Netflix Co-CEOs Ted Sarandos and Greg Peters Pay Rises Above $60 Million in 2024

Netflix co-CEOs Ted Sarandos and Greg Peters saw a significant pay bump in 2024, with both executives’ paychecks rising above $60 million.

In 2024, Sarandos’ total compensation was $61.92 million and Peters’ pay for the year totaled to $60.27 million, according to Netflix’s proxy statement filed on Thursday.

Sarandos’ pay check for 2024 rose by 24% from 2023, when the co-CEO’s total compensation was $49.83 million, while Peters’ compensation saw a 50% uptick from 2023, when Peters’ took home $40.12 million.

Likewise, Reed Hastings, who shifts from Netflix’s executive chairman to chairman of the board and a non-executive director as of Thursday, saw a total compensation of $1.75 million in 2024, down considerably from his 2023 pay check, which saw him make $11.29 million as he transitioned from co-CEO to executive chairman.

Spencer Neumann, Netflix’s CFO, brought home $22.9 million in 2024, up from his 2023 pay check of $17 million, which remained flat from his 2022 compensation, which totaled to $17.06 million. Netflix’s chief legal officer, David Hyman, similarly made $17.26 million in 2024 after his 2023 and 2022 salaries remained relatively flat from $13.68 million and $13.25 million, respectively.

While Sarandos’ base salary remained consistent from 2023 at 3 million — down substantially from his $20 million base salary in 2022 — his 2024 compensation included $42.71 million in stock awards, $2.25 million in option awards, $12 million in non-equity incentive plan compensation and $1.96 million in other compensation.

Peters’ base salary from 2024 was also $3 million — up slightly from last year’s base salary of 2.89 million but well below his 2022 base salary of $16 million. Peters also made $42.71 million in stock awards, $1.95 million in option awards, $12 million in non-equity incentive plan compensation and $613,091 in other compensation.

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