Netflix chief Reed Hastings is being handsomely rewarded for calling the shots at the streaming giant.
His compensation package, which is largely in the form of stock options, climbed 48% in 2018 to $36.1 million. That’s up from $24.4 million in the previous year. Hastings’ salary is a relatively modest $700,000, but his stock options are valued at a whooping $35.4 million, according to public filings.
Although Hastings is amply compensated for his work, it pales in comparison to what some media executives earn. Discovery chief David Zaslav enjoyed a compensation package valued at $129.5 million in 2018, while Disney head Bob Iger’s compensation package was valued at $65.6 million.
Netflix Chief Content Officer Ted Sarandos, the executive behind “Stranger Things,” “The Crown,” and other programming also saw his compensation package increase in value. His total haul climbed 32% to $29.6 million. Sarandos’ take-home pay is much higher than Hastings’, topping out at $12 million in salary. He also earned $17.6 million in options, as well as just over $32,000 in “other compensation.”
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The public filings also reveal that Chief Marketing Officer Kelly Bennett’s total compensation came out to $6.4 million in salary and options, Chief Product Officer Greg Peters’ total compensation amounted to $14.8 million, and Chief Financial Officer David Wells’ compensation was valued at $5.8 million. Wells left Netflix in January and Bennett announced in March that he intends to resign as soon as the company finds a replacement.