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Netflix co-CEOs Ted Sarandos and Greg Peters saw their pay packages rise to more than $60 million each in 2024.
Sarandos’ total compensation for the year was $61.9 million (up 24% from what he made in 2023), while Peters pulled $60.3 million (up 50.2%), according to a proxy statement filed by Netflix Thursday. The release was posted just as the execs were fielding analyst questions about their first-quarter 2025 earnings during a live-streamed interview.
Both Sarandos and Peters were given significant cash bonuses of $12 million for the year. They each earned a base salary of $3 million and received $42.7 million in stock awards. Sarandos was granted $2.3 million in option awards and Peters received $2 million. “Other” compensation for the co-CEOs totaled $2 million for Sarandos and $613,091.
The more than $60 million paydays for Sarandos and Peters put them ahead of Warner Bros. Discovery chief David Zaslav, who made a whopping $52 million in 2024.
Netflix founder Reed Hastings received $1.7 million for his role as executive chairman, a decrease from the $11.3 million he made in 2023, the first year after he stepped down as co-CEO. As of Thursday, Hastings is shifting to a non-executive director position as chairman of the board.
Chief financial officer Spencer Neumann’s pay was $22.9 million. Chief legal officer David Hyman’s compensation stood at $17.2 million. Both were bumps from the prior year.
More to come…
