Netflix Pledges $1BN For Mexican Films & Series As Ted Sarandos Tells President Sheinbaum “We Share Your Vision Of A Vibrant, Prosperous Mexico”

deadline.com:

Netflix has pledged to spend a whopping $1B on Mexican production over the next four years. The streamer’s Co-CEO, Ted Sarandos spoke at President Sheinbaum’s morning press conference, Thursday, and unveiled the bumper commitment to Mexican production. “President Sheinbaum, at Netflix we share your vision of a vibrant, prosperous Mexico full of growth and opportunity.

And we want to play our part in making it a reality,” Sarandos said. “That’s why today, I’m happy to announce that Netflix will be investing $1 billion US dollars 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.” Netflix has been investing heavily in original fare out of Latin America and is keen to highlight the benefit to local film and TV industries and wider economies.

It touted the financial boost making 100 Years of Solitude brought Colombia, as first reported by Deadline last year. Today, Netflix said making the film Pedro Páramo in Mexico contributed over MXN375M ($18.4M) to the country’s economy.

The wider $1B announced, however, is of a different magnitude. Speaking at the President’s morning presser, Sarandos said Mexico “holds a special place in Netflix’s own history”.