Netflix Commits $100 Million to Black Communities

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Published on Jun 30, 2020
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Netflix Commits $100 Million
to Black Communities On Tuesday, Netflix announced its plan to
“directly support Black communities in the U.S.” The video streaming giant will start putting
two percent of its cash holdings into Black
owned or Black led financial institutions. Their initial commitment will be as much
as $100 million, but they intend to continue
allocating money “on an ongoing basis.” Netflix,
via statement For now, $25 million will be moved to the Black
Economic Development Initiative, a fund that focuses
on serving low and moderate-income communities. Another $10 million will go to Hope Credit
Union, where it will be used to provide financing
for an estimated 2,5000 “entrepreneurs,
homebuyers and consumers of color.” Netflix,
via statement

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