Netflix created a $100 million fund to help workers who are without jobs because of the global halt in TV and film production (NFLX)

Stranger Things Netflix Duffers

  • With TV and film productions being halted globally, Netflix is setting up a relief fund for crew members and other people involved in productions who are now out of work. 
  • The streaming company announced on March 20 that it created a $100 million relief fund, most of which will go to people involved in its own productions.
  • Netflix is also donating $15 million of the fund to organizations helping creative workers around the world during the coronavirus pandemic. 
  • The streaming company has suspended its scripted productions in the US and Canada for two weeks, and separately said it would pay those workers during the two-week shut down. 
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Major TV and film studios, from Disney to Netflix, have been forced to suspend productions around the world amid the threat of the coronavirus pandemic. 

Netflix, which on March 13 halted its scripted productions in the US and Canada for two weeks, is starting a relief effort to help production workers — such as crew members, electricians, and drivers — who are out of work due to the pandemic. (Netflix separately committed to paying the workers on its currently halted productions.)

The streaming company, which operates TV and film productions all over the world, set up a $100 million fund to aid production workers, it announced on March 20. 

Netflix is one of the largest producers of TV and film content globally. The company is projected to spend $17 billion in cash on content this year.

Most of Netflix’s relief fund will go toward supporting the people involved in Netflix’s own projects, the company said. It’s still in the process of figuring out how to distribute that money.

Separately, the streaming company said it would continuing paying, for two weeks, the casts and crews on the productions that were suspended last week. The company said that money will not be drawn from the new fund.

Netflix also plans to set aside $15 million of the fund to donate to organizations helping TV and film workers during the pandemic, including the SAG-AFTRA Covid-19 Disaster Fund. The company is looking for organizations in places like the US, Europe, and Asia, where it films a lot of projects.

“Almost all television and film production has now ceased globally — leaving hundreds of thousands of crew and cast without jobs,” Ted Sarandos, Netflix’s chief content officer, said in a statement announcing the fund. “What’s happening is unprecedented. 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.”

For more on how the coronavirus is affecting media, see our coverage on BI Prime: 

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