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Netflix Publishes Diversity Study, Commits $100M To Diversity Representation

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Netflix Publishes Diversity Study, Commits $100M To Diversity Representation
  • Netflix Inc (NASDAQ: NFLXpublished a first-of-its-kind diversity study Friday that concluded the existence of gaps despite improvement in representation from 2018 and 2019.
  • The company has conceived Netflix Fund for Creative Equity to invest $100 million over the next five years in organizations that trained and helped underrepresented communities secure jobs in TV and film.
  • Netflix also planned to disclose updates on this study every two years through 2026.
  • The study was conducted, at Netflix’s request, by USC Annenberg Inclusion Initiative director Stacy Smith. The USC Annenberg Inclusion Initiative produces regular reports on diversity in film and television. Smith’s team scrutinized every movie and series of Netflix between 2018 and 2019. Out of the 22 inclusion indicators, including racial identities, LGBTQ+, and disabilities, 19 exhibited improvement over the two years.
  • The study observed gender equality in leading roles across films and TV series. Netflix has outpaced the industry in hiring women and people of color as directors, as per the study. Netflix was also noted to exceed the proportional representation of Black leads and main cast.
  • However, the report detected an underrepresentation of other racial and ethnic groups compared to the U.S. population. The study also observed rare LGBTQ+ characters and disabled lead actors in films and series.
  • Netflix co-CEO Reed Hastings and his wife donated $120 million to historically Black colleges and universities in June.
  • Price action: NFLX stock was up 0.22% at $547.91 on the last check Friday.
 

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