Netflix launches $100M fund for outreach to minority communities who wish to work in entertainment
The Netflix Fund for Creative Equity aims to provide funding to internal initiatives over a five-year span.
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Netflix said Friday that it is creating a $100 million global fund to increase outreach to members of underrepresented communities who want to work in the entertainment industry.
The Netflix Fund for Creative Equity is a five-year project, according to a company press release. The focus of the project will be on training and job placement for upcoming talent.
"Doing better means establishing even more opportunities for people from underrepresented communities to have their voices heard, and purposefully closing capacity and skill gaps with training programs where they are needed," Ted Sarandos, Netflix co-chief executive and chief content officer, said in the release.
Netflix has yet to announce which companies will be partners in the global effort but said the streaming content service has "a strong track record of setting underrepresented communities up for success in the TV and film industries."
Netflix has previously worked with nonprofit organizations Project Involve and Ghetto Film School, which provide mentoring and fellowship programs for black entertainers. It has also partnered with the Los Angeles Latino International Film Festival’s Latinx Inclusion Fellowship Series and created a Canadian mentorship program, imagineNATIVE, aiming to support filmmakers from a variety of backgrounds.
"We are still in the early stages of a major change in storytelling – where great stories can truly come from anywhere, be created by anyone, whatever their background, and be loved everywhere," Netflix also stated in the press release. "We hope to stimulate change not just at Netflix but across our industry more broadly."
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