Netflix Commits $100 Million to Black Communities

Netflix Commits $100 Millionto Black Communities On Tuesday, Netflix announced its plan to“directly support Black communities in the U.S.” The video streaming giant will start puttingtwo percent of its cash holdings into Blackowned or Black led financial institutions. Their initial commitment will be as muchas $100 million, but they intend to continueallocating money “on an ongoing basis.” Netflix,via statement For now, $25 million will be moved to the BlackEconomic Development Initiative, a fund that focuseson serving low and moderate-income communities. Another $10 million will go to Hope CreditUnion, where it will be used to provide financingfor an estimated 2,5000 “entrepreneurs,homebuyers and consumers of color.” Netflix,via statement