Netflix has announced the establishment of a $100 million relief fund for those hit hardest by the ongoing COVID-19 pandemic. The details of how the $100 million will be distributed are being discussed. Thus far, the streaming service has committed to paying staffers for the next two weeks. In addition, Netflix Chief Content Officer Ted Sarandos has offered $15 million to third party organizations and non-profits providing relief to crew who are out of work..
“This community has supported Netflix through the good times, and we want to help them through these hard times, especially while governments are still figuring out what economic support they will provide. So we’ve created a $100 million fund to help with hardship in the creative community,” Netflix writes.
“Most of the fund will go towards support for the hardest hit workers on our own productions around the world. We’re in the process of working out exactly what this means, production by production. This is in addition to the two weeks pay we’ve already committed to the crew and cast on productions we were forced to suspend last week,” Netflix adds.
Netflix stands to win big from an increasingly sedentary lifestyle. Recently, the streaming service picked up Issa Rae’s The Lovebirds after it was pulled by Paramount. In the coming weeks, the streaming service could very well become the alternative to movie theaters.