Netflix co-CEO Ted Sarandos announced that the streaming service will invest more than €1 billion (US$1.14 billion) in Spain from 2025 to 2028.

This announcement occurred during the company’s 10th anniversary event in Spain, held at its production hub in Tres Cantos, Madrid.

The Tres Cantos facility, which opened in 2019, is Netflix’s largest filming site in the European Union.

The event featured attendees including President of the Spanish government Pedro Sánchez and Minister for digital transformation and public service Óscar López.

Netflix’s announcement reflects its commitment to Spain as a center for production and storytelling.

🔗 Source: Netflix

🧠 Food for thought

1️⃣ Spain’s emergence as Europe’s content powerhouse

Netflix’s billion-euro investment builds upon Spain’s remarkable rise in the global streaming landscape over the past decade.

When Netflix first entered Spain in 2015, the country wasn’t considered a major production hub, but by 2019, Netflix had already established its first European production center in Madrid 1.

This latest investment continues a strategic pattern, as Spain now produces Netflix’s most viewed non-English language content globally, outperforming other major European markets 2.

The Tres Cantos facility has evolved from having just three soundstages in 2019 to becoming Netflix’s largest EU production hub with ten advanced stages and post-production facilities 3.

Spanish series have consistently broken through internationally, with “Elite” becoming Netflix’s longest-running international series ever, and “Money Heist” turning elements like Dali masks and red jumpsuits into globally recognized cultural symbols 4.

2️⃣ Local authenticity driving global appeal

The success of Spanish content demonstrates how Netflix’s investment in cultural authenticity creates global appeal rather than diluting local storytelling.

Spanish titles generated over 5 billion viewing hours on Netflix last year alone, showing that authentically local stories can achieve massive international viewership 4.