Netflix: Account sharing is a 'positive thing'

Of course, Netflix has also been working feverishly to develop original content which has really helped to put pressure on traditional programming networks.

Still, given Hastings' background of charter school advocacy, it will be interesting to see who ends up benefitting most from the new fund. As of now, it's not yet clear where its primary area of focus within education may be.

The first two gifts are to United Negro College Fund and to Hispanic Foundation of Silicon Valley to support college education of Black and Latino youth, totalling $1.5m.

Netflix CEO Reed Hastings has noted this week that consumers sharing their Netflix accounts was "a positive thing" for the company.

You may not be aware, but education has always been a goal of Hastings and Netflix. "Our aim is to partner with communities to significantly increase the number of students who have access to rich and holistic educational experiences", the fund writes on its website. The nonprofit played a key role in shaping the city's post-Hurricane Katrina educational system, in which more than 90 percent of children attend charter schools. He has also been the president of the California board of education from 2001 to 2005.

Hastings doesn't have quite as much money to give away as the Zuckerbergs of the world. More recently, they announced they would open a private school for underprivileged children in East Palo Alto, California, that Chan would head.