Saturday, June 15, 2024

Netflix to invest US $300 million in Mexico this year

Netflix will invest more than US $300 million in Mexico this year to make about 50 original productions.

Forbes México reported that the “Netflix originals” will either be local productions or international ones to be filmed here.

The slated 2021 investment is 50% higher than the $200 million the content platform and production company allocated to Mexico projects last year.

Forbes said that Netflix also provided it with information about other plans it has in Mexico. The business magazine and website said that the company is in the process of opening a new office in Mexico City that will become Netflix’s Latin America headquarters.

“We’re excited about the opening this year of our Latin America headquarters in Mexico City. We expect that by the end of 2021, our regional office will have more than 100 employees,” Netflix said.

On January 1, 2021, Netflix México officially came into existence as a separate entity to its parent company. It is the exclusive local distributor of Netflix services to Mexican customers.

News of the $300-million investment in new content will no doubt excite lovers of Mexican-made Netflix originals. Control Z, a teen drama, and Oscuro Deseo (Dark Desire), a thriller series, were among the Mexican productions that were extremely popular with audiences here and in many other countries around the world last year.

Netflix told Forbes that it intends to go beyond drama this year and delve into the comedy, adventure and action genres. It also said it would make reality programs and documentaries.

“All these titles will be from Mexico for Mexico and the world,” Netflix said.

The popular streaming service has about 200 million subscribers around the world, including approximately 7 million in Mexico.

Source: Forbes México (sp) 

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