TORONTO -- Digital streaming giant Netflix has announced it will open its first Canadian corporate office in Toronto.
In a news release issued Tuesday, the city of Toronto said the media platform delivered the news to Mayor John Tory during a virtual meeting. He praised the decision as the city grapples with the third wave of the COVID-19 pandemic.
“In very difficult times, this is the kind of news that gives people in the city, and gives the city as a whole, hope,” Tory said Tuesday afternoon.
Toronto is already home to one of Netflix’s production hubs, including two facilities at Pinewood Toronto Studios and Cinespace Studios, where crews worked on shows like "Jupiter's Legacy," "The Umbrella Academy" and "The Queen's Gambit."
Tory says the California-based company spends over $200 million a year on television shows in Toronto and employs thousands of people across the city.
Netflix Co-CEO and Chief Content Officer Ted Sarandos said in a news release that the move will help to grow the company’s business across Canada.
“We’re excited that Toronto will be our first local office. We’re looking forward to opening our doors and building on the great work we’ve started with our creative partners to bring more Canadian artists and stories to the world," he said.
Tory went on to say that since 2017, the company has invested $2.5 billion in productions that take place in the city and that it remains committed to working with Canadian creators to bring stories from Canada to the world.
