Netflix says it plans to spend $1 billion over 4 years producing movies and sequence in Mexico, in a lift to the federal government’s efforts to draw funding within the face of U.S. tariff threats.
The streaming platform’s co-chief govt Ted Sarandos made the announcement at a news convention Thursday alongside Mexican President Claudia Sheinbaum, who hailed the plan as a win for Latin America’s second-largest financial system.
Sarandos stated Mexico — which is residence to Netflix’s Latin American headquarters — was a “very important” and rising a part of the corporate’s regional and world operations.
“President Sheinbaum, we look forward to working with you and your many teams within the government not only to grow the economy and to create opportunity but to bring more of this beautiful Mexican rich culture and heritage to the world,” he stated.
Sarandos highlighted the success of earlier productions in Mexico comparable to Alfonso Cuaron’s 2018 Oscar-winning “Roma.”
“Over the years, we’ve worked with hundreds of Mexican creators on hundreds of stories and films that have captured the hearts of Mexican audiences,” he stated.
“Being local is very important to us. It’s why all of our series and all of our films that we make in Mexico, we make in partnership with local production companies. Every single one,” he added.
“That means that we’re investing in the creative community, helping talented people find their calling in our industry, but we’re also helping people in other industries too. This industry has been very positive for catering, for hotels, for transportation, and for manufacturing as well.”
He stated the latest manufacturing of the movie “Pedro Paramo” had contributed $18 million for the Mexican financial system and given work to 1000’s of individuals.
The announcement comes days after Sheinbaum welcomed deliberate investments by Spain’s greatest financial institution, Santander, totaling greater than $2 billion over three years.
Last month, Sheinbaum introduced a plan aimed toward turning Mexico into the world’s Tenth-largest financial system with an bold objective of luring $277 billion of funding.
Her authorities is attempting to keep away from the sweeping 25-percent tariffs threatened by US President Donald Trump by rising cooperation within the struggle in opposition to unlawful flows of medicine and migrants.
Sarandos stated the Netflix funding would “help grow the audiovisual industry, creating jobs and opportunity across the entire country.”
“President Sheinbaum, at Netflix we share your vision for a vibrant, prosperous Mexico filled with growth and opportunity, and we want to play a part in that history as well,” he stated.
Sheinbaum welcomed the funding, saying: “Mexico is so great that they decided to invest here.”
She underscored her efforts in her earlier job as Mexico City mayor to make it simpler for manufacturing firms like Netflix to work within the capital.
© 2025 AFP