Netflix to Invest €1 Billion in Spain by 2028, Boosting Local Industry

Netflix has announced a landmark investment of over €1 billion in Spain between 2025 and 2028, reinforcing its commitment to the country’s booming audiovisual industry. The announcement was made by co-CEO Ted Sarandos during a special event at Netflix’s Tres Cantos production hub in Madrid, attended by Spanish Prime Minister Pedro Sánchez, the Minister for Digital Transformation and Public Service, Óscar López, and other key officials. This event marked Netflix’s tenth anniversary in Spain and highlighted the company’s growing role as a driver of local creative talent and economic growth.

Sarandos emphasized that this new investment will allow Netflix to contribute even more to the Spanish economy, create more jobs, tell more stories made in Spain, and support the next generation of creative professionals.

Over the past decade, Netflix has launched more than 1,000 Spanish titles, working with over 60 local production companies and filming in more than 200 cities and towns across all regions of Spain. These productions have generated over 20,000 jobs in the audiovisual sector and have brought the diverse faces and stories of Spain to a global audience.

Netflix’s biggest production site, in Spain

The Tres Cantos facility, inaugurated in 2019, is now Netflix’s largest production site in the European Union, boasting 22,000 square meters, ten top-tier sound stages, and a cutting-edge post-production center. Sarandos described it as “much more than a home: it’s a reflection of our deep and lasting commitment to Spain.” He highlighted that some of Netflix’s most iconic Spanish series and films—such as “La sociedad de la nieve,” “Élite,” “La casa de papel,” and the upcoming “El refugio atómico”—were created here, with Spanish creators, casts, and crews.

In 2023 alone, Spanish titles on Netflix generated more than 5 billion hours of viewing worldwide, with elements like the Dalí masks and “Bella Ciao” from “La casa de papel” becoming global pop culture icons. Four of the ten most-watched titles in Netflix’s history are Spanish, underscoring the international appeal of content made in Spain.

Spain’s Prime Minister Pedro Sánchez and Ted Sarandos, Netflix co-CEO. Image credits: Netflix.

Prime Minister Sánchez praised Netflix’s ongoing commitment, noting that the company has not only changed how Spanish audiences consume fiction but also helped transform how the world sees Spain. He highlighted the positive impact on tourism, as international viewers are inspired to visit the locations featured in their favorite shows and films. Sánchez also pointed out that Spain’s cultural and creative industries now represent 2.3% of the country’s gross value added and employ 770,000 people—a record high.

Public-private collaboration

The Prime Minister credited this growth to strong public-private collaboration and initiatives like the Spain Audiovisual Hub, supported by €3.3 billion from the EU’s Next Generation funds. He also stressed the importance of culture as both entertainment and education, helping people see the world through new perspectives and celebrate diversity.

As Netflix looks ahead to the next decade in Spain, Sarandos expressed gratitude to the creators, producers, writers, directors, technical teams, and artists who have made these achievements possible. “These ten years have been truly extraordinary, and the next ten will be even more exciting,” he concluded.

With this new investment, Netflix is set to play an even bigger role in Spain’s creative future, supporting local talent, boosting the economy, and sharing Spanish stories with the world.