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Netflix Pledges $100M To Assist Film, Television & Music Industries

Netflix Pledges $100M To Assist Film, Television & Music Industries

Netflix is putting up $100 million to help on-set professionals who are out of work because of the coronavirus, offering assistance to the film, television and music industries.

The streaming giant announced the fund is to “help with hardship in the creative community.” The majority of funding will go toward the production teams and crews involved in now-halted projects. Netflix has been forced to shut down all production internationally in keeping with government-mandated lockdowns and social distancing.

The financial aid will be worked out on a per-project basis and provided “in addition to the two weeks pay (they’ve) already committed to the crew and cast on productions.”

Relief will also be extended to the greater film and television industries — $15 million has been pledged to non-profits and third-party organizations including the SAG-AFTRA Foundation Covid-19 Disaster Fund, Motion Picture and Television Fund and Actors Fund.

Netflix Pledges $100M To Assist Film, Television & Music Industries

Coachella Confirms Postponement Due To Coronavirus Outbreak

Support for the entertainment and music industries – currently suffering their worst ever financial hit – has been widespread. On Monday (March 30), Universal Music Group announced several initiatives to assist its artists and the music industry, including interest-free royalty advances and donations to The Recording Academy’s MusiCares’ COVID-19 Relief Fund and other music-related charities.

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Last Wednesday (March 25), the U.S. senate passed a $2.2 trillion stimulus package to aid the ailing economy. The bill includes increased unemployment benefits – for part-time and self-employed individuals as well – which would assist musicians currently unable to play gigs or go on tour.

Artists, producers and DJs have been turning to Instagram Live during the quarantine, providing free shows and beat-battles for entertainment.