Netflix Co-CEOs Ted Sarandos, Reed Hastings Enjoy Massive 2020 Pay Packages
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It was a good year to run a streaming service.
Netflix co-CEOs Reed Hastings and Ted Sarandos earned $43.2 million and $39.3 million, respectively, in 2020, representing sizable pay increases for the two men.
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Hastings, who also serves as the company’s chairman, earned $38.6 million in 2019 and $36 million in 2018. Sarandos, who helped spearhead Netflix’s big push into original content, netted $34.7 million in 2019 and $29.6 million in the previous year.
More than half of Sarandos’ compensation was in the form of his $20 million salary, while the bulk of Hastings’ pay came from $42 million in options. Hastings only drew a $650,000 salary. Sarandos also enjoyed a generous incentive package, bringing in $18.3 million in options.
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Apr 22, 2021
SAN RAMON, Calif. (AP) Netflix’s pandemic-fueled subscriber growth is slowing far faster than anticipated as people who have been cooped at home are able to get out and do other things again.
The video-streaming service added 4 million more worldwide subscribers from January through March, its smallest gain during that three-month period in four years.
The performance reported Tuesday was about 2 million fewer subscribers than both management and analysts had predicted Netflix would add during the first quarter.
It marked a huge comedown from the same time last year when Netflix added nearly 16 million subscribers. That came just as governments around the world imposed lockdowns that created a huge captive audience for the leading video-streaming service.
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Jim Cramer came to the rescue of
Netflix Inc (NASDAQ: NFLX) and urged investors to give the company the “benefit of the doubt” after disappointing first-quarter subscriber growth, CNBC reported Wednesday.
What Happened: The “Mad Money” host cited that the subscriber video on demand company’s past performance over the years as the reason for giving it a break.
“After the incredible performance this company’s given us over the years, you’ve gotta remember that doubting Netflix has been a mistake every step of the way,” Cramer said, according to CNBC.
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Pointing to Netflix CFO Spencer Neumann and his comments at the company’s earnings conference where he said “business remains healthy,” Cramer said, “To me, that says ‘please, don’t panic.’”
Netflix’s pandemic-fueled subscriber growth is slowing far faster than anticipated as people who have been cooped at home are able to get out and do other things again.