Netflix Reveals 2023 Executive Compensation, Adjusts Pay Structure Amid Shareholder Concerns

Netflix's co-CEOs Ted Sarandos and Greg Peters received $49.8 million and $40 million respectively in 2023, as the company reshapes its compensation policy in response to shareholder feedback.

• Ted Sarandos' 2023 compensation slightly decreased from $50.3 million in 2022 to $49.8 million, while Greg Peters' pay rose significantly from $28 million in 2022 to $40 million.
• Netflix adjusted its executive compensation structure, capping base salaries at $3 million and increasing the proportion of pay in stock options following shareholder criticisms.
• Reed Hastings, the former co-CEO now serving as executive chairman, received $11.9 million, down from $51 million the previous year.
• The company reported a revenue of $9.4 billion and an operating income of $2.6 billion in the first quarter, along with 9.3 million new subscribers.
• Netflix plans to stop reporting subscriber numbers starting the first quarter of 2025, reflecting a shift in how the company shares performance metrics.

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