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Streaming giant Netflix gave its top brass a hefty pay day in 2019. Netflix founder and chief executive Reed Hastings saw his compensation jump 7 percent to $38.6 million last year, versus pay of $36.1 million in 2018, according to a regulatory filing Wednesday. Hastings’ No. 2, Ted Sarandos, the company’s chief content officer, got …
Streaming giant Netflix gave its top brass a hefty pay day in 2019.
Netflix founder and chief executive Reed Hastings saw his compensation jump 7 percent to $38.6 million last year, versus pay of $36.1 million in 2018, according to a regulatory filing Wednesday.
Hastings’ No. 2, Ted Sarandos, the company’s chief content officer, got a 17 percent bump in compensation, amounting to $34.7 million. That compared with $29.6 million a year earlier.
Hastings’ salary remained unchanged at $700,000 with the majority of his compensation increase coming from stock options awards, which amounted to $37.4 million, up from $35.4 million in 2018. The CEO’s “other compensation” totaled $465,637, up from zero. That figure was all for the “personal use of the company aircraft,” the filing said.
Meanwhile, Sarandos got a $6 million salary increase to $18 million, while his options awards declined from $17.6 million to $16.6 million. His “other” compensation rose to $98,497 from $32,251. It included $74,282 for personal use of the company airplane and $14,415 for car services.
The filing comes after Netflix turned in a banner day Tuesday, in which the streaming giant added nearly 16 million new paid subscribers in the first quarter of 2020. Aided by coronavirus quarantines that have kept millions of people housebound, Netflix saw its global user base hit 183 million.
