Netflix is to invest US$1bn in the production of films and series in Mexico over the next four years.
The investment pledge was announced by Netflix co-CEO Ted Sarandos in a press conference with Mexican President Claudia Sheinbaum.
The money will be invested between 2025-28. It will include a $2m investment in Mexico’s Churubusco Studios, where many Mexican films have been made, to upgrade its facilities.
Netflix also said it will continue to fund programmes that develop diverse and creative talents behind the camera. In August last year, it announced a $1m fund in Mexico for this purpose.
Netflix has a long history in Mexico, first becoming available in 2011. In 2015 it produced Club de Cuervos, its first series outside the US. Mexico has been the Latin American headquarters for Netflix since 2020; it has nearly 400 employees in the country.
The streamer said it has produced in more than 50 cities in 25 states across Mexico. Netflix’s Mexico-made films include Oscar winners Roma and Guillermo del Toro’s Pinocchio. More recently, this includes an adaption of Juan Rulfo’s revered Mexican novel Pedro Páramo, which was released last year.
“Being local is very important to us,” Sarandos said. “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.
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