Streaming mastodon Netflix plans to spend $ 1 billion in film and television production in Mexico in the next four years. CEO Ted Sarandos announced the plan on Thursday at a press conference with the president of Mexico, Claudia Sheinbaum. Capital injection could finance 20 productions per year on average.
During Thursday’s event, Netflix also announced An investment of $ 2 million In Mexico CHURUBUSCO studios to improve installations. The goal is to strengthen the national film industry.
“Our trip to Mexico took us from north to south. Sun sunsets on the Baja peninsula in California in the Sun.’s Lerids on the Caribbean coast, “said Sarandos. “We have produced in more than 50 locations in 25 states. With this renewed commitment, we are impatient to further deepen our partnership. »»
Mexico occupies a key place in the history of Netflix. The TV show Cuervos club, which was produced in the country and created in 2015, was the first series of the company turned outside the United States.
Since then, Netflix has continued to carry out projects in Mexico which have been popular both at the national level and abroad. Films like Roma,, Bardo, And Pinocchio, By Mexican directors Alfonso Cuarón, Alejandro González Iñárritu and Guillermo del Toro, respectively, were stars for the streamer. In 2020, the company created its registered office in Latin America in Mexico City and in the past five years, its workforce has increased tenfold.
“With the government of Mexico and industry, we will continue to finance programs that help develop various and creative talents behind the scenes in the entertainment world,” said Sarandos.
The CEO revealed that the recent Feature film Pedro Paramo contributed more than 375 million pesos (around $ 18.5 million) to Mexico gross domestic product and has generated thousands of jobs in sectors such as textile manufacturing, hospitality and transport.
For its part, Sheinbaum noted that Netflix’s decision to invest in the country reflects not only the tax incentives of Mexico and competitive production costs, but also the country’s cultural and creative wealth, a wealth that allowed the Platform to develop thanks to the production of original content.
“These productions are by Mexican talents; They do not come to a place to produce an idea generated elsewhere in the world because it is cheap, “said Sheinbaum. “These are Mexican talents, creativity and cultural wealth.” She suggested that her administration supports these projects with possible government support in the sector.
The commercial opportunities for Netflix in Mexico are obvious. The country has millions of customers in streaming and each maintains several subscriptions at the same time, according to the marketing company Bango. Netflix is ​​among the three most popular platforms among Mexicans. According to a study by HR Media, this is the second most used demand video application, with a market share of 21%.
