Back to All NewsTed Sarandos Keynote: Mexico's Presidency Press Conference
President Claudia Sheinbaum & Ted Sarandos
Ted Sarandos
co-CEO
Business
20 February 2025
GlobalMexico
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Good morning, President Sheinbaum. Thank you for the warm welcome, and thanks to Secretary Ebrard's team for helping us prepare this announcement. I also want to thank all the government officials and journalists who are here today, and everyone in Mexico who is watching.
My Spanish is not very good, so I appreciate your patience with the translation.
It is great to be back in Mexico City. Every time I come here, I'm amazed by the blend of the old and the new - between history and modern culture. It's inspiring. And it helps explain why there's always been so much creativity in Mexico - from art and food, to literature, architecture, and of course, storytelling.
This country holds a special place in Netflixs own history. It was here, 10 years ago, where we produced our first series outside of the United States called 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.
A few years later, a film called Roma, which was made here, won the Oscar for Best Foreign Language Feature - it was a first for Netflix and for Mexico. In fact it won 3 Academy Awards on that night. We were also proud to produce Alejandro G. I rritu'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.
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 cant 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. Over the last six years, our local employee base has increased more than ten times.
Being local is very important to us. It's why all of our series and films in Mexico are made in partnership with local production companies and local partners. Every single one. That means we're investing in the creative community, and helping talented people find their calling in our industry. But we're also helping people in other industries make a living, too - from catering and hotels, to transportation and manufacturing.
Let's take one example: our recent film Pedro P ramo contributed over 375 million Mexican pesos to the country's gross domestic product and employed thousands of local crew members, hundreds of technicians and artists, and dozens of traditional musicians.
Pedro Paramo also required the production of more than 5,000 pieces of wardrobe, which were crafted in collaboration with masters in the art of traditional textiles. The costume design team met them at Original - the textile art event organized by your government. Thank you for creating spaces that spotlight Mexican talent.
And the impact went far beyond the production itself: almost 70 years after the book's initial release, sales tripled. Investments in the audiovisual industry really do have a multiplier effect. A recent study found that the audiovisual industry here in Mexico contributes $3 billion US dollars to the Mexican economy every year - and every dollar spent generates $1.6 of added value.
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. That's why today, I'm happy to announce that Netflix will be investing $1 billion US dollars to produce series and films in Mexico over the next four years - growing the audiovisual industry and creating jobs and opportunities all across the country.
Our journey in Mexico so far has taken us from North to South - from Baja California's sunset shores to the Caribbeans 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.
Together with our government and industry partners, we'll also keep funding programs that help diverse and creative talent behind the camera break into entertainment. We've been doing this for years now, and it's been very successful.
Finally, I'm happy to announce that we'll also be collaborating with Churubusco Studios, where some of the greatest works of Mexican cinema have been made, to invest in the elevation of its facilities.
President Sheinbaum, we look forward to working with you and the many teams within your government to not only grow the economy and create opportunity, but to bring more of this beautiful Mexican rich cultural heritage to the world.
Thanks again for having me. And before I leave, President Sheinbaum, please let me present you with this hand-crafted shawl - or rebozo, which was worn by the character Damiana in our adaptation of Pedro Paramo. It was made by Alejandro Vazquez, master of the treadle loom in the State of Mexico.
