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.

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

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

Over the next four years, Netflix has pledged $1 billion to develop and produce films and series in Mexico, according to Netflix c

Netflix will invest $1 billion in series and film production in Mexico over the next four years, significantly expanding the country's audiovisual industry.

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,