Netflix CEO Reed Hastings, Content Chief Ted Sarandos To Get Pay Bumps In 2020

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Netflix CEO Reed Hastings will see his total compensation rise 10% to just shy of $34.7 million in 2020, the company disclosed Monday in an SEC filing.

The streaming giant annually provides a look ahead at its executive compensation just before the end of December. In 2018, Hastings earned a total of $31.5 million, most of it in stock options, which has been his longtime preferred ratio.

Chief Content Officer Ted Sarandos will earn exactly the same amount at Hastings, but via a different split. Sarandos will receive $20 million in salary and another $14.7 million in stock options.

It’s another bump up for Sarandos, who collected $31.5 in total compensation this year.

CFO Spencer Neumann, who replaced David Wells earlier this year, is slated to get a base salary of $6.05 million, with another $5.5 million in stock options. Wells was on track to receive $6.3 million in salary and options.

Chief Product Officer Greg Peters will get $12 million in salary and another $6.9 million in options, which is a step up from the $16.9 million he got in 2019.

Netflix stock has had a bumpy ride in 2019, though it is ending the year in a slightly profitable position compared with where it started. It closed Monday’s trading day at $333.10. Shares ran up through the summer, but cooled off significantly after Netflix reported a significant miss of second-quarter subscriber targets and rivals approached the starting line with their own streaming services. Disney in particular has captivated Wall Street, coming out of the gate strong with Disney+. Apple launched Apple TV+ and WarnerMedia and NBCUniversal will join the race in the new year.

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