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Photo: Filip Radwanski/SOPA Images/LightRocket via Getty Images

Netflix announced on Friday the establishment of a $100 million emergency fund to provide assistance to the creative community, television and film production crews, as the novel coronavirus spreads and wreaks havoc on the global economy.

The state of play: A significant portion of the fund is dedicated to backing Netflix's own production crews around the world. The company has committed to paying its staff and casts for two weeks on already suspended productions.

  • $15 million from the fund will go to third parties and nonprofits providing emergency relief to out-of-work production teams in countries where Netflix has a large presence.
"The Covid-19 crisis is devastating for many industries, including the creative community. Almost all television and film production has now ceased globally - leaving hundreds of thousands of crew and cast without jobs. These include electricians, carpenters, drivers, hair and makeup artists and more, many of whom are paid hourly wages and work on a project-to-project basis."
— Ted Sarandos, Netflix's chief content officer 

Go deeper: The coronavirus economic pain in the U.S. has begun

Go deeper

Dan Primack, author of Pro Rata
11 mins ago - Politics & Policy

Democrats' billionaires tax explained

Illustration: Aïda Amer/Axios

There is now legislative language behind the push to tax American billionaires on unrealized capital gains, as Sen. Ron Wyden last night released his 107-page plan.

Why it matters: This would be a sea change in U.S. tax policy, which has only applied to realized gains (otherwise known as income).

57 mins ago - World

Scoop: Blinken protests Israel settlements approval in "tense" phone call

Benny Gantz (L) and Tony Blinken. Photo: Jacquelyn Martin/Pool/AFP via Getty

Secretary of State Tony Blinken protested the decision to approve 3,000 new housing units in Israeli settlements in the occupied West Bank during a tense phone call on Tuesday with Israeli Defense Minister Benny Gantz, three Israeli officials tell me.

Why it matters: This is the first time new construction in the settlements has been approved since President Biden assumed office, and the Biden administration had been privately pressing the Israeli government not to proceed.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.