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Netflix creates $100M fund for outreach to underrepresented communities in entertainment

Netflix creates $100M fund for outreach to underrepresented communities in entertainment
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Netflix announced on Friday that it will create a $100 million global fund to increase outreach to members of underrepresented communities who want to work in entertainment.

According to a press release, the Netflix Fund for Creative Equity will provide funding to internal initiatives within the company and outside organizations over the course of five years. The internal efforts will serve to train upcoming talent and provide them with job placement.

“Doing better means establishing even more opportunities for people from underrepresented communities to have their voices heard, and purposefully closing capacity and skill gaps with training programs where they are needed,” Ted Sarandos, Netflix co-chief executive and chief content officer, said in the release.

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Netflix has not yet revealed what companies it will partner with for the fund but said that it has "a strong track record of setting underrepresented communities up for success in the TV and film industries."

In the past, the company has worked with nonprofit organizations Project Involve and Ghetto Film School, which both provide mentoring and fellowship programs for Black creators. It has also collaborated with the Los Angeles Latino International Film Festival’s Latinx Inclusion Fellowship Series and created a mentorship program in Canada called imagineNATIVE to support filmmakers from diverse backgrounds, the release states.

"We are still in the early stages of a major change in storytelling — where great stories can truly come from anywhere, be created by anyone, whatever their background, and be loved everywhere," Netflix stated in the release. "We hope to stimulate change not just at Netflix but across our industry more broadly."