Netflix sets up USD 100 million relief fund amid Coronavirus outbreak

Coronavirus or COVID-19 has led to a shutdown on production and filming of several projects. The closedown is affecting the daily wages workers the most as their source of income has been abandoned. Netflix has now come up with a USD 100 million scheme for their workers. Read on to know more.

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Netflix sets up USD 100 million relief fund

Netflix has come up with a USD 100 million relief fund for their workers worldwide in their community who are affected by coronavirus pandemic. Ted Sarandos, Netflix’s chief creative officer said in a statement that this community has supported Netflix through their good times. Now they want to help them through these hard times, especially while governments are still figuring out what economic support they will provide.

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Ted Sarandos said that the majority of the fund will support crews who are badly affected. It will go to Netflix’s own production people around the globe. He said that they will increase the two weeks of pay to which the company already agreed to give the cast and crew on suspended productions.

Sarandos stated that carpenters, drivers and electricians, who are broadly paid hourly wages and work on a project-to-project basis, are among the hundreds of thousands in the entertainment industry without jobs.

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In order to support the broader film and television industry, USD 15 million of the Netflix relief fund will be given to third parties and non-profits providing emergency relief to out-of-work crew and cast in the countries where they have a large production base. In the United States of America, Netflix will contribute USD 1 million each to the Motion Picture and Television Fund, the Actors Fund Emergency Assistance in the United States and SAG-AFTRA Covid-19 Disaster Fund.

In Canada, the streaming platform will donate USD 1 million among the Fondation des Artistes and the AFC, formerly known as the Actors' Fund of Canada.

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In other places including Asia, Europe and Latin America, Netflix will coordinate with several industry organization. Ted Sarandos said that they will create similar relief funds in other places. He stated that the announcement for the same is planned for next week. Sarandos added that “what’s happening is unprecedented,” and they are only as strong as the people they work with. He stated that Netflix is fortunate to be able to support those who are suffering the most in their industry in this challenging time.