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Netflix launch - Red Carpet Arrivals

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Netflix was founded all the way back in 1997, with Reed Hastings as its CEO. This year, longtime Chief Content Officer Ted Sarandos was made co-CEO of the company and he and his partner-in-streaming are making bank.

According to The Hollywood Reporter, next year will be no different, as the site reports: “Netflix co-CEOs Reed Hastings and Ted Sarandos will see their 2021 compensation stay unchanged from 2020. The executives are expected to earn $34,650,000 each next year, according to a regulatory filing that was published on December 28. Hastings’ pay is made up of $34 million in stock options and $650,000 in base salary, while Sarandos will take a $20 million base salary and $14,650,000 in stock options.This will be the first full year that Sarandos will serve as a co-CEO alongside Netflix founder Hastings. The chief content officer was upped to the role over the summer.”

As we’ve witnessed throughout the COVID-19 pandemic, consumers relied heavily on streaming for entertainment. THR continues: “Netflix, which has 197 million subscribers, has seen its stock buoyed this year amid the global pandemic as it benefits from the continued shift to streaming. Shares are up over 63 percent for the year.”

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Click here for THR’s full report, which also details the earnings of Netflix’s CFO, Chief Product Officer, and Chief Legal Officer.

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