Netflix creates US$100 million fund

Netflix announced the creation of a US$100 million fund to help the members of its creative community who are unemployed and without income due to the coronavirus crisis in the US and they are working on similar support plans in Latin America, Europe, and Asia, where many of their productions are shot.

“The Covid-19 crisis is devastating for many industries, including the creative community. Almost all the television and film production has ceased worldwide, leaving thousands of actors and people who work in similar productions without a job” said Ted Sarandos, Content Director at Netflix, in a statement. “These include electricians, carpenters, and drivers, many of which are paid hourly salaries and work per project. This community has supported Netflix in good times and we want to help them in these difficult times, while governments are still determining what economic support to offer.”

Some 120,000 members of production teams have lost their jobs since shootings have been suspended due to the increase of infected people, said a Variety report.

Last weekend, as part of other measures the company has taken, reduced the quality of its streaming in Europe to half, amidst the audience peak they have due to the quarantine, so as not to saturate other networks due to the high data traffic.