A new weapon to support the economy and further promote Spain as a tourist destination will be the significant €1 billion investment that Netflix will make in the country.
The presence of the Prime Minister of Spain, Mr. S?nchez, at the Netflix facilities, in the Tres Cantos area on the outskirts of Madrid, was indicative, on the occasion of the tenth anniversary of the Netflix Group’s presence in Spain. In his speech, Mr. S?nchez thanked Netflix for its strong commitment to the development of the Spanish audiovisual industry over the last decade.
Previously, one of Netflix’s two managing directors, Ted Sarandos, announced that the Group is going to invest €1 billion in Spain by 2028. According to Mr. Sarandos, “with this investment, Netflix will be able to contribute even more to the Spanish economy, create more jobs, tell more stories created in Spain, and support future domestic film talent.”
During his speech, Mr. Sarandos highlighted that in the last decade Netflix has launched more than 1,000 Spanish titles on its platform, having created 20,000 jobs in the audiovisual sector, with its films and series being filmed in all the Autonomous Communities of the country, describing Spain as “a good place to do business.”
For his part, the Spanish Prime Minister thanked the platform for its commitment to the Spanish audiovisual industry and for announcing the investment of 1 billion euros. euros, stressing that Netflix has not only changed the way Spanish viewers consume fiction, but has also contributed to a deeper change, “in the way the world sees Spain”.
Regarding the cultural and creative industries sector in Spain, Mr S?nchez argued that they are experiencing an “exceptional” moment, representing 2.3% of national gross added value and employing 770,000 people, making Spain the second largest European film producer after Italy.
According to the Spanish Prime Minister, “in recent years, the production of audiovisual media and video games in Spain has increased by 30%, thanks to public-private cooperation” and the creation, thanks to the European Next Generation Funds, of the Spanish Audiovisual Hub, to which a total of 3.3 billion euros have been allocated”.
As he characteristically stated, “In 2024 alone, 376 feature films were produced in the audiovisual sector in Spain, 70% more than in 2020, which demonstrates the Government’s firm commitment to this sector”.
In this context, Mr. S?nchez praised Spanish film talent and stressed that inclusive education is key for the Government, which is why new grants for screenwriting have recently been launched, with a special focus on female screenwriters and co-official languages, among others.
(*) Information comes from the Office of Economic and Commercial Affairs in Madrid.
