Netflix Plans to Spend $1 Billion Making Content in Mexico Over the Next 4 Years

Streaming Netflix In the next four years, there are plans to spend $ 1 billion in film and TV production in Mexico. CEO Ted Sanandos announced the plan during a press conference with Mexico President Clodia Shainboum on Thursday. The injection of the capital can provide an average of 20 production funds per year.

Netflix also announced during the event on Thursday Invest in a $ 2 million To enhance the benefits at the Churubusco Studios in Mexico City. Strengthen the target National film industryThe

“Our journey to Mexico has taken us from north to south. Baja from sunset to sunrise on the California Peninsula, from sunrise to the Caribbean coast, “said Sarandos. “We have produced in more than 50 places in 25 states. With this new promise, we are hoping to deepen our partnership. “

Mexico occupies a key place in the history of Netflix. TV show Curevos Club, Which was produced in the country and premiered in the 21st, it was the company’s first series shot outside the United States.

Since then, Netflix has been building projects in Mexico that are popular both domesticly and abroad. Like the film Romance, Bardo, And Pinochio, Mexican directors Alfonso Kuran, Alejandro Gonzalez Irritu and Gillarmo del Toro are in favor of the streamer respectively. In 2021, the company established the Latin American headquarters in Mexico City and its workforce has increased by ten times in the last five years.

“With the Mexico government and the industry we will continue to fund programs that help to develop the screen talent behind various and creativity in the entertainment world,” Sarandos emphasized.

CEO has published that recent Feature film production Pedro paramo Mexico’s total domestic product contributed 375 million peso (about 18.5 million dollars) and created thousands of jobs in sectors such as textile production, hospitality and transport.

As part of that, Shainboum mentions that Netflix’s decision to invest in the country not only reflects the cost of taxation of Mexico and competitive production, but also reflects the country’s cultural and creative ness show, a NESS that allow the platform to expand through the original material.

“These productions are by Mexican talent; They do not come to a place to make an idea that is generated somewhere else in the world because it is cheap, “Sheinboum said. Will support with assistance.

Netflix business opportunities in Mexico are clear. There are millions of streaming subscribers in the country, and according to the marketing agency Bangor, each once maintains several subscriptions. Netflix is ​​one of the popular platforms among the Mexicans. According to a survey of HR Media, it is the second most used video-on-demand app, which has 21 percent of the market shares.