Netflix has launched a $100 million fund to help actors and production crews endure the hit to paychecks caused by the coronavirus pandemic.
Netflix chief content officer Ted Sarandos said: “This community has supported Netflix through the good times, and we want to help them through these hard times.
Especially while governments are still figuring out what economic support they will provide.”
Netflix is in the process of figuring out details of how money from the fund will be distributed.
The video-streaming company had already committed to keep casts and crews of suspended productions on the payroll for an additional two weeks.
“Almost all television and film production has now ceased globally — leaving hundreds of thousands of crew and cast without jobs,” said Sarandos.
“These include electricians, carpenters, drivers, hair and makeup artists and more, many of whom are paid hourly wages and work on a project-to-project basis.”
About $15 million of the fund will go to organizations and non-profit groups providing emergency relief to out-of-work film crews and actors.
“What’s happening is unprecedented,” Sarandos said.
“We are only as strong as the people we work with and Netflix is fortunate to be able to help those hardest hit in our industry through this challenging time.”
Earlier, both Apple and Netflix had canceled SXSW 2020, abandoning plans for panels and premieres for highly-anticipated releases like the Beastie Boys documentary that’s coming to Apple TV+.
Amazon has also pulled out of the event as premieres.
Its debuts largely go online instead of in-person as companies try to avoid putting people in unnecessary contact.
Netflix is the latest company to pull out of SXSW 2020, canceling five film screenings and a panel for #BlackExcellence.
Screenings of five films canceled, including feature film “Uncorked.”
The four documentaries include: “A Secret Love,” “L.A. Originals,” “Mucho Mucho Amor,” “Have a Good Trip: Adventures in Psychedelics.”
The most high-profile event Netflix had planned for SXSW was a March 15 panel with Kenya Barris and Rashida Jones on their upcoming series #BlackExcellence.