Netflix plans to spend $ 1 billion, creating content in Mexico over the next 4 years

Streaming jungle Netflix He plans to spend $ 1 billion on movie and television production in Mexico over the next four years. Executive Director Ted Sarandos announced the plan on Thursday during a press conference with Mexico President Claudia Shainbaum. Injection of capital can average 20 productions per year.

During the event on Thursday Netflix also announced an investment of $ 2 million In Churubusco’s studies in Mexico City to improve facilities. The goal is to strengthen National film industryS

“Our journey to Mexico took us from north to south. From the sunsets of the Baja California Peninsula to sunrise on the Caribbean, “Sarandos said. “We have produced more than 50 seats in 25 states. With this updated commitment, we expect to deepen our partnership even more. “

Mexico occupies a key place in Netflix history. Television Cuervos Club, which was manufactured in the country and the premiere in 2015 was the first series of the company filmed outside the United States.

Since then, Netflix has continued to make projects in Mexico, which are popular both in the country and abroad. Movies like Rum., Bardot, and Pinocchio, From Mexican directors Alfonso Quaron, Alejandro Gonzalez Inaritu and Guillermo del Toro, they are respectively distinctive for the strime. In 2020, the company established its Latin American central office in Mexico City, and in the last five years its workforce has increased tenfold.

“Together with the Government of Mexico and the industry, we will continue to fund programs that help to develop a variety of creative behind -the -scenes talents in the entertainment world,” Sarandos stressed.

Executive Director revealed that the recent Feature Parama They brought over $ 375 million (about $ 18.5 million) for the gross domestic product of Mexico and generated thousands of jobs in sectors such as textiles, hospitality and transport.

Shainbaum, for its part, noted that Netflix’s decision to invest in the country not only reflects the tax incentives of Mexico and the competitive costs of production, but also the cultural and creative wealth of the country, wealth that allowed the platform to expand through the production of original content S

“These productions are from Mexican talent; They do not reach a place to create an idea that has been generated elsewhere in the world because it is cheap, “Sheinbaum said. “This is about Mexican talent, creativity and cultural wealth.” She suggested that her administration would support these projects with possible state support for the sector.

Business opportunities for Netflix in Mexico are obvious. The country has millions of stream clients and each supports several subscriptions at once, according to the marketing firm Bango. Netflix is ​​among the three most popular platforms among Mexicans. According to a HR Media survey, this is the second most used video application on request, with a market share of 21 percent.