Through the initiative, the company will offer funding and guidance to young Black entrepreneurs in Britain working to build their business. The benefits include a network of mentors and community organizations to advise and assist new enterprises through direct financial support.
The production and distribution company will be part of FL Entertainment, which with this agreement happens to have an enterprise value of €7.2 billion ($7.6 billion), or €4.1 billion ($4.3 billion) in equity value.
The streamer has entered a collaboration with the Arab Fund for Arts and Culture to donate a one-time grant of $250,000 to women producers and directors in the Arab world through the Netflix Fund for Creative Equity.