Netflix announces US$1 billion investment in Mexico

MEXICO - Ted Sarandos, CEO of Netflix, announced that the streaming giant will invest US$1 billion to produce series and movies in Mexico over the next four years.

Sarandos said that Netflix intends to shoot an average of twenty productions per year in Mexico.

“Our journey in Mexico, so far, has taken us from north to south, from sunsets on the Baja California peninsula, to sunrises on the Caribbean coast. We have produced in more than 50 locations in 25 states. And with this renewed commitment, we look forward to deepening our partnership even further,” said Ted Sarandos, CEO of the company.

Sarandos detailed that since 2020, when Netflix established its Latin American headquarters in Mexico City, its workforce 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, Mexican President 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.

“Evidently, there is the incentive for any request whatsoever,” she indicated in reference to possible government support for the sector.

The CEO of the streaming platform also revealed that its recent production of Pedro Paramo generated a significant economic impact, contributing more than US18.3 million to Mexico's Gross Domestic Product (GDP) and generating thousands of jobs in different sectors, from costume manufacturing to hospitality and transportation.