Ted Sarandos, co-CEO of Netflix, announced during a press conference that the platform will invest US$ 1 billion in the production of films and series in Mexico over the next four years.
Netflix is more committed than ever to original content and is set to invest an incredible US$ 1 billion dollars to produce films and series in Mexico over the next four years, as announced by co-CEO Ted Sarandos during a press conference with the country’s president, Claudia Sheinbaum.
Sarandos began by greeting everyone in attendance and complimenting Mexico, saying “I’m amazed by the blend of the old and the new, between history and modern culture. It’s inspiring. And it helps explain why there’s always been so much creativity in Mexico, from art and food, to literature, architecture, and of course, storytelling”.
“This country holds a special place in Netflix’s own history. It was here, 10 years ago, where we produced our first series outside of the United States called Club de Cuervos. We created it in Mexico for Mexico, and it paved the way for our programming strategy, which is all about local production”.
The executive highlighted other productions made by Netflix in Mexico, such as Roma, which won the Oscar for Best Foreign Language Film; Alejandro G. Iñárritu’s Bardo, which was the Mexican submission for the Oscars in 2022; and Guillermo del Toro’s Pinocchio, which won for Best Animated Feature.
“Over the years, we’ve worked with Mexican creators on hundreds of other series and films that have captured the hearts of Mexican audiences, from The House of Flowers to Where the Track Ends, to the recently announced Love Sick and The Dead Girls. And we can’t wait for you to see a new documentary on the life and art of Juan Gabriel, which is coming soon”, he revealed.
He also noted the company’s local hub for Latin America, which was established in Mexico City.
“Being local is very important to us. It’s why all of our series and films in Mexico are made in partnership with local production companies and local partners. Every single one. That means we’re investing in the creative community, and helping talented people find their calling in our industry. But we’re also helping people in other industries make a living, too — from catering and hotels, to transportation and manufacturing”.
As an example, the executive mentioned the recent film, Pedro Páramo, which contributed over 375 million Mexican pesos to the country’s gross domestic product and employed thousands of local crew members, hundreds of technicians and artists, and dozens of traditional musicians.
Looking to the future, Sarandos announced that Netflix plans to continue investing heavily in original production in the country: “President Sheinbaum, at Netflix we share your vision of a vibrant, prosperous Mexico full of growth and opportunity. And we want to play our part in making it a reality. That’s why today, I’m happy to announce that Netflix will be investing US$1 billion US dollars 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.”
“Our journey in Mexico so far has taken us from North to South — from Baja California’s sunset shores to the Caribbean’s sunrise sands. We have produced in over 50 locations across 25 states. And with this renewed commitment, we look forward to deepening our partnership even more.”
“Together with our government and industry partners, we’ll also keep funding programs that help diverse and creative talent behind the camera break into entertainment. We’ve been doing this for years now, and it’s been very successful. ”
“Finally, I’m happy to announce that we’ll also be collaborating with Churubusco Studios, where some of the greatest works of Mexican cinema have been made, to invest in the elevation of its facilities.”
