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Netflix Co-CEOs Sarandos and Peters Earn Over $60 Million Each in 2024

The latest proxy filings reveal significant pay increases for Netflix's top executives, highlighting a revamped compensation model tied to performance and equity.

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Netflix Co-CEOs Ted Sarandos, Greg Peters See 2024 Pay Jump, Each Tops $60 Million

Overview

  • Ted Sarandos earned $61.9 million in 2024, a 24% increase from 2023, while Greg Peters earned $60.3 million, a 50.2% rise.
  • The co-CEOs' compensation included $3 million base salaries, $12 million cash bonuses, and $42.7 million in stock awards each.
  • Founder Reed Hastings transitioned to a non-executive director role with reduced compensation of $1.7 million, down from $11.3 million in 2023.
  • Chief financial officer Spencer Neumann and chief legal officer David Hyman saw their pay increase to $22.9 million and $17.2 million, respectively.
  • The co-CEOs' pay packages surpassed Warner Bros. Discovery CEO David Zaslav’s $52 million, reflecting Netflix’s competitive positioning in executive compensation.