Netflix To Invest US$1b In Mexico Over Next 4 Years

ANKARA, Feb 21 (Bernama-Anadolu) -- Netflix is set to invest US$1 billion in Mexican film and television production over the next four years, co-CEO Ted Sarandos revealed during a Thursday press conference alongside Mexico’s President Claudia Sheinbaum, Anadolu Ajansi reported.

"I’m happy to announce that Netflix will be investing US$1 billion to produce series and films in Mexico over the next four years - growing the audiovisual industry and creating jobs and opportunities all across the country," Sarandos said.

He highlighted the streaming company’s decade-long relationship with Mexico, which began with its first international series, Club de Cuervos, and emphasised the economic impact of Netflix productions in the country, including the recent film Pedro Paramo, which contributed over 375 million pesos (about $18.5 million) to Mexico’s GDP.

Citing a recent study, Sarandos noted that Mexico’s audiovisual industry is a key economic driver, contributing US$3 billion annually to the nation’s economy, with every dollar spent generating US$1.6 in added value.

He stressed that Netflix’s productions in Mexico span over 50 locations across 25 states, adding, “With this renewed commitment, we look forward to deepening our partnership even more.”

Sarandos also announced that Netflix is collaborating with Churubusco Studios, one of Mexico’s most iconic film production facilities, to enhance its infrastructure and continue funding programs that support diverse talent in the entertainment industry.

-- BERNAMA-ANADOLU