Netflix Booming, Establishes $100 Million Relief Fund

Support for Film and Television Content Workers
Ted Sarandos: "Now It's Our Turn to Help"

[Image source=Yonhap News]

[Asia Economy Reporter Jonggil Lee] Netflix has pledged approximately $100 million (about 124.5 billion KRW) to help content production workers struggling due to the spread of the novel coronavirus disease (COVID-19). According to major U.S. media on the 20th (local time), Netflix has established a $100 million relief fund to support film and television content workers worldwide. Ted Sarandos, Chief Content Officer, stated, "We created this fund to help an industry in distress," adding, "The film and television industries have supported Netflix for a long time. Now it is our turn to support them."

The relief fund is expected to go to workers at production companies that have provided content to Netflix. Netflix also donated $15 million (about 1.86 billion KRW) to nonprofit relief funds supporting entertainment industry workers worldwide. Recipients include the U.S. Actors and Broadcasters Union, the U.S. Film and Television Fund, the U.S. Actors Emergency Relief Fund, and the Canadian Actors Fund. Similar support measures are planned for Europe, Asia, and South America.

This donation reflects recent changes in the industry landscape due to the COVID-19 crisis. As COVID-19 has spread globally, Hollywood and major broadcasters have delayed the release of new films or halted content production. In contrast, Netflix is experiencing an unexpected boom as countries restrict group gatherings and activities.

This content was produced with the assistance of AI translation services.