Netflix co-CEO Ted Sarandos met with President Claudia Sheinbaum to announce the streaming giant’s $1 billion investment in Mexico.
Netflix will also invest $2 million in Churubusco Studios in Mexico City to enhance its facilities.
During a press conference with President Sheinbaum, Sarandos said, “This investment, and the productions derived therefrom, will benefit Mexican production companies and will contribute to the growth of the local audiovisual industry and the creation of opportunities nationwide.”
“Our journey in Mexico 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. With this renewed commitment, we hope to further deepen our partnership.”
According to Sarandos, Mexico “holds a very special place in Netflix’s history.” In 2019, Netflix opened its first offices in Mexico City, followed by the establishment of its Latin American headquarters in the country. “Over the past six years, Netflix’s local employee base has increased more than tenfold, from 30 employees to nearly 400,” Sarandos stated.
“A film called Roma, which was made here, won the Oscar for best [international] feature — it was a first for Netflix and for Mexico.” Sarandos noted.
President Sheinbaum stated that Netflix’s decision to invest in Mexico reflects cost-effectiveness as well as the cultural and creative wealth of the country.
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