Netflix has announced that it will be investing over $1 billion for film and TV production in Mexico over the next four years.
Netflix co-CEO Ted Sarandos announced the move on Thursday during a press conference with Mexican President Claudia Sheinbaum.
“This investment, and the productions derived therefrom, will benefit Mexican production companies and will contribute to the growth of the local audiovisual industry and the creation of opportunities nationwide,” said Sarandos.
According to The Hollywood Reporter (THR), the streaming giant will “invest $2 million in Mexico City’s iconic Churubusco Studios, one of the oldest and largest production facilities in Mexico, to ‘elevate’ its facilities.”
“The streaming company will continue creating and funding programs that help develop diverse and creative talents behind the camera, so that they may develop their careers in the entertainment industry,” added THR. “In August last year, a fund worth more than $1 million was unveiled in Mexico to be used in 2024 and 2025 for this purpose.” […]
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