Netflix revealed on Tuesday that they plan to inject more than one billion euros (approximately $1.14 billion USD) into Spain between the years 2025 and 2028.
At a press conference held in Spain on Tuesday, marking Netflix’s first decade in the country, Ted Sarandos, one of the co-CEOs of Netflix, made a commitment. In his broad yet succinct speech, he shared his thoughts on this matter.
The article highlighted Netflix’s accomplishments in Spain and factors contributing to its success, while expressing approval for regulations that foster creativity, innovation, and strategic thinking – a subtle hint of criticism towards countries like France, where Netflix recently submitted an appeal to France’s Council of State against rules restricting film releases, preventing it from streaming movies in France until 15 months after their theatrical debut.
In Sarandos’ speech, he emphasized the successes achieved by Spain over the past decade instead of addressing Netflix’s ongoing legal issues in France. However, for those attending the event on Tuesday in Madrid, the company’s legal battle was still a noticeable issue that couldn’t be ignored.
At Tres Cantos, located approximately a half hour’s drive north of Madrid in Spain, Ted Sarandos recently addressed the team at Netflix’s premier European Production facility, which happens to be their largest 10-soundstage studio complex in Europe for their streaming service.
Spain’s rich cultural background, lively entertainment sector, and exceptional artistic abilities make it an ideal destination for conducting business,” Sarandos shared with a gathering that included Spanish Prime Minister Pedro Sanchez, creative professionals, and business leaders.
What we’ve encountered has motivated us to create our charming residence right here in Tres Cantos – a testament to our enduring dedication towards Spain,” he further stated.
The approximately $1.2 billion (over 1 billion euros) pledged for investment in Spain is comparable to the level of investment currently at around €250 million ($285.1 million) annually in France for television series, films, and documentaries, as stated by Pauline Dauvin, Netflix’s Content VP for France, in April.
Despite the fact that Netflix already has 8.7 million subscribers in Spain compared to 14.6 million in France (according to Omdia’s estimates), a significant Spanish investment is still being made.
Over the past ten years, Netflix Spain has experienced nothing less than remarkable growth, as stated by Sarandos on Tuesday.
Spain has surpassed all other countries in terms of number of entries on Netflix’s list of most-watched non-English language shows and films, with a total of eight. This achievement is due to popular series such as “Money Heist” and “Society of the Snow.” Countries like France, South Korea, Mexico, Norway, and Germany trail behind Spain with five, two, two, two, and one entry respectively.
Netflix’s CEO mentioned that last year, Spanish productions amassed over 5 billion viewing hours on their platform. This global viewership surpasses any other non-English European production titan, with a count that is more than twice the viewing hours for French titles, according to Omdia’s predictions.
Much of Sarandos’ speech was dedicated to explaining Spain’s spectacular success.
He mentioned that he’s visited numerous renowned stages globally, but the amenities here are exceptional and hard to beat. Covering 22,000 square meters, there are ten top-tier sound stages available. The post-production facility is world-class, and overall, the experience is smooth and flawless.
Sarandos mentioned that several notable Spanish creators have filmed some of our cherished productions: ‘The Society of the Snow’ by J.A. Bayona, a film which garnered 12 Goya awards and was nominated for an Oscar. Additionally, we have our longest-running series to date – ‘Elite,’ created by Carlos Montero. The list also includes ‘Money Heist,’ ‘Berlin,’ the upcoming ‘Billionaires’ Bunker’ from Alex Pina and Esther Martínez Lobato.
As a devoted fan, I was thrilled to be part of the crowd that witnessed Tres Cantos’ Production Hub revolutionize the Spanish film industry. It was the pioneer in Spain to incorporate High Dynamic Range imaging, Atmos Dolby surround sound, and advanced post-production workflows – all innovations that Hollywood often adopts after the fact. The Hub’s groundbreaking project, “Billionaires’ Bunker,” showcased a massive 30×6 meter virtual screen and an impressive 8×4 meter ceiling screen. This hub has consistently been at the forefront of technological solutions, addressing them before they become industry standards, rather than following Hollywood’s lead.
In its Q1 results this April, Netflix revealed that their viewership exceeds 700 million people worldwide, with more than two-thirds residing outside the United States. To cater to this global and multifaceted audience and provide an enjoyable experience for them all, our approach is to consistently enhance and broaden our entertainment selection, beginning with engaging series and films from various countries that resonate deeply with local viewers. We firmly believe these stories should reflect their authentic experiences as we value the significance of presenting genuine narratives to our diverse global community.
Spain serves as a prime example. In the opening of his speech, Sarandos pointed out that since 2017, Netflix has made available over 1,000 Spanish productions to its members, both within and beyond Spain’s borders. These titles hail from various regions across Spain.
In his remarks, Sarandos highlighted several shows that “originated from our initial Spanish series here in Madrid (‘Cable Girls’), to ‘The Snow Girl’ filmed in Andalusia, ‘Nowhere’ on the beaches of Sitges, and ‘All The Truth Behind My Lies’, currently being shot in Murcia.
Netflix has captured footage in more than 200 cities and towns spanning all autonomous communities, or regions, of Spain.
Sarandos stated that this [unspecified thing] showcases various aspects of Spain, generating tangible economic advantages throughout the nation and sustaining over 20,000 jobs within the Spanish media industry.
Back on December 20, 2017, Netflix introduced “Money Heist” from Spain to the world. This was their fifth non-English series, released globally in a revamped format. The show quickly gained popularity, becoming Netflix’s first global hit series in a foreign language.
What makes ‘Money Heist’ exceptional is that it manages to be an international blockbuster while remaining deeply rooted in its local culture – Latin and unabashedly so. The series blends elements of melodrama with a disruptive intensity, and it is distinctively Spanish.
Sarandos remarked that items like Dali masks, red jumpsuits, and the tune ‘Bella Ciao’ are now universally identifiable symbols of our shared global culture,” he said.
It’s evident why these movies and shows strike a chord – they each genuinely reflect Spanish culture. Produced in Spain, by Spanish production companies, written by Spanish writers, featuring Spanish actors, and operated by Spanish crew members, all tailored for Spanish viewers.
These Spanish productions, from Dalí masks and red jumpsuits to ‘Bella Ciao,’ have gained worldwide popularity as cultural sensations. The reason for their widespread appeal is evident – they all authentically reflect the essence of Spain, being created, performed, and produced by Spaniards in Spain.” (Sarandos was expressing his excitement in Madrid.)
With “Money Heist,” Netflix boldly advanced its innovative approach to business, by rapidly distributing and producing content on a global scale unlike anything seen before, marking a significant step towards the future.
More to come.
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2025-06-10 14:48