Netflix Fulfills Its Pledge To Donate $100M To Black Owned-Banks
Photo Credit: Netflix

Netflix Fulfills Its Pledge To Donate $100M To Black Owned-Banks

Netflix has fulfilled its pledge to move two percent of its cash holdings (around $100 million) — into Black banks and other Black-led financial institutions in the U.S.

In a blog post, Aaron Mitchell, Director, Human Resources at Netflix Animation Studios and Shannon Alwyn, Netflix Treasurer, state:

“More capital moving into these institutions means more home and small-business loans, resulting in more opportunities for Black communities. And because we pegged our commitment to 2% of Netflix’s cash, the investment also grows overtime. So we will be ‘topping up’ our commitment at the end of the year and moving more cash — over and above the $100 million already committed — into these institutions.”

The streaming giant has also set the new web series “Banking On Us,” highlighting those who have benefitted from the investment. The first episode, “Investing in the Black Community,” dropped Wednesday on YouTube. Episode 2 on business ownership will premiere Dec. 8 and episode 3 on home ownership will premiere Dec. 15.

Watch below and check out the blog post here:

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