At a time when U.S. production incentives remain fractured and fragile, Netflix’s Greg Peters is pointing across the Atlantic for inspiration.

Speaking at the Wall Street Journal’s CEO Council event in London, the Netflix co-CEO praised the UK’s production ecosystem as the model the U.S. should aspire to—citing the country’s combination of strong tax incentives, top-tier talent, and reliable infrastructure as the foundation of Netflix’s billion-pound-per-year production spend.

“We’ve invested over $1 billion a year in UK productions since 2020,” Peters told the audience. “More than 100 titles, 50,000 cast and crew. This is a thriving ecosystem that really works. And I think that’s a great example for the United States.”

While the UK now stands as Netflix’s second-largest production hub after the U.S., Peters made it clear that the disparity in federal support is holding the American model back. “In the U.S., we operate on a state-by-state basis,” he said, pointing to major Netflix infrastructure builds in places like New Jersey and New Mexico. “That works, but it’s patchwork. The UK offers consistency.”

It’s a timely endorsement. With countries like Canada and the UK continuing to refine their national incentives, and with several U.S. states—including New York, California, and Texas—ramping up efforts to attract film and TV jobs, the gap in federal support remains one of the biggest challenges to growing America’s competitiveness as a global production hub.

Meanwhile, Peters also addressed looming concerns around proposed taxes—both in the U.S. and abroad. In the UK, lawmakers have floated a 5% tax on revenue earned by U.S. streamers. “That would be a mistake,” Peters said plainly, noting Netflix’s commitment to commissioning authentic UK stories for local audiences. “These aren’t foreign projects that happen to shoot here. These are UK stories, loved by UK audiences.”

Back home, the Trump campaign’s vague but eyebrow-raising suggestion of an import tax on productions shot outside the U.S. has rattled nerves across the industry. Peters, for now, is taking a wait-and-see approach. “We try to focus on what we can control,” he said. “If a specific proposal materializes, we’ll respond.”

As Netflix continues to scale its international output while navigating domestic political and economic uncertainties, Peters hinted at the platform’s fortunate positioning—free from legacy cable baggage and aggressive in its original content investment. “We haven’t had to wrestle with the same structural issues some of our competitors face,” he said. “That’s allowed us to stay nimble.”

Asked for his most underrated Netflix series? Without hesitation, Peters plugged Dept. Q—a Scottish detective drama starring Matthew Goode—making the kind of unscripted pitch any indie filmmaker would appreciate: “Please check it out. More viewers means we’ll renew it.”