Ted Sarandos, chief executive officer of Netflix Inc., right, presents a gift to Claudia Sheinbaum, Mexico’s president, during a press conference at the National Palace in Mexico City, Mexico, on Thursday, Feb. 20, 2025. Netflix will invest $1 billion for production in Mexico through 2028, which will fund about 20 productions per year.
SAN DIEGO — Over the next four years, Netflix has pledged $1 billion to develop and produce films and series in Mexico, according to Ted Sarandos, Netflix co-executive director.
The company’s investment was announced Thursday morning during Mexico President Claudia Sheinbaum’s daily news conference in Mexico City.
Sarandos said about 20 productions per year will be the goal.
The agreement is expected to generate thousands of jobs and career opportunities in Mexico.
“President Sheinbaum and Netflix share a vision of a vibrant and prosperous Mexico filled with growth and opportunities,” Sarandos said. “We want to contribute and make this a reality, it will help grow the audiovisual industry while generating jobs throughout the country.”
Mexico was the first country, outside the United States, where Netflix set up productions. One of its projects, a film called “Roma,” won an Academy Award.
According to Sarandos, Netflix has produced more than 50 series and films at different locations around Mexico in 25 states.
“I love coming back to Mexico City, every time I return it surprises me with a mix of the old with the new in terms of history and culture, it’s inspiring to see so much creativity is in Mexico, from art to food, architecture, literature and of course its stories,” said Sarandos.