Netflix pledges up to USD 100 million to support Black communities economically

Video streaming platform Netflix has pledged 2 per cent of its cash holdings to provide economic support to black communities.

According to The Verge, the company has planned to commit up to USD 100 million, but there are chances of the cash holdings could grow over time.

Netflix announced that the initial USD 35 million of the money will be allocated in two parts, one of which will be used to establish the "Black Economic Development Initiative," and the rest will be used to administer to Hope Credit Union.

The disbursal details of the remaining USD 65 million are yet to be announced by the company. (ANI)