Netflix is making a massive bet on Mexico’s film and television industry. The streaming giant announced a $1 billion investment over the next four years to produce movies and series in the country. Netflix co-CEO Ted Sarandos and Mexico’s President Claudia Sheinbaum made the pledge during a press conference on February 20,

SAN DIEGO ( Border Report) — Over the next four years, Netflix has pledged $1 billion to develop and produce films and series in Mexico, according to Ted Sarandos, Netflix co-executive director. The company’s investment was announced Thursday morning during Mexico President Claudia Sheinbaum’s daily news conference in Mexico City.

Netflix CEO Ted Sarandos says the money will go toward projects like Alfonso Cuarón’s film “Roma,” which was made in Mexico and went on to international acclaim.

Netflix made a big announcement that will benefit Mexico and its movie, production industry. And find out about a new project on Juan Gabriel.

The investment includes $2 million to upgrade facilities at Mexico City’s Churubusco Studios, co-CEO Ted Sarandos says

Mexico's President Claudia Sheinbaum said Netflix's investments in the film industry should produce many jobs beyond immediate production needs.

Netflix has committed $1 billion to Mexico's audiovisual industry over four years to boost production and back local talent.

Streaming giant Netflix (NFLX) is seeking growth in Mexico with a $1 billion investment. During Mexican President Claudia Sheinbaum’s press

"This country holds a special place in Netflix's own history," co-CEO Ted Sarandos said during a press conference in Mexico City.

During a press conference with Mexican President Claudia Sheinbaum, Netflix co-CEO Ted Sarandos revealed a planned investment of $1 billion to produce series and films in Mexico over the next four years.

Ted Sarandos, chief executive officer of Netflix Inc., right, presents a gift to Claudia Sheinbaum, Mexico’s president, during a press conference at the National Palace in Mexico City ...