Netflix creates $100 million relief fund for COVID-19-devastated entertainment industry
(LOS ANGELES) -- It's no secret that Hollywood celebs are stuck at home with nothing to do, given their social media updates amid the COVID-19 coronavirus outbreak. But shuttered theaters and stopped productions are devastating to those working behind the scenes. Now Netflix is pitching in to help.
The streaming giant has created a massive $100 million fund to not only take care of the folks who have been working on now-stalled Netflix projects around the world, but also to provide other aid to furloughed workers sent home over COVID-19 pandemic concerns.
Netflix's Chief Content Officer Ted Sarandos said in a statement, "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."
The executive clarified that this cash infusion is in addition to the two weeks' pay they already guaranteed for casts and crews of the shuttered projects.
Sarandos added that workers outside of Netflix's productions will also benefit: "$15 million of the fund will go to third parties and non-profits providing emergency relief to out-of-work crew and cast in the countries where we have a large production base."
Hollywood has created several initiatives to help these so-called "below-the-line" workers as well as performers. Those initiatives include the SAG-AFTRA COVID-19 Disaster Fund, to which Netflix is also donating a million bucks.
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