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 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,

Netflix is doubling down on its investment on Mexico, pledging $1 billion over the next four years. The move, which was unveiled during a Thursday press conference with co-CEO Ted Sarandos and Mexican President Claudia Sheinbaum,

The chief executive of streaming giant Netflix on Thursday announced a $1 billion investment to produce some 20 films and TV series in Mexico annually over the next four years.

Alleged drug cartel boss Rafael Caro Quintero, who spent decades in prison in Mexico for the murder of a U.S. drug enforcement agent, pleaded not guilty in a U.S. court on Friday to drug trafficking charges that could result in his execution.

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

Netflix has pledged to spend a whopping $1B on Mexican production over the next four years. The streamer’s Co-CEO, Ted Sarandos, spoke at President Sheinbaum’s morning press conference, Thursday, and unveiled the bumper commitment to Mexican production.

Among those extradited is Rafael Caro Quintero, who was convicted of the 1985 torture and murder of U.S. Drug Enforcement Administration agent Enrique "Kiki" Camarena. Camarena joined the DEA in 1974, the year after its founding.

The US streaming service presents an investment plan for the next four years. Mexico's president points out the economic importance.

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

Netflix CEO Ted Sarandos said that the company's goals are to produce more films and series and strengthen Mexico's film industry.

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