in more than 50 locations across 25 states. And with this renewed commitment, we look forward to deepening our partnership even further,” said Ted Sarandos, CEO of the company, during the morning press conference on Thursday, February 20.
Shortly before, Mexican President Claudia Sheinbaum explained that her "Mañanera del pueblo" conference will be divided into two parts, one for Netflix to announce important news and the other to talk about the United States' declaration of cartels as terrorist organizations.
"Mexico is so great that they decided to invest here," said Sheinbaum.
Sarandos explained that since 2020, when Netflix established its Latin American headquarters in Mexico City, its workforce has increased tenfold.
Sarandos also announced a collaboration with Estudios Churubusco to improve its facilities, reaffirming the company's commitment to the Mexican film industry.
For her part, the President of Mexico, Claudia Sheinbaum, expressed that Netflix's presence in Mexico is not limited to tax incentives, but that the country has become an epicenter for the creation of original content for the platform.
"Obviously, there is an incentive for any request," he said, referring to possible government support for the sector.
The streaming platform's CEO also revealed that its recent production of Pedro Páramo generated a significant economic impact, contributing more than 375 million pesos (US$ 18.4 million) to Mexico's Gross Domestic Product (GDP) and generating thousands of jobs in different sectors, from clothing manufacturing to hospitality and transportation.
On the other hand, he highlighted the fundamental role of Mexico in the history of the streaming platform, recalling that a decade ago the platform produced its first series outside the United States in Mexican territory: Club de Cuervos.
Since then, he has worked with local talent on various productions that have achieved international acclaim, such as Alfonso Cuarón's Roma, Alejandro González Iñárritu's Bardo and Guillermo del Toro's Pinocchio.
