Netflix To Invest $1 Billion In Mexico Over Next 4 Years

An anonymous reader quotes a report from Reuters: The chief executive of streaming giant Netflix on Thursday announced a $1 billion investment to produce some 20 films and TV series in Mexico annually over the next four years. Speaking at President Claudia Sheinbaum's morning press conference in Mexico City, Netflix CEO Ted Sarandos said he looked forward to entering more partnerships with producers in the Latin American nation. Sheinbaum said the investments in the film industry should produce many jobs beyond immediate production needs, such as hospitality for actors and crew members, fashion designers and also spur tourism. 'It's an industry that gives a lot of mileage to the economy,' Sheinbaum said. 'It's not only important for Mexico to be seen in the world, but also because of the economic development and jobs generated by a production.'

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