Netflix has announced a major new investment in Spain, committing to spend €1 billion ($1.1 billion) by 2029 to boost its production of Spanish original content. The announcement was made by Ted Sarandos, Netflix’s co-CEO, during a visit to Madrid to mark the streamer’s 10th anniversary in Spain.
Sarandos visited Netflix’s European production hub in Tres Cantos, just outside Madrid, alongside Spanish President Pedro Sánchez. He emphasized the importance of Spain as a key location for Netflix’s global content strategy.
Larry Tanz, Vice President of Content for Europe, Middle East, and Africa at Netflix, said, “Netflix is proudly commissioning programming in international markets with a focus on local audiences while being happy if they also end up traveling the world and becoming global hits.”
The €1 billion pledge is a significant increase in Netflix’s commitment to Spain and comes after the success of several Spanish-language originals. Shows like Money Heist (La Casa de Papel), Elite, and Society of the Snow have become massive hits, not just in Spain but around the world. Netflix has already filmed in over 200 cities across Spain, and according to Sarandos, its productions have helped create or support more than 20,000 jobs. This investment reflects the company’s aim to strengthen its relationships with local creatives, producers, and technicians.
The company’s Tres Cantos campus, about 30 minutes from central Madrid, is Netflix’s largest production facility in Europe, featuring 10 soundstages. This campus acts as a major hub for shooting and producing Netflix content across the continent.
“Dali masks, red jumpsuits, Bella Ciao all of them have become instantly recognizable parts of the global culture,” Sarandos said, referring to the cultural impact of Money Heist. Other notable Spanish titles on Netflix include Berlin (a Money Heist spin-off), White Lines, and The Snow Girl.
In 2024 alone, Netflix’s Spanish originals generated over 5 billion hours of viewing worldwide, according to Sarandos. This figure highlights the global appeal of Spanish storytelling and the strength of local productions in driving engagement on the platform.
Additionally, Netflix revealed that it has filmed in over 200 Spanish cities and supported more than 20,000 jobs in the country, making Spain a critical production market for the streaming service.
The Tres Cantos studio campus, which features 10 soundstages, is Netflix’s largest production facility in Europe, located just 30 minutes from Madrid. The site is set to play a central role in producing future Spanish-language content.
Netflix leaders stressed that while the company loves when shows travel globally, its priority is to create content for local audiences. “I understand that there might be people who have an interest in saying we’re commissioning for international audiences, but they all know it’s just not true,” Tanz noted. “We are absolutely focused on the local audience first and foremost, and that’s our whole investment approach.”
Notably, this local-first strategy is being applied not just in Spain but across other EMEA (Europe, Middle East, and Africa) regions. The goal is to ensure that Netflix’s content connects deeply with local viewers while still having the potential to become global sensations.
With this new funding, Netflix aims to continue supporting Spain’s vibrant creative industry and expanding its library of Spanish-language originals. Additionally, the move reinforces Netflix’s strategy of investing in diverse, regional content that can resonate both at home and abroad.
As the competition in the global streaming market grows, Netflix is betting big on localized stories with universal appeal. By nurturing talent and building infrastructure in places like Spain, the company is creating a model that combines regional storytelling with global reach.