Netflix CEO Ted Sarandos explained that despite movie theaters being 'very special' it's good there are other ways to view films.

Netflix CEO Ted Sarandos, from left, SAG-AFTRA President Fran Drescher, and SAG-AFTRA National Executive Director Duncan Crabtree-Ireland arrive at the 31st annual Screen Actors Guild Awards on Sunday,

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

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.

Ted Sarandos sympathizes with directors who long dreamed their movies would end up on the big screen only to land on streaming as the business continues to shift away from movie theaters. While talking with Tom Papa and Fortune Feimster on SiriusXM's "What a Joke" podcast,

"This country holds a special place in Netflix's own history," co-CEO Ted Sarandos said during a press conference in Mexico City, referencing ‘Club de Cuervos.' "We created it in Mexico for Mexico - and it paved the way for our programming strategy,

For one, there's been talk of whether the traditional sitcom is dead. Some producers are willing to leave it in the past and confined to reruns. However, Netflix co-CEO Ted Sarandos wants to keep the genre going,

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 co-CEO Ted Sarandos sympathizes with film directors who might have dreamed of seeing their movie on the big screen.

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