Netflix will invest €1 billion ($1.1 billion) in Spanish productions by 2029, co-CEO Ted Sarandos said Tuesday during a visit to the company’s Tres Cantos hub in Madrid.
The announcement was made alongside Spain’s Prime Minister Pedro Sanchez and follows a similar pledge made in February to spend $1 billion on production in Mexico over four years.
Sarandos said the company’s investment would support the Spanish audiovisual sector and praised local creators for producing global hits such as Society of the Snow and Elite. He noted that Spanish-language titles have generated more than 5 billion hours of viewing on Netflix.
Netflix opened the Tres Cantos facility in 2019 and expanded it in 2022. It now includes 10 sound stages. Sarandos said the studio represents the company’s long-term commitment to Spain.
He credited Spanish content like the Dali masks, red jumpsuits, and the song “Bella Ciao” with becoming part of global culture. Sarandos added that Netflix would continue working with Spanish creators to support the economy and share the country’s stories with a wider audience.
