Netflix has announced a major investment of $1 billion to develop original movies and TV shows in Mexico over the next four years, reinforcing its commitment to fostering local content and talent. The announcement was made by Netflix Co-CEO Ted Sarandos during a press conference alongside Mexican President Claudia Sheinbaum and Secretary of Economy Marcelo Ebrard.
Sarandos highlighted Netflix’s longstanding relationship with Mexico, recalling that the company’s first original international production, the dramedy Club de Cuervos, was created in Mexico a decade ago. “We created it in Mexico for Mexico — and it paved the way for our programming strategy, which is all about local production,” Sarandos said.
Since then, Netflix has collaborated with some of Mexico’s most renowned filmmakers and talent, producing critically acclaimed works such as Roma by Alfonso Cuarón, which won three Oscars; Bardo by Alejandro G. Iñárritu, Mexico’s 2022 Oscar submission; and Pinocchio by Guillermo del Toro, which won Best Animated Feature, marking a significant milestone for both Netflix and Mexican cinema.
Netflix’s presence in Mexico has grown significantly since the opening of its Latin American headquarters in Mexico City in 2019, expanding its local workforce tenfold to about 400 employees. Sarandos emphasized the importance of local partnerships, stating, “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.”
A key component of the $1 billion investment includes $2 million dedicated to enhancing the Churubusco Studios complex in Mexico City, one of the country’s largest and most historic film studios, originally opened in the 1940s. This will bolster the infrastructure for future productions and create more opportunities for local talent.
Netflix also highlighted the economic impact of its productions. The recent film Pedro Páramo alone contributed over 375 million pesos ($18.4 million) to Mexico’s GDP, employing thousands of local crew members, hundreds of technicians and artists, and dozens of traditional musicians. Sarandos noted that the audiovisual industry in Mexico contributes $3 billion annually to the country’s economy, with every dollar spent generating $1.60 of added value.
In his speech, Sarandos emphasized Netflix’s commitment to supporting diverse and creative talent in Mexico. “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,” he said. “We’ve been doing this for years now, and it’s been very successful.”
President Sheinbaum praised Netflix’s investment, aligning it with her vision for a prosperous and creative Mexico. Sarandos concluded the event by presenting President Sheinbaum with a traditional Mexican shawl, or rebozo, worn by a character in Pedro Páramo, symbolizing the deep cultural connection between Netflix and Mexico.
This substantial investment reaffirms Netflix’s strategy of nurturing local talent and producing culturally significant content, while also boosting Mexico’s economy and solidifying its role as a key player in the global entertainment landscape.
