Netflix Pledges Significant Investment in Mexico Amid Trade Tensions
Mexico City, February 20th, 2020 – Streaming giant Netflix has announced plans to invest a substantial amount of money in Mexico over the next four years. The investment, valued at $1 billion, will be allocated towards the production of new series and films in the country.
The announcement was made by Netflix Co-CEO Ted Sarandos, who was joined by Mexico City Mayor Claudia Sheinbaum. The move comes amid heightened trade tensions between Mexico and the United States, highlighting Netflix’s commitment to the Mexican market.
Bolstering Local Content Production
Netflix’s investment will play a crucial role in bolstering Mexico’s film and television industry. The company has witnessed significant success with previous Mexican productions, including Alfonso Cuarón’s 2018 Oscar-winning film "Roma."
By investing in local content, Netflix aims to support Mexico’s creative talent and showcase their stories to a global audience. The company believes that Mexico is a rich source of compelling stories and has the potential to become a major hub for film and television production.
Strengthening Economic Ties
Beyond entertainment, Netflix’s investment is expected to have a positive impact on Mexico’s economy. The production of new series and films will create jobs, stimulate economic activity, and boost the country’s creative sector.
Furthermore, Netflix’s presence in Mexico will likely attract other international streaming services and production companies, leading to increased competition and investment in the country’s film and television industry.
Navigating Trade Challenges
The announcement of Netflix’s investment comes at a time of heightened trade tensions between Mexico and the United States. The Trump administration has imposed tariffs on Mexican goods, prompting concerns about the impact on Mexican businesses and the economy.
Despite these challenges, Netflix remains committed to its investment in Mexico. The company believes that its long-term plans can weather any short-term disruptions in trade relations.
A Global Leader in Entertainment
Netflix is a global leader in streaming entertainment, with over 167 million subscribers worldwide. The company offers a vast library of original content, including series, films, documentaries, and stand-up comedy specials.
Netflix’s investment in Mexico is part of its broader strategy to expand its global reach and cater to diverse audiences around the world. The company is confident that Mexico has the potential to become one of its most important markets.
Additional Remarks by Netflix Co-CEO Ted Sarandos
"Mexico is a vibrant and creative country with a rich storytelling tradition," said Sarandos. "We believe that our investment will help to unlock the potential of Mexico’s film and television industry and bring even more great stories to our members around the world."
Additional Remarks by Mexico City Mayor Claudia Sheinbaum
"Netflix’s investment is a testament to the strength and potential of Mexico’s creative sector," said Sheinbaum. "We are excited to partner with Netflix and support their efforts to showcase the best of Mexican filmmaking to the world."
