Mega streaming service Netflix is sticking to its initiative to commit “to racial equality”. The company has pledged to invest $100 million into Black businesses and communities.
“Going forward, Netflix is going to allocate two percent of our cash holdings- initially up to $100 million- into financial institutions and organizations and organizations that directly support Black communities in the U.S.”, stated Aaron Mitchell, director of talent and acquisition.
They also stated that they plan to contribute $10 Million into the Hope Credit Union to help boost “economic opportunity” in deep southern Black areas.
“This capital will fuel social mobility and opportunity in the low and moderate income communities these groups serve. We plan to redirect even more of our cash to Black-led and focused institutions as we grow, and we hope others will do the same, the company added.
