Latest news with #ClubdeCuervos
Yahoo
21-02-2025
- Entertainment
- Yahoo
Netflix Pledges $1 Billion to Mexico Over Next 4 Years to Bolster Country's Industry
Netflix is doubling down on its investment on Mexico, pledging $1 billion over the next four years. The move, which was unveiled during a Thursday press conference with co-CEO Ted Sarandos and Mexican President Claudia Sheinbaum, is aimed at 'growing the audiovisual industry and creating jobs and opportunities all across the country.' As part of the investment, the streamer will give $2 million to 'elevate' Mexico City's iconic Churubusco Studios, one of the country's oldest and largest production facilities. Netflix will also continue creating and funding programs to provide more opportunities to diverse and creative talents behind the camera after unveiling a $1 million fund for this purpose last year. 'President Sheinbaum, at Netflix, we share your vision of a vibrant, prosperous Mexico full of growth and opportunity. And we want to play our part in making it a reality,' Sarandos said. 'Our journey in Mexico so far has taken us from North to South — from Baja California's sunset shores to the Caribbean's sunrise sands. We have produced in over 50 locations across 25 states. And with this renewed commitment, we look forward to deepening our partnership even more.' Netflix has notably had a longstanding relationship with Mexico, producing its first-ever series outside the United States, 'Club de Cuervos,' in the country 10 years ago. 'We created it in Mexico for Mexico — and it paved the way for our programming strategy, which is all about local production,' Sarandos added. Other projects he touted that were collaborations with Mexico include 'Roma,' Alejandro G. Iñárritu's 'Bardo' and Guillermo del Toro's 'Pinocchio,' as well as 'The House of Flowers,' 'Where the Track Ends,' 'Love Sick,' 'The Dead Girls,' and a new documentary on the life and art of Juan Gabriel. Additionally, Sarandos said making 'Pedro Páramo' in Mexico contributed over 375 million MXN ($18.4 million) to the country's economy. Netflix opened its first offices in Mexico in 2019 and set up its Latin American HQ there in 2020. In the past six years, the company's local staff has grown from 30 to nearly 400 employees. The post Netflix Pledges $1 Billion to Mexico Over Next 4 Years to Bolster Country's Industry appeared first on TheWrap.
WIRED
20-02-2025
- Entertainment
- WIRED
Netflix Plans to Spend $1 Billion Making Content in Mexico Over the Next 4 Years
Feb 20, 2025 3:18 PM Netflix CEO Ted Sarandos says the money will go toward projects like Alfonso Cuarón's film Roma , which was made in Mexico and went on to international acclaim. Netflix CEO Ted Sarandos presents a gift to Claudia Sheinbaum, Mexico's president, during a press conference at the National Palace in Mexico City, Mexico, on Thursday. Photograph: MayoloStreaming juggernaut Netflix plans to spend $1 billion on film and TV production in Mexico over the next four years. CEO Ted Sarandos announced the plan Thursday during a press conference with Mexico's president, Claudia Sheinbaum. The injection of capital could fund 20 productions per year, on average. During Thursday's event, Netflix also announced a $2 million investment in Mexico City's Churubusco Studios to improve the facilities. The goal is to strengthen the national film industry. 'Our journey in Mexico has taken us from north to south. From sunsets on the Baja California peninsula to sunrises on the Caribbean coast,' Sarandos said. 'We have produced in more than 50 locations in 25 states. With this renewed commitment, we look forward to deepening our partnership even further.' Mexico occupies a key place in Netflix's history. The TV show Club de Cuervos, which was produced in the country and premiered in 2015, was the company's first series shot outside the United States. Since then, Netflix has continued to make projects in Mexico that have been popular both domestically and abroad. Films like Roma , Bardo, and Pinocchio, by Mexican directors Alfonso Cuarón, Alejandro González Iñárritu, and Guillermo del Toro, respectively, have been standouts for the streamer. In 2020, the company established its Latin American headquarters in Mexico City, and in the last five years its workforce has grown tenfold. 'Together with the government of Mexico and the industry, we will continue to fund programs that help develop diverse and creative behind-the-scenes talent in the world of entertainment,' Sarandos stressed. The CEO revealed that the recent production of the feature film Pedro Paramo contributed more than 375 million pesos (about $18 million) to Mexico's gross domestic product and generated thousands of jobs in sectors such as textile manufacturing, hospitality, and transportation. For her part, Sheinbaum noted Netflix's decision to invest in the country not only reflects Mexico's tax incentives and competitive production costs, but also the country's cultural and creative richness, a richness that has allowed the platform to expand through the production of original content. 'These productions are by Mexican talent; they don't come to a location to produce an idea that was generated somewhere else in the world because it's cheap,' Sheinbaum said. 'This is about Mexican talent, creativity and cultural richness.' She suggested that her administration will back these projects with possible government support for the sector. The business opportunities for Netflix in Mexico are evident. The country has millions of streaming customers and each maintains several subscriptions at a time, according to marketing firm Bango. Netflix is among the three most popular platforms among Mexicans. According to a study by HR Media, it is the second most used video-on-demand application, with a market share of 21 percent. This content can also be viewed on the site it originates from.
Yahoo
20-02-2025
- Business
- Yahoo
Netflix to Invest $1B in Mexico Over Four Years, Put $2M Into Churubusco Studios
Netflix has committed to invest $1 billion in Mexico for the production of series and films over the next four years, meaning from 2025 through 2028, co-CEO Ted Sarandos said during a press conference with Mexican President Claudia Sheinbaum on Thursday. '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,' the streaming giant said. More from The Hollywood Reporter TelevisaUnivision Reports Full-Year Streaming Profit, U.S. Ad Revenue Grows on Sports, Political 'A Cruel Love: The Ruth Ellis Story,' About the Last Woman Hanged in Britain, Started With an Email 'Zero Day' Review: Robert De Niro and a Tremendous Supporting Cast Are Wasted in Netflix's Self-Serious Political Thriller Netflix will also invest $2 million in Mexico City's iconic Churubusco Studios, one of the oldest and largest production facilities in Mexico, to 'elevate' its facilities. And Netflix 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. 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. The global streamer has a long history in Mexico. In September 2011, Netflix became available in the country. In 2015, the company produced its first series outside the U.S. in Mexico, namely Club de Cuervos. In 2019, Netflix opened its first offices in Mexico and then decided in 2020 to set up its Latin American headquarters there. 'Over the past six years, Netflix's local employee base has increased more than tenfold, from 30 employees to nearly 400,' according to the streamer. 'This country holds a special place in Netflix's own history,' Sarandos said during Thursday's press conference, referencing Club de Cuervos. 'We created it in Mexico for Mexico — and it paved the way for our programming strategy, which is all about local production.'He continued: 'A few years later, a film called Roma, which was made here, won the Oscar for best (international) feature – it was a first for Netflix and for Mexico. In fact, it won three Academy Awards on that night. We were also proud to produce Alejandro G. Iñárritu's Bardo, which was the Mexican submission for the Oscars in 2022. And a year after that, Guillermo del Toro's Pinocchio won for best animated feature — which was another first for both Netflix and Mexico.'Concluded Sarandos: 'Over the years, we've worked with Mexican creators on hundreds of other series and films that have captured the hearts of Mexican audiences — from The House of Flowers to Where the Track Ends, to the recently announced Love Sick and The Dead Girls. And we can't wait for you to see a new documentary on the life and art of Juan Gabriel, which is coming soon. All of this helps explain why in 2020, when President Sheinbaum was the mayor of Mexico City, we decided to establish our Latin American headquarters here.' Best of The Hollywood Reporter How the Warner Brothers Got Their Film Business Started Meet the World Builders: Hollywood's Top Physical Production Executives of 2023 Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
