Netflix sets up $100m fund to help actors, crews thrown out of work
The fund will try and compensate all creatives for the freeze resulting from the coronavirus pandemicEuropost
Streaming television giant Netflix on Friday established a $100m fund to help suspended actors and production crews endure the hit to paychecks caused by the coronavirus pandemic. As stated by company's chief content officer Ted Sarandos, the fund is meant to help offset hardship in the "creative community," with most of the money going to financially troubled workers on Netflix productions around the world.
"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 said in an online post.
Netflix is in the process of figuring out details of how money from the fund will be distributed. The Silicon Valley-based company had already committed to keeping casts and crews of suspended productions on the payroll for an additional two weeks.
"Almost all television and film production has now ceased globally - leaving hundreds of thousands of crew and cast without jobs," said 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 $15m of the fund will go to organisations and non-profit groups providing emergency relief to out-of-work film crews and actors in countries where it has a large production base. In particular, the streaming service is planning to donate $1m each to SAG-AFTRA, the Motion Picture and Television Fund, and the Actors Fund Emergency Assistance.
Netflix is the first major entertainment brand to pledge broad monetary support for its workers during the crisis.