Netflix Invests in More Content Produced in MexicoBy Jorge Ramos Zwanziger | Thu, 01/28/2021 - 09:55
Netflix has announced that it will invest over US$300 million in Mexico for over 50 original productions in the country, 50 percent more than its investment in 2020, reports El Financiero. Netflix’s announcement comes shortly after it posted its 4Q20 financial results. The company reported US$8.5 million in net profit in its fourth-quarter thanks to its US$6.6 billion in revenue and over 200 million paid memberships. Over the year, the company saw a 31 percent increase in net additions, year over year, which it ascribes to the COVID-19 pandemic and quarantines. “We are enormously grateful that in these uniquely challenging times we have been able to provide our members around the world with a source of escape, connection and joy, while continuing to build our business,” said Netflix in its Shareholder Letter.
The company highlights that the breadth and diversity of its entertainment offering is the reason for its 4Q20 success and why it has “been moving so quickly to grow and further strengthen its original content library across a wide range of genres and nations.” Mexican productions have been successful for Netflix and it has also been proven that these contents are favorites by users around the world, according to a previous MBN article.
An example of this great success is the show “Control Z,” a Mexican teen drama streamed by 20.5 million households worldwide in its first 28 days, reaching the Top 10 charts in 64 countries, including Mexico, Brazil, Spain, France and the US, reports Expansión Política. “That is why we continue to expand the offering beyond drama series to venture into comedies, adventure, documentaries, action and even reality shows. All these titles are from Mexico to Mexico and to the world,” reported MBN.