Netflix to Invest $1 Billion in Mexico to Boost Local Film Industry and Economy
Netflix announced on Thursday that it plans to invest $1 billion (around Ksh.130 billion) over the next four years to produce films and series in Mexico. This move is seen as a significant boost to the government’s efforts to draw in investment, especially with the looming threats of US tariffs.
During a news conference with Mexican President Claudia Sheinbaum, Netflix’s co-CEO Ted Sarandos shared the news, calling it a major win for Latin America’s second-largest economy. Sarandos emphasized that Mexico, which hosts Netflix’s Latin American headquarters, is a “very important” and rapidly growing part of the company’s operations both regionally and globally.
“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 said.
Sarandos pointed out the impressive achievements of earlier productions in Mexico, like Alfonso Cuaron’s “Roma,” which won an Oscar in 2018.
“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 said.
“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 said the recent production of the film “Pedro Paramo” had contributed $18 million for the Mexican economy and given work to thousands of people.
– ‘Vibrant, prosperous Mexico’ –
The announcement comes just days after Sheinbaum celebrated significant investments from Spain’s largest bank, Santander, which are set to exceed $2 billion over the next three years.
Last month, Sheinbaum unveiled a bold plan to elevate Mexico to the status of the world’s 10th-largest economy, with an ambitious target of attracting $277 billion in investments.
Her administration is working hard to sidestep the hefty 25-percent tariffs that US President Donald Trump has threatened by enhancing collaboration to combat the illegal trafficking of drugs and migrants.
Sarandos said the Netflix investment 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 said.
Sheinbaum welcomed the investment, saying: “Mexico is so great that they decided to invest here.”
She highlighted the work she did as the mayor of Mexico City to simplify the process for production companies, such as Netflix, to operate in the capital.
Netflix to Invest $1 Billion in Mexico to Boost Local Film Industry and Economy
