The production studio purchase is the first of its kind for Netflix.
Netflix says the purchase will bring $1 billion in production to New Mexico over the next decade, while creating up to 1,000 jobs per year. State and local officials will also commit as much as $14.5 million in funding for the project. Both the city’s mayor and the governor of New Mexico hailed Netflix’s move as an economic win for Albuquerque.
Further details about the sale were not disclosed in a news release Monday.
Netflix ( NFLX) has been growing rapidly. The company reported during its last earnings quarter that it now has about 130 million customers worldwide.
It’s also spending a lot to produce its own original shows and movies — around $8 billion this year alone.
