Netflix to invest US $300 million in Mexico - 2021
From：Taiwan Trade Center Mexico
Netflix will invest more than US$300 million in Mexico for 50 original productions scheduled for 2021, Forbes Mexico reported. Last year, the streaming giant invested US$200 million in the country. The amount will be invested in local or global productions filmed in the country.
Mexican productions, according to Netflix, have positioned themselves among the favorites of users around the world. The Control Z series, released in May 2020, was seen by 20.5 million users worldwide in its first 28 days and made it to the Top 10 charts in 64 countries. Oscuro Deseo (Dark Desire), meanwhile, engaged 35 million users worldwide in its first 28 days after its premiere in July. “We continue to expand our offer beyond drama series to include comedies, adventure, documentaries, action and even reality shows. All these titles are made in Mexico for Mexico and for the world,” the company noted.
Back in March 2020, Mexican senators lobbied for streaming platforms like Netflix and Amazon to ensure national content makes up at least 30% of their catalogs. According to the Telecommunications Law Institute, this measure was intended to facilitate the dissemination of content that is close to national values and cultural idiosyncrasies. In Mexico, 51% of the population spends at least 3hrs a day watching online content, according to the 2019 National Audiovisual Content Consumption Survey, conducted by the Federal Institute of Telecommunications (IFT). YouTube ranked first with an 80% preference, followed by Netflix with 35%.
In its 4Q20 report, Netflix reported an added 8.51 million subscribers, surpassing the expected 6.01 million by 41% and hitting the 200 million subscriber mark.