Netflix CEO Reed Hastings Pay Package Rose 39% in 2016, to $23.2 Million

Netflix co-founder and CEO Reed Hastings saw his total compensation rise 39% last year, to $23.2 million, after an increase in stock option awards, the company disclosed in a regulatory filing Monday.

Hastings, 56, earned a baseline salary of $900,000 plus option awards totaling $22.3 million in 2016, according to the filing. In 2015, the Netflix boss streamed in a compensation package worth $16.63 million, including $15.5 million in options.

In addition, Netflix in 2016 reimbursed Hastings $358,315 for the company’s use of his airplane — leased to Netflix by him under a time-sharing agreement — for business-related travel by Hastings and other Netflix employees.

Ted Sarandos, Netflix’s chief content officer, received $18.9 million in total compensation last year, up 35% from 2015. Sarandos’ package includes a salary of $1 million, a $4 million cash bonus, and $13.9 million in stock awards. For 2017, Netflix estimated that Sarandos will be eligible for a target bonus of $9 million.

Meanwhile, the pay package for Neil Hunt — who is exiting as Netflix’s chief product officer this summer after 18 years with the company — increased 4.4%, to $8.8 million (including a $5.25 million cash bonus and $2.55 million on stock options).

Greg Peters, Netflix’s international development officer who has been named to replace Hunt, had $8.0 million in total comp for 2016 (up 43%). That included a salary of $1 million, options worth $3.87 million, a $1.5 million bonus, and $1.66 million “for living allowance and taxes paid by the company to tax-equalize the employee for an expatriate assignment.” Peters has been based in Japan since 2015, leading development efforts in Netflix’s Tokyo office.

CFO David Wells earned $6.11 million in total compensation last year, an increase of 46% from 2015. Wells’ pay package for 2016 included a salary of $2.4 million, options worth $2.15 million, and (as with Peters) $1.54 million for living expenses and taxes paid by Netflix to offset costs for work performed outside the U.S.

More Digital

  • Illustration of the video streaming company

    Netflix Insists It Won't Move Into Selling Advertising

    Netflix wants you to know: It doesn’t have any plans now or in the future to start running commercials on its streaming service. Company execs have have regularly explained that being ad-free is a core part of Netflix’s attractiveness to consumers, and the strategy has been a standard part of its “Long-Term View” mission statement [...]

  • MODEL RELEASED Hand holding iPhone with

    Netflix to Launch Lower-Priced Mobile-Only Plan in India

    Following several months of testing, Netflix is getting ready to officially launch a mobile-only plan in India. Priced significantly below its regular subscription plans, the new plan is meant to help the company better compete with local players like Hotstar. Netflix announced the step in its Q2 2019 earnings letter to investors Wednesday, writing: “We [...]

  • Always Be My Maybe

    'The Perfect Date,' 'Always Be My Maybe' Draw Big Crowds on Netflix

    Rom-coms are working for Netflix: “The Perfect Date,” a romantic comedy starring Noah Centineo from the company’s hit movie “To All The Boys I’ve Loved Before,” has been viewed by 48 million subscriber households in its first four weeks on the service, Netflix revealed Wednesday. And “Always Be My Maybe,” starring Ali Wong and Randall [...]

  • Nintendo Switch

    Nintendo Releases Updated Switch With Better Battery

    Nintendo just refreshed its wildly successful Switch game console, but the company isn’t giving existing Switch owners many reasons to upgrade: The renewed game console comes with a better battery that guarantees up to 9 hours of game play, while otherwise sticking with the same design and features of the original Switch. The new model [...]

  • Ryan Chanantry - Topic SVOD

    First Look Media's Topic Plans to Launch Subscription VOD Service (EXCLUSIVE)

    Can Topic execute a solid pivot into premium video? The digital storytelling outlet of Pierre Omidyar’s First Look Media thinks it can put together a niche Netflix-style subscription-video service curated to appeal to young “culture cravers.” Topic plans to launch the subscription VOD service in the fourth quarter of 2019, stocked with hundreds of hours [...]

  • Dan Ahdoot

    This New Podcast Lets You Take a Peek Into Celebrities' Fridges (EXCLUSIVE)

    Comedian Dan Ahdoot wants to show you a side of celebrities you haven’t seen before — which is why he is having them open up their fridges. Anyone appearing on Ahdoot’s new podcast “Green Eggs & Dan,” which was launched by the podcast network Podglomerate Wednesday, has to bring along a photo of the inside [...]

More From Our Brands

Access exclusive content