The focus on new filmmaking comes after Hollywood for a while has tried to create a better representation in the film industry, including campaigns such as #OscarsSoWhite.
Issa Rae is one of those who will work with the venture as producer for "Set it off", and basketball star LeBron James is expected to be a producer for "House party", writes The Guardian.
But everyone is not happy with the investment.
- I do not want to see new films. There are enough original ideas that haven't been told before. I want to see those stories, says Danielle Scruggs, who runs the Black Women Directors, a digital catalog of films directed by black women.