Netflix is celebrating its 10th anniversary in Spain with a massive new investment plan

The announcement, made by co-CEO Ted Sarandos on Tuesday, took place at Netflix's production hub in Tres Cantos, Madrid

Netflix is celebrating a massive new investment plan for Spain as the streaming giant pledges over €1 billion, or approximately $1.14 billion, to the country’s audiovisual sector over the next four years.

The announcement was made by co-CEO Ted Sarandos on Tuesday at Netflix’s production hub in Tres Cantos, Madrid. The event was also attended by Spanish Prime Minister Pedro Sánchez and Minister for Digital Transformation Óscar López.

Since launching its European operations out of the Tres Cantos facility in 2019, the streaming service has made Spain a central focus of its global expansion plans. At 22,000 square meters with ten advanced sound stages and a world-class post-production suite, it is the largest production site in the European Union for the company.

“This space is a symbol of our deep, sustained commitment to Spain,” Sarandos said of the facility, which has been used to shoot and complete some of the platform’s most iconic productions.

“I want to thank the Spanish creators, producers, actors, technicians, drivers, caterers and everyone else who has worked tirelessly to bring the magic of this country’s storytelling to our members around the world.”

Spain Inc: A Risky Move That Paid Off

The past decade has seen Spain evolve massively from a minor market in the global streaming landscape into a cornerstone of Netflix’s international strategy. With more than 1,000 Spanish titles released since 2017 and content shot in over 200 cities across the country, the company’s investment has not only boosted local storytelling but also created over 20,000 jobs within the Spanish audiovisual sector.

This commitment has paid off handsomely. According to Sarandos, Spanish titles contributed over five billion hours of viewing globally last year alone.

According to the streaming giant, this success can be attributed to the company’s focus on local authenticity. From Cable Girls, the first Spanish original, to international phenomena like Money Heist and Elite, its programs have consistently been chosen for their cultural relevance.

“The reason these films and series resonate is clear, they are all, in their own way, authentically Spanish. Made in Spain by Spanish producers, Spanish creators, Spanish cast, Spanish crews. And all made for Spanish audiences.”

This dedication to cultural integrity, rather than attempting to tailor content for broader appeal, appears to be a defining feature of Netflix’s strategy in the region.

A Favorable Business Climate Spurs Further Investment

The decision to expand its footprint in Spain is not only artistic but strategic. Noting the regulatory environment that encourages “creativity, innovation, and long-term thinking,” Sarandos praised Spain for attracting creative enterprises and giving Netflix confidence in its long-term investment.

“This commitment to investing in homegrown talent and stories is a core part of our business model and one that we couldn’t pursue without the support and vision of the Spanish government and institutions.”

The partnership between the Spanish government and Netflix was highlighted by Prime Minister Sánchez, who hailed the company’s role in enriching the country’s cultural exports and supporting economic growth.

In turn, Sarandos credited Spanish institutions and creative professionals for building a relationship that has allowed the company to thrive.

“We are proud to be part of the fabric of Spanish society and to contribute to the country’s vibrant cultural landscape. We are grateful for the trust and partnership that we have enjoyed with the Spanish government, institutions and, most importantly, the incredible creative community.”

As the streaming giant prepares to channel over $1 billion more into Spain by 2028, its leaders are framing the move not just as an investment in content, but in the future of storytelling. The next chapter will involve scaling production, creating more local jobs and helping a new generation of Spanish talent find global audiences.

“We look forward to working with you and your teams to grow the economy, create opportunity and bring more of this beautiful, rich Spanish heritage to the world,” Sarandos concluded his keynote.