Netflix moves from its Los Angeles offices to Mexico City

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The company reported that it will move creatives from its Los Angeles offices to Mexico City, where the country will serve as Netflix’s regional headquarters.

Netflix will be based regionally in Mexico City, where the company seeks to be closer to the creative community of the country and the region, according to a spokeswoman for the streaming firm.

“Since its launch in Latin America in 2011, consumers across the region have welcomed Netflix. After opening an office in Mexico in 2019, we are excited to share that we have chosen Mexico City as our headquarters for Latin America. With Mexico City as our base, we will be even closer to the creative community and members throughout the region, as we continue to invest in the best content that our members love so much, both in Latin America and in the rest the world. “

The investment that had been announced last year, which amounts to 200 million dollars, will be used for the production of 50 productions and co-productions of original content, however the details on how many of these productions are ready is still a mystery. What the company did share is that the office will be located within Mexico City and if you are looking for a job option, you can directly enter the brand’s talent league.

In fact, since 2015 to date, Netflix has hired approximately 100,000 people, including cast, crew and extras, a figure that could increase with the arrival of this office.

Regarding whether this opening implies the closure of the office that Netflix has in Brazil, the Netflix spokesperson indicated: No, our teams from Brazil and South Latin America (Chile, Argentina) will continue to be based in our Alphaville office. All our teams except for Brazil and southern Latin America will be based in this office, including content, marketing, communication and advertising, among others. We do not have exact numbers of how many employees will be the ones to move  Netflix spokeswoman

The move will begin sometime in the summer, however there is no exact date.

The firm reported that it added 8.8 million new users in international markets while in the local US market it shortened its user base and only managed to add 550,000 new users in that market, a decrease compared to the 1.75 million new subscribers it registered in the same period, but 2018.

As for the firm’s revenues, these remained in line with expectations. They managed to add 5.470 million dollars, an increase of 30% from the 4.187 million dollars that were registered in the same period of 2018. According to the company’s financial guide for 2020, Netflix estimates to achieve a margin of 16% per year, thanks to the growth it is having in regions such as Latin America.

“At the end of 2019 we had 31 million members in Latin America. The fourth quarter of 2019 was a record period in terms of the addition of new subscribers in this region, where 2 million were added ”, the Netflix spokesperson told Expansión.

Source: expansion.mx

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