Netflix Pledges €1B for Spanish Content by 2029

Netflix has announced it will invest over €1 billion ($1.1 billion) in Spanish content production by 2029, reinforcing Spain as a key hub for its European operations. The investment coincides with Netflix’s 10-year anniversary in Spain and follows a similar billion-dollar commitment to Mexican production made earlier this year. Spanish-language originals, including 'Money Heist' and 'Elite', have already accumulated more than 5 billion hours of global viewing. Netflix's Tres Cantos studios near Madrid, the company's largest European complex, support over 20,000 jobs and have enabled productions in more than 200 Spanish cities. Co-CEO Ted Sarandos reiterated the focus on commissioning content for local audiences, while celebrating international success. Spanish Prime Minister Pedro Sanchez welcomed the investment, noting its positive impact on the country's economy and creative sectors.