The US streaming giant Netflix has said that it is going to invest €1.1 billion in productions in Spain between 2025 and 2029, which has become one of the audiovisual sector’s key creation hubs in Europe. ‘Over the next four years we plan to invest over one billion euros in Spain,’ Netflix co-chief executive Ted Sarandos said at an event in the company’s studios in Tres Cantos, near Madrid on Tuesday. ‘With this investment, we will be able to contribute even more to the Spanish economy, create more Spanish jobs, tell more great stories made in Spain,’ he said, standing alongside Spanish Prime Minister Pedro Sánchez.
The prime minister was accompanied by the Minister for Digital Transformation and Public Service, Óscar López. The event marked the 10-year anniversary of Netflix’s presence in Spain. ‘Culture is entertainment, but also education. It teaches us to see the world through new eyes and understand different realities. Culture is above all freedom. Thanks to those who make the magic of audiovisual possible and congratulations to Netflix for these 10 years in Spain,’ said Sánchez. Netflix opened its studios in Spain — the first ones outside the United States — in April 2019, shortly after finding global success with the Spanish crime series ‘Money Heist’ (Casa de Papel).
Since then, it has turned the 22,000-square-metre studios into one of its main sites for film and TV production in the European Union. Netflix has produced more than 1,000 Spanish-language titles since 2017. Spanish films and series have proven highly successful for the streaming giant, generating over five billion viewing hours on the platform last year alone. According to Netflix, its activity in Spain supports more than 20,000 jobs.
