Mexico City, Mexico — Streaming giant Netflix has announced a historic investment of a billion USD for the production of series and films in Mexico during the next four years. Ted Sarandos, Netflix CEO, said their decision responds to the great talent and potential of the Mexican audiovisual industry.
“President Sheinbaum, at Netflix we share your vision of a vibrant and prosperous Mexico and we want to contribute to making it a reality,” said Sarandos.
This investment will strengthen the national film industry, generating jobs and consolidating Mexico as a benchmark in the production of content for global audiences, Sheinbaum said.
“Mexico is so great that they decided to invest here,” she added Thursday during her morning conference. The billion dollar investment will consist of 20 productions per year over the next four years.
Netflix says it will contribute with programs for the development of Mexican talent and will also collaborate with Estudios Churubusco to improve its facilities.
Sheinbaum welcomed the investment which, she said, is proof that Mexico is a great country not only for its wealth, but also for its Mexican talent.
“It is a decision by Netflix. Mexico is so great that they decided to invest here. It is the creation in Mexico of series for Netflix that also changes the dynamic a bit,” she said.
She pointed out that the industry will not only allow Mexico to be seen, but will also contribute to economic development, tourism and job creation.
“It really is an industry that boosts the economy a lot. It is not just the fact that it is made known to the world through Netflix series, which is very important for Mexico to be seen in the world, but also the entire economic development and the number of jobs that are generated from production,” she added.
Sheinbaum said the best way to encourage more investments of this type is to streamline the procedures and permits required for the production of a series, a film and even for the installation of a plant. She said work is already underway with the Digital Transformation and Telecommunications Agency to facilitate procedures to develop productions.
“The best incentive is the speed of permits and that is why we are concentrating on that,” she said.
“President Sheinbaum, we look forward to working with you and your government teams not only to grow the economy and create opportunities, but also to continue to introduce the world to Mexico’s rich and beautiful cultural heritage,” said Ted Sarandos.
He recalled that Netflix has a long history with Mexico that began years ago with the creation of its first production made in Mexico with the series “Club de Cuervos”.
Since then, they have established transcendental moments in history such as the Oscar Award for Best Foreign Film with Roma by Alfonso Cuarón and Best Animated Film with Pinocchio by Guillermo del Toro.
Netflix has worked in 50 locations across Mexico in 25 years in addition to collaborating with Mexican creators who made more than 5,000 pieces of costumes for the production of “Pedro Páramo”.
At the Thursday press conference were Netflix’s Vice President of Latin American Content, Francisco Ramos, Netflix’s Vice President of Latin American Communications, Florencia Bianco and the Director General of Communications of the Ministry of Economy, Daniel Millán.
