“Netflix executives will earn $40 million each in 2024” | Daily menu

The work of the co-executives’ Netflix, Ted Sarandos And Greg PetersHe will be compensated in 2024 with a total amount of $40 million, which includes his salary, bonuses and compensation in shares of the entertainment company itself.

the Streaming platform A report filed Friday with the Securities Commission (SEC) estimated Sarandos and Peters’ salaries at about $3 million each, plus… Individual reward And another $6 million and $31 million in stock compensation.

In addition, the letter details that the company has decided to eliminate this year the ability for executives to choose whether they prefer to receive the latter concept in cash or in the form of shares in the company.

“The Committee decided to eliminate this feature of the program to allay shareholder concerns that executives may choose to collect all compensation in cash,” it said.

Sarandos, who has asked to be paid in cash the last few times, will receive the same amount as he did in 2023, while Peters will get a raise compared to the total $34.65 million he earned this year.

The same applies to Reed Hastings, the co-founder of Netflix, who resigned from his position as CEO in January of this year to take over as CEO of Netflix. board of directorsis entitled to a salary of $100,000, plus bonuses and stock compensation totaling, with salary, $1 million.

The company also set the salary of CFO Spencer Newman, who will earn a total of $15 million in 2024.

Netflix It announced in October that it had reached 247.1 million subscribers during the third quarter of 2023, 10.8% higher than in the same period last year, despite significant uncertainty about the impact Hollywood strikes On the world’s number one streaming service.

The company subsequently achieved a net profit of $1,677 million and revenue of $8,542 million, representing an increase of 7.8% compared to the third quarter of 2022.