Netflix commits $100 million to support Black communities

The online streaming service Netflix has announced that it'll 2% of the cash that it holds in reserves into organizations and financial institutions to "directly support Black communities in the U.S". Netflix will move $25 million into a newly created fund that invests in "Black financial institutions serving low and moderate-income communities and Black community development corporations in the U.S." and is called the Black Economic Development Initiative. The initial commitment will re-allocate additional $75 million.