Streaming tv large Netflix on Friday launched a $100 million fund to assist actors and manufacturing crews endure the hit to paychecks brought on by the coronavirus pandemic.
The fund is supposed to assist offset hardship within the “creative community,” with a lot of the cash going to financially troubled staff on Netflix productions world wide, in line with Netflix chief content material officer Ted Sarandos.
“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,” Sarandos mentioned in a web based publish.
Netflix is within the means of determining particulars of how cash from the fund might be distributed.
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The Silicon Valley-based firm had already dedicated to retaining casts and crews of suspended productions on the payroll for an extra two weeks.
“Almost all television and film production has now ceased globally — leaving hundreds of thousands of crew and cast without jobs,” mentioned Sarandos.
“These include electricians, carpenters, drivers, hair and makeup artists and more, many of whom are paid hourly wages and work on a project-to-project basis.”
About $15 million of the fund will go to organizations and non-profit teams offering emergency reduction to out-of-work movie crews and actors in nations the place it has a big manufacturing base.
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“What’s happening is unprecedented,” Sarandos mentioned.
“We are only as strong as the people we work with and Netflix is fortunate to be able to help those hardest hit in our industry through this challenging time.”
The transfer comes amid “shelter in place” orders in California and lots of different areas, and the closing of many enterprise operations that might lead to a surge in joblessness.