Netflix said Thursday that it would spend $1 billion over four years producing films and series in Mexico, in a boost to the government's efforts to attract investment in the

CEO Ted Sarandos made the announcement during a press conference alongside Mexican President Claudia Sheinbaum.

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 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.

Netflix pledges $1 billion investment in Mexican productions. The investment aims to create jobs and support local talent. Get two weeks of free access to pro-level trading tools, including news alerts,

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

Inspired by real events, the Netflix series focuses on the trajectory of the Brazilian national team during the 1970 World Cup in Mexico