Netflix launches $100 mn fund to help actors, crews thrown out of work amid coronavirus

 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 Silicon Valley-based company had already committed to keeping 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 in countries where it has a large production base.

"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."