Netflix to Shift Cash to Banks Supporting Black Communities
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hollywoodreporter.comNetflix is looking to tackle systemic racism by shifting some of its cash holdings to financial institutions that support Black communities in the U.S. "As part of our commitment to racial equity, we are turning understanding into action," the streamer said on its blog on Tuesday.
Netflix has already voiced solidarity with nationwide protests over the death of George Floyd by sharing on its social accounts the "duty to our Black members, employees, creators and talent to speak up." In its latest move, Netflix said it will shift 2 percent of its cash holdings — initially up to $100 million — towards banks and organizations that directly support Black communities. "We believe bringing more capital to these communities can make a meaningful.
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