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Netflix CEO Reed Hastings’ Pay Rises 48% in 2018 to $36.1 Million

The Wrap Tuesday, 23 April 2019 ()
Netflix CEO Reed Hastings saw his pay jump 48% in 2018 to $36.1 million, according to the company’s SEC filing released Tuesday.

Hastings’ salary, largely in the form of stock options, was up from the $24.4 million in 2017. His salary actually decreased to $700,000 in 2018, but he received a whopping $35.4 million in stock options.

Chief content officer Ted Sarandos, meanwhile, saw his pay rise 32% to $29.6 million in 2018. Sarandos’ compensation was more evenly spread, with $12 million in salary and $17.6 million in stock options.

*Also Read:* Netflix's 'Competitive Moat': Can Streaming Giant Spend Rivals Like Disney and Apple Into Oblivion?

With several new competitors set to debut later this year, Netflix continued to tighten its stranglehold on the streaming world last week, with the company reporting it added a record 9.6 million subscribers during the first quarter of 2019.

The nearly 10 million new customers put the company on the verge of hitting 150 million paid subscribers overall, while beating analyst estimates of 8.9 million new customers at the same time. Most of Netflix’s new viewers came from outside the U.S., with 7.9 million international subscribers signing up.

Netflix reported $4.5 billion in revenue, matching analyst estimates, and posted earnings of 76 cents per share, easily running past Wall Street projections of 58 cents per share.

This was the first quarter since Netflix hiked prices on U.S. subscribers in January, with its most expensive package now running at $15.99 per month.

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News video: Netflix CEO Reed Hastings Made Over $36 Million

Netflix CEO Reed Hastings Made Over $36 Million 00:45

Netflix and its CEO had a good year in 2018, with total compensation for $36.1 million in 2018 from $24.4 million in 2017. The streaming leader also said that it plans to borrow another $2 billion by selling notes. The proceeds from the borrowing will be used for general corporate purposes, which...

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