Netflix Plans $1 Billion Investment in Mexican Films & Series

During a press conference with Mexican President Claudia Sheinbaum, Netflix co-CEO Ted Sarandos revealed a planned investment of $1 billion to produce series and films in Mexico over the next four years.

“This country holds a special place in Netflix’s own history,” Sarandos said. “It was here, ten 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.”

He went on to highlight the success of Roma, which was made in Mexico and won the Oscar for best foreign language feature. “It was a first for Netflix and for Mexico,” Sarandos said.

“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.

“All of this helps explain why, in 2020, when President Sheinbaum was the mayor of Mexico City, we decided to establish our Latin American headquarters here. Over the last six years, our local employee base has increased more than ten times.

“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.”

He noted that the recent film Pedro Páramo 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.

“And the impact went far beyond the production itself: almost 70 years after the book’s initial release, sales tripled,” Sarandos continued. “Investments in the audiovisual industry really do have a multiplier effect. A recent study found that the audiovisual industry here in Mexico contributes $3 billion dollars to the Mexican economy every year—and every dollar spent generates $1.6 of added value.”

He said that Netflix shares the president’s 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 $1 billion 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.”

Sarandos also revealed a partnership with Churubusco Studios to invest in the elevation of its facilities.