Netflix is betting big on the Spanish market
The streaming giant has announced it is investing €1 billion in Spain. Fiction shows produced in the country are increasingly popular around the world, reports the daily newspaper El País.
It was during the celebrations on Tuesday, June 10, of Netflix Spain's tenth anniversary that the platform announced a significant investment plan in the country, with 1 billion euros by 2028, reports the daily El País . Netflix CEO Ted Sarandos confirmed the platform's strategic interest in this market, with 1,000 Spanish productions already added to its catalog since 2017. He made this announcement during a conference at Netflix's Madrid production center, "the largest in Europe," and alongside Prime Minister Pedro Sánchez (Spanish Socialist Workers' Party) himself.
“The arrival of Netflix, ten years ago now, revolutionized the way we watch series and films. But, above all, it transformed the world's view of our country,” said the politician, recalling the importance of cultural soft power in today's world.
With the global success of series like Money Heist and Elite , as well as numerous thrillers , Netflix has transformed the Spanish streaming landscape both at home and abroad. This is a particularly interesting strategy for the platform, as it also allows it to reach the approximately 600 million Spanish speakers worldwide, from the Philippines to South America.
Diego Ávalos, vice president of Netflix Spain, said that more than 60 local production companies have collaborated on the platform's projects since 2017. "Thanks to their work, Spain is now a global leader in both audiovisual and creative fields."
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