How Much Do Netflix Executives Make? Significant Pay Raise Announced For CEO

Netflix (NFLX) announced the annual pay of its top executives on Friday. The streaming company has seen significant growth in 2018, and the pay raises for its executives are reflective of the stellar year it had.

CEO Reed Hastings is due to receive a salary that is as much as $31.5 million with stock options in 2019, Netflix disclosed. Ted Sarandos, chief content officer at Netflix, will also receive as much as $31.5 million and stock options going into 2019, according to the company.

Hastings, however, will be compensated with more equity in Netflix with a base salary of $700,000, Netflix reported. Sarandos will take home $18 million as a salary, as disclosed by the company.

This marks the first year that the company’s top two executives will make the same amount, showing a significant value of Sarandos’ contribution to Netflix’s programming, CNN reported.

Hastings’ salary rose 7 percent over 2018 while Sarandos’ pay was bumped up 20 percent, according to the outlet.

Others at the company also received significant pay raises including David Wells, chief financial officer, Greg Peters, chief product officer, and David Hyman, general counsel and secretary, according to Netflix.

Netflix has experienced significant growth in 2018, with reported earnings last quarter placing it at about 137 million customers worldwide, according to CNN. The company spent $8 billion on producing original content for the streaming service platform in 2018 and also bought ABQ Studios in 2018.

As of this afternoon, Netflix stock was up approximately 0.10 percent.