US streaming large Netflix mentioned on Tuesday it was going to speculate greater than €1 billion ($1.1 billion) in productions in Spain, which has turn into one in every of audiovisual creation hubs in Europe.
“Over the subsequent 4 years we plan to speculate over one billion euros in Spain,” Netflix co-chief govt Ted Sarandos mentioned at an occasion within the firm’s studios close to Madrid.
“With this funding, we will contribute much more to the Spanish economic system, create extra Spanish jobs, inform extra nice tales made in Spain,” he mentioned, standing alongside Spanish Prime Minister Pedro Sánchez.
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The occasion marked the 10-year anniversary of Netflix’s presence in Spain.
It opened its studios there — the primary ones outdoors america — in April 2019, shortly after discovering world success with the Spanish crime sequence “Cash Heist”.
Since then, it has turned the 22,000-square-metre (236,800-square-foot) studios into one in every of its most important websites for movie and TV manufacturing within the European Union.
In keeping with Netflix, its exercise within the nation helps greater than 20,000 jobs.
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