Netflix’s Sarandos commits to investing $1.1bn in Spain before 2028

Ted Sarandos on stage at Netflix’s event in Madrid

Netflix has pledged to invest €1bn (US$1.1bn) in Spain between 2025 and 2028, redoubling its commitment to local production in the country.

The streamer’s co-CEO, Ted Sarandos, made the announcement during an event in Madrid celebrating Netflix’s 10th anniversary in the country, which was also attended by Spanish prime minister Pedro Sánchez.

Boosted by the success of titles like Money Heist, Elite and Society of the Snow, Spain has become one of Netflix’s key territories internationally. The company has its largest production complex in Europe in the country, spread across 10 studios located in Tres Cantos.

“I’ve visited many of the world’s finest studios, and this facility is, without a doubt, second to none: 22,000 square metres, 10 world-class sound stages, a pioneering post-production centre and an unparalleled experience,” Sarandos said.

According to the executive, since its arrival in the country, Netflix has released more than 1,000 Spanish titles and has produced locally in some 200 cities, creating 20,000 jobs. In 2024 alone, he added, Spanish titles on the platform generated five billion hours of viewing worldwide.

Sánchez said there had “never been so many people working in the audiovisual industry as there are now” in Spain, adding that audiovisual and video game production in the country has increased by 30% in recent years.

The announcement of the new investment in Spain comes weeks after Sarandos pledged a similar investment in Mexico.