Reuters reports that Netflix's CEO says it will invest $1 billion in Mexico to produce 20 films and TV series a year over the next four years.
Ted Sarandos hopes to expand its partnership with filmmakers.
The Mexican president has said that investments in the film industry will also create jobs for hoteliers, actors, crew, and fashion designers and boost tourism.
Netflix has already agreed to collaborate with Mexico City's Estudios Churubusco, one of the oldest film studios in Latin America.
