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Both Ted Sarandos and Greg Peters had base salaries of $3 million, plus millions in stock awards.
By Caitlin Huston, Georg Szalai
Netflix co-CEO Ted Sarandos saw his total pay package rise to $61.9 million in 2024, while co-CEO Greg Peters brought in $60.3 million.
The pay package for Sarandos included a base salary of $3 million, unchanged from the prior year, as well as stock awards of $42.7 million, in addition to a $12 million bonus.Last year, his total pay package was $49.8 million, as no stock awards were granted to him in 2023 (or in 2022).
The pay package for Peters also included a base salary of $3 million, up slightly from $2.89 million the prior year, as well as a $12 million bonus and $42.7 million in stock awards. His total pay package was up from $40.1 million in 2023, as he also did not receive stock awards at that time.
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The slight difference in salaries came as Sarandos earned slightly more in options awards and had a slightly higher value under “other compensation,” which includes use of the corporate aircrafact.
The stock awards totals reflect the grant date fair value of restricted stock units and performance share units.
Netflix overhauled the way it pays its top executives in December 2023 after shareholders rejected its CEO pay earlier that year.
The streaming giant has earned mostly positive reviews from Wall Street analysts during 2024 thanks to subscriber growth helped by its crackdown on password-sharing as well as the rollout of its cheaper advertising-supported subscription tier. Netflix shares have been flying high for most of 2024. Most experts had headed into the company’s third-quarter earnings report with abullish mindset despite some warningsthat the company’s increased market value may require some patience before a further stock run-up. But the stock continued to perform well.
In the fourth quarter of 2024, Netflix’s content slate included the likes ofSquid Gameseason 2, the Jake Paul/Mike Tyson fight, and two NFL games on Christmas Day. That led Netflix to forecast paid net subscriber additions to be higher in the fourth than in the third quarter.
More to come.
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