By 2023, Netflix is still the biggest streaming giant. The past year was bumpy, as the number of subscribers dropped significantly last spring, but the success of hits such as Weird things Season 4 over the summer and Wednesday In the last quarter he helped drive the rebound again. Reflecting this, the company’s top executives will earn very good compensation in the next 12 months, as a trade report revealed a pair of eight-figure pay packages.
diverse It contains details of the contracts that are in effect between Ted Sarandos and Reed Hastings co-CEOs of Netflix for next year, both wealthy men poised to make a lot of money. In Sarandos’ case, the CEO would see his base salary shrink by $17 million — from $20 million to $3 million — but he would be eligible to earn $17 million in performance bonus. He will also receive $20 million in stock options, which means he could be looking for potential compensation of $40 million for his work in 2023.
In addition to being the co-CEO, Ted Sarandos is also the chief content officer for the streaming service.
Netflix co-CEO and Chairman Reed Hastings will have a base salary of $650,000 and will receive $34 million in stock options.
The deals come as a result of a new SEC filing obtained by Commerce that says a $3 million salary cap has been put in place for joint CEOS while a performance-based cash bonus program has been set up for the first time since calendar year 2018.
The company had an interesting year not only because Roller coaster subscriber numbers In the first half of 2022, but due to the launch of a new Netflix subscription tier this fall – specifically one that allows users to subscribe to ads for a reduced monthly cost. Netflix’s “Basic with Ads” plan costs $6.99 per month, while other options on offer range from $9.99 (which offers 720p streaming content) to $19.99 (which offers subscribers 4K-equipped devices to watch movies and shows in UHD and HDR).
It’s one of several changes we’ve seen come to Netflix. It was announced last November that the streaming service is teaming up with Chris Rock to bring a live special – a first for the platform. No date has been officially set for the event.
between Netflix (Opens in a new tab)Amazon Prime Video, Disney+, Apple TV+, HBO Max, Peacock, Paramount+, the streaming world is getting a little wild now, and we’ll have to see what kind of innovation the competition finally inspires. One that’s for sure: Ted Sarandos and Reed Hastings make a lot of money trying to keep their company on top of the heap.