Netflix CEO Reed Hastings’ Compensation Jumps 48% to $36.1 Million

Variety is reporting that Netflix chief Reed Hastings is being handsomely rewarded for calling the shots at the streaming giant.

His compensation package, which is largely in the form of stock options, climbed 48% in 2018 to $36.1 million. That’s up from $24.4 million in the previous year. Hastings’ salary is a relatively modest $700,000, but his stock options are valued at a whooping $35.4 million, according to public filings.

Although Hastings is amply compensated for his work, it pales in comparison to what some media executives earn. Discovery chief David Zaslav enjoyed a compensation package valued at $129.5 million in 2018, while Disney head Bob Iger’s compensation package was valued at $65.6 million.

Netflix Chief Content Officer Ted Sarandos, the executive behind “Stranger Things,” “The Crown,” and other programming also saw his compensation package increase in value. His total haul climbed 32% to $29.6 million. Sarandos’ take-home pay is much higher than Hastings’, topping out at $12 million in salary. He also earned $17.6 million in options, as well as just over $32,000 in “other compensation.”

The public filings also reveal that Chief Marketing Officer Kelly Bennett’s total compensation came out to $6.4 million in salary and options, Chief Product Officer Greg Peters’ total compensation amounted to $14.8 million, and Chief Financial Officer David Wells’ compensation was valued at $5.8 million. Wells left Netflix in January and Bennett announced in March that he intends to resign as soon as the company finds a replacement.