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Netflix, IDB to promote the growth of C’bean region’s entertainment industry

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Production company Netflix Inc has joined the Inter-American Development Bank’s (IDB) 21st Century Skills Coalition in Latin America and the Caribbean to leverage its expertise to help address skills shortages in the region’s entertainment industry and to develop new opportunities to improve education and increase job creation and growth.

“This partnership with Netflix will help the region’s youth press play on new opportunities”

— Inter-American Development Bank President Mauricio Claver-Carone

The 21st Century Skills Coalition is a multi-sector partnership that supports a new generation of education and training policies in the IDB’s 26 borrowing member countries. Bringing together the public and private sectors, the coalition’s work supports the development of transversal skills that are critical for success in the rapidly changing 21st-century labour market.

According to the IDB, Netflix will be sharing its broad experience and expertise with the institution to generate knowledge and better identify the competencies required to boost the region’s creative industries, or ‘orange economy’. To this end, the organisations will also support development of skills in film and entertainment.

“This partnership with Netflix will help the region’s youth press play on new opportunities. Together, we can leverage Latin America and the Caribbean’s creative talent and potential, giving workers 21st-century skills and tools to thrive, and giving local economies a jump-start,” said IDB President Mauricio Claver-Carone.

Mauricio-Claver-Carone, president, Inter-American Development Bank (File photo)

He added, “In supporting job creation, small businesses and digital skills development, this collaboration furthers the fundamental goals of Vision 2025, our blueprint for post-pandemic economic recovery and growth.”

Launched in October 2019, IDB’s 21st Century Skills Coalition now counts 45 public and private sector partners, with the addition of Netflix.

The bank added that a forthcoming IDB-Netflix study, ‘Behind the Camera: Creativity and Investment for Latin America and the Caribbean’ will highlight the challenges and untapped opportunities available to take this and related industries to the next level.

Inter-American Development Bank (Photo: Devex)

It further noted that in 2019, approximately US$5.7 billion was invested in audio-visual production in Latin America and the Caribbean, driving the creation of more than 1.6 million direct and indirect jobs.