In 2023, the then-newly named Netflix co-ceo Greg Peters saw his total target compensation package grow to $40 million up from $26 million the prior year.
Co-CEO Ted Sarandos brought in $49.8 million in 2023, with a base salary of $3 million, $28 million in stock awards, an annual bonus of $16.5 million and all other compensation totaling close to $2 million, down from $50.3 million the prior year.
Sarandos’ all other compensation includes, “$13,200 representing our matching contribution made under our 401(k) plan, $55,913 for car services, $620,013 for personal use of company aircraft, and $1,295,805 in residential security costs paid to a third-party provider by the Company valued on the basis of aggregate incremental cost to the Company,” per a proxy filing.
Peters’ pay package included a base salary of $2.89 million, stock awards of $22.7 million, a bonus of $13.9 million and all other compensation totaling $620,602, which relates to use of the company aircraft.
Reed Hastings, now the company’s executive chairman who stepped...
Co-CEO Ted Sarandos brought in $49.8 million in 2023, with a base salary of $3 million, $28 million in stock awards, an annual bonus of $16.5 million and all other compensation totaling close to $2 million, down from $50.3 million the prior year.
Sarandos’ all other compensation includes, “$13,200 representing our matching contribution made under our 401(k) plan, $55,913 for car services, $620,013 for personal use of company aircraft, and $1,295,805 in residential security costs paid to a third-party provider by the Company valued on the basis of aggregate incremental cost to the Company,” per a proxy filing.
Peters’ pay package included a base salary of $2.89 million, stock awards of $22.7 million, a bonus of $13.9 million and all other compensation totaling $620,602, which relates to use of the company aircraft.
Reed Hastings, now the company’s executive chairman who stepped...
- 4/18/2024
- by Caitlin Huston
- The Hollywood Reporter - Movie News
Netflix co-ceo Ted Sarandos earned a bit less in 2023 than the year before — but he still had a pay package worth $49.8 million.
That was down from $50.3 million for Sarandos in 2022, according to Netflix’s proxy statement filed Thursday with the SEC. In 2023, Sarandos had a base salary of $3 million, $28.3 million worth of stock option awards, a $16.5 cash bonus and $1.98 million in other compensation. The Netflix board’s compensation committee approved the residential security costs “after considering the potential security concerns related to Mr. Sarandos’ service as an executive officer and believes the security costs are a necessary and appropriate business expense.”
Greg Peters, who assumed the role of co-ceo in January 2023, had a compensation package last year worth $40.1 million, a significant jump from $28.1 million in 2022. He previously had served as COO and chief product officer. Peters’ 2023 pay included $2.9 million salary, $22.7 million in stock options, a $13.9 million cash bonus and $620,602 for personal use of company aircraft.
That was down from $50.3 million for Sarandos in 2022, according to Netflix’s proxy statement filed Thursday with the SEC. In 2023, Sarandos had a base salary of $3 million, $28.3 million worth of stock option awards, a $16.5 cash bonus and $1.98 million in other compensation. The Netflix board’s compensation committee approved the residential security costs “after considering the potential security concerns related to Mr. Sarandos’ service as an executive officer and believes the security costs are a necessary and appropriate business expense.”
Greg Peters, who assumed the role of co-ceo in January 2023, had a compensation package last year worth $40.1 million, a significant jump from $28.1 million in 2022. He previously had served as COO and chief product officer. Peters’ 2023 pay included $2.9 million salary, $22.7 million in stock options, a $13.9 million cash bonus and $620,602 for personal use of company aircraft.
- 4/18/2024
- by Todd Spangler
- Variety Film + TV
Netflix added 9.3 million subscribers in the quarter ended March 31, reaching 269.6 million worldwide, and outperformed expectations in other key areas in its latest strong financial report.
Revenue and earnings per share both handily exceeded Wall Street forecasts at $9.37 billion and $5.28, respectively. The top line was up 15% from the same quarter in 2023, while Eps came in at nearly double the year-ago period’s $2.88. Operating income jumped 28% from the prior year to reach $2.6 billion.
In its quarterly letter to shareholders, Netflix made the surprising disclosure that it plans to stop reporting subscriber totals and average revenue per subscriber starting with its first quarter results in 2025.
“In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,” the letter said. “But now we’re generating very substantial profit and free cash flow (Fcf). We are also developing new revenue streams like advertising and our extra member feature,...
Revenue and earnings per share both handily exceeded Wall Street forecasts at $9.37 billion and $5.28, respectively. The top line was up 15% from the same quarter in 2023, while Eps came in at nearly double the year-ago period’s $2.88. Operating income jumped 28% from the prior year to reach $2.6 billion.
In its quarterly letter to shareholders, Netflix made the surprising disclosure that it plans to stop reporting subscriber totals and average revenue per subscriber starting with its first quarter results in 2025.
“In our early days, when we had little revenue or profit, membership growth was a strong indicator of our future potential,” the letter said. “But now we’re generating very substantial profit and free cash flow (Fcf). We are also developing new revenue streams like advertising and our extra member feature,...
- 4/18/2024
- by Dade Hayes
- Deadline Film + TV
A newly unsealed document in a potential class-action lawsuit alleges that Facebook shut down Facebook Watch to keep Netflix among its top advertisers — and to keep ads for Netflix series and films off of emerging competitors like Snapchat, a person with knowledge of the lawsuit tells IndieWire. And along the way, the two traded lots and lots of your data — allegedly.
The suit, filed by attorney Brian J. Dunne on behalf of other Facebook advertisers, seeks billions in damages. If they win at trial or settle, the exact dollar amount would come down to a percentage of Facebook’s overall advertising revenue from 2016-2019.
Before Facebook launched streaming-video platform Facebook Watch in August 2017, Netflix spent about $40 million per year on Facebook ads, per the letter from Dunne to a Judge Donato. Shortly after Mark Zuckerberg doomed Facebook Watch by decimating its budget in 2018, the spend increased to $150 million; two years later,...
The suit, filed by attorney Brian J. Dunne on behalf of other Facebook advertisers, seeks billions in damages. If they win at trial or settle, the exact dollar amount would come down to a percentage of Facebook’s overall advertising revenue from 2016-2019.
Before Facebook launched streaming-video platform Facebook Watch in August 2017, Netflix spent about $40 million per year on Facebook ads, per the letter from Dunne to a Judge Donato. Shortly after Mark Zuckerberg doomed Facebook Watch by decimating its budget in 2018, the spend increased to $150 million; two years later,...
- 4/3/2024
- by Tony Maglio
- Indiewire
Newly unsealed court documents show that in 2018, Facebook executives slashed the funding of Facebook Watch in favor of an ad deal with Netflix.
As the world’s largest and most profitable streaming service, Netflix’s dominance leaves no room to question who the leader in streaming is. But how important was another global tech company in its rise to power? A new report from Gizmodo has details about the close relationship between then Netflix co-ceo Reed Hastings and key members of the Facebook team, including Mark Zuckerberg. The report outlines that Facebook agreed to effectively defund its streamer Facebook Watch in 2018 to help maintain a closer advertising relationship with Netflix, a deal that might have helped the streamer gain millions of new subscribers.
Facebook Watch began creating original titles and seeking new licensing deals to build its presence as an on-demand streamer in 2017. The platform pivoted to social video in...
As the world’s largest and most profitable streaming service, Netflix’s dominance leaves no room to question who the leader in streaming is. But how important was another global tech company in its rise to power? A new report from Gizmodo has details about the close relationship between then Netflix co-ceo Reed Hastings and key members of the Facebook team, including Mark Zuckerberg. The report outlines that Facebook agreed to effectively defund its streamer Facebook Watch in 2018 to help maintain a closer advertising relationship with Netflix, a deal that might have helped the streamer gain millions of new subscribers.
Facebook Watch began creating original titles and seeking new licensing deals to build its presence as an on-demand streamer in 2017. The platform pivoted to social video in...
- 4/1/2024
- by David Satin
- The Streamable
A priest, a rabbi, and an imam walk into a bar. The young bartender sets down her phone, looks at the priest and asks, “What can I get ya?” The priest says, “Good afternoon, my child. We were just discussing the story of Moses, which may be of interest to you. It’s about service, patience, and–” “Let me stop you right there, Father,” the bartender says. “Before you launch into your story, maybe the rabbi would like to order?” The rabbi turns to the bartender and says, “Ah, thank you, young lady. But my thirst is like the Hebrews’ wandering the desert: meaningless compared to the holy mission of our greatest prophet.” The bartender sips her hard seltzer and looks at the imam. “I’m guessing you agree?” “Absolutely,” the imam replies “The story of Moses carries great wisdom. It deserves to be heard.”
“Well,” the bartender says, “I guess that settles it.
“Well,” the bartender says, “I guess that settles it.
- 3/27/2024
- by Ben Travers
- Indiewire
Netflix Co-founder and CEO Reed Hastings has donated $1.1 billion of his company shares to charity. Hastings donated two million shares to the charity known as the Silicon Valley Community Foundation, reports The Wall Street Journal.
The charity is popular with tech founders with over $10 billion in assets at the close of 2022. Donors see an immediate tax benefit (like avoiding payment of capital-gains tax) but funds can ultimately “sit for years” before being distributed, according to the report.
Hastings’s gift accounts for about 40 per cent of the executive’s direct ownership stake in Netflix.
Previous donors have included Facebook co-founder Mark Zuckerberg, who gave more than $1 billion worth of Facebook stock a decade ago.
Earlier this month, the foundation appointed Greta Hansen, Santa Clara County’s Chief Operating Officer, to the position of board chair and added David Chun and Archana Sathaye as new members of the board.
“I’m...
The charity is popular with tech founders with over $10 billion in assets at the close of 2022. Donors see an immediate tax benefit (like avoiding payment of capital-gains tax) but funds can ultimately “sit for years” before being distributed, according to the report.
Hastings’s gift accounts for about 40 per cent of the executive’s direct ownership stake in Netflix.
Previous donors have included Facebook co-founder Mark Zuckerberg, who gave more than $1 billion worth of Facebook stock a decade ago.
Earlier this month, the foundation appointed Greta Hansen, Santa Clara County’s Chief Operating Officer, to the position of board chair and added David Chun and Archana Sathaye as new members of the board.
“I’m...
- 1/30/2024
- by Agency News Desk
- GlamSham
Netflix founder and executive chair Reed Hastings has gifted 2 million shares, worth over $1.1 billion at the stock’s current price, to the Mountain View, California-based Silicon Valley Community Foundation, Deadline has confirmed.
The move was noted in a recent SEC filing without the beneficiary named. The donation was a big chunk of Hastings’ Netflix stock — about 40%. He still owns 2,991,541 shares, the filing said.
The stock has been having a great run and closed today at $575.08.
Hastings had a net worth of $6.6 billion before the latest gift, according to the Bloomberg Billionaires Index. He has donated to educational institutions led by HBCUs (Historically Black Colleges and Universities). Last year, he gave $20 million to Minerva University in San Francisco.
Hastings stepped down as co-ceo of Netflix with Ted Sarandos a year ago. Greg Peters is now co-ceo.
The Silicon Valley Community Foundation is a nonprofit public benefit corporation dedicated to charitable activities,...
The move was noted in a recent SEC filing without the beneficiary named. The donation was a big chunk of Hastings’ Netflix stock — about 40%. He still owns 2,991,541 shares, the filing said.
The stock has been having a great run and closed today at $575.08.
Hastings had a net worth of $6.6 billion before the latest gift, according to the Bloomberg Billionaires Index. He has donated to educational institutions led by HBCUs (Historically Black Colleges and Universities). Last year, he gave $20 million to Minerva University in San Francisco.
Hastings stepped down as co-ceo of Netflix with Ted Sarandos a year ago. Greg Peters is now co-ceo.
The Silicon Valley Community Foundation is a nonprofit public benefit corporation dedicated to charitable activities,...
- 1/30/2024
- by Jill Goldsmith
- Deadline Film + TV
Netflix shares jumped on Wednesday after the streaming giant surprised Wall Street on Jan. 23 by reporting its second-best quarterly subscriber additions ever (13 million) and unveiling a 10-year, $5 billion deal for WWE flagship show Raw, as well as the sports entertainment powerhouse’s content internationally.
The latter allowed the company to make a big splash in the live events content space that it has been targeting. “Expanding into live event programming is something we’ve talked about for quite a while, and this has been in the works, so we used to look at this as fits inside of our $17 billion programming spend now,” said co-ceo Ted Sarandos on its earnings call.
And the streaming giant’s fourth-quarter earnings report showed it ending 2023 with 260 million subscribers worldwide, helped by such original programming as Squid Game: The Challenge, new seasons of Lupin and Sex Education, the Money Heist spin-off Berlin, the conclusion of The Crown,...
The latter allowed the company to make a big splash in the live events content space that it has been targeting. “Expanding into live event programming is something we’ve talked about for quite a while, and this has been in the works, so we used to look at this as fits inside of our $17 billion programming spend now,” said co-ceo Ted Sarandos on its earnings call.
And the streaming giant’s fourth-quarter earnings report showed it ending 2023 with 260 million subscribers worldwide, helped by such original programming as Squid Game: The Challenge, new seasons of Lupin and Sex Education, the Money Heist spin-off Berlin, the conclusion of The Crown,...
- 1/24/2024
- by Georg Szalai
- The Hollywood Reporter - Movie News
When Scott Stuber arrived at Netflix in 2017, some of its biggest films to date were the Idris Elba drama “Beasts of No Nation,” the Adam Sandler comedy “Sandy Wexler,” or the Will Smith fantasy action film “Bright.” Some were hits or got some awards buzz, and sure they had new films by Noah Baumbach and Angelina Jolie, but Netflix at that time was still getting booed at the Cannes Film Festival for releasing Bong Joon-Ho’s “Okja.”
Under Stuber’s watch, that all changed. Netflix would be the place where Martin Scorsese, Bradley Cooper, Alfonso Cuarón, Jane Campion, and more would want to make their passion projects. It was the place The Rock, the Russo Brothers, Zack Snyder, and Shawn Levy took their tentpoles to make some of the streamer’s biggest hits to date. He spent a fortune to get the rights to two “Knives Out” sequels. And it...
Under Stuber’s watch, that all changed. Netflix would be the place where Martin Scorsese, Bradley Cooper, Alfonso Cuarón, Jane Campion, and more would want to make their passion projects. It was the place The Rock, the Russo Brothers, Zack Snyder, and Shawn Levy took their tentpoles to make some of the streamer’s biggest hits to date. He spent a fortune to get the rights to two “Knives Out” sequels. And it...
- 1/23/2024
- by Brian Welk
- Indiewire
Netflix chairman of film Scott Stuber, who built the streamer’s A-list motion picture business, is departing after seven years and will leave in March to start his own company.
The well-liked Stuber reportedly has financing to set up his new film and TV venture according to Bloomberg, which broke the news on Monday.
The development came as a surprise to Sundance industry attendees as they digested news of the company’s acquisition of festival horror selection It’s What’s Inside.
However sources said the executive had been looking to move on and had advocated for a deeper dive into theatrical distribution at the company.
The well-liked Stuber reportedly has financing to set up his new film and TV venture according to Bloomberg, which broke the news on Monday.
The development came as a surprise to Sundance industry attendees as they digested news of the company’s acquisition of festival horror selection It’s What’s Inside.
However sources said the executive had been looking to move on and had advocated for a deeper dive into theatrical distribution at the company.
- 1/22/2024
- ScreenDaily
Scott Stuber, who pushed Netflix to expand into blockbuster movie territory, is stepping down from the streaming service’s top film job to form his own media company.
Stuber will remain with the streamer until March, at which point Netflix Cco Bela Bajaria will temporarily assume his role while she searches for a replacement. Bloomberg first reported the news.
Under Stuber’s direction, Netflix’s feature business aggressively entered the blockbuster space, courting filmmakers such as Zack Snyder, the Russo brothers, Michael Bay and Rawson Marshall Thurber. The era began with the Will Smith starrer Bright, the 2017 film that had a reported budget of $90 million, a hefty number that turned heads at the time but would soon look quaint compared to what was to come.
Red Notice, starring Dwayne Johnson, Ryan Reynolds and Gal Gadot, cost somewhere in the $250 million to $300 million range, while the Russo’ Gray Man cost in the $200 million range.
Stuber will remain with the streamer until March, at which point Netflix Cco Bela Bajaria will temporarily assume his role while she searches for a replacement. Bloomberg first reported the news.
Under Stuber’s direction, Netflix’s feature business aggressively entered the blockbuster space, courting filmmakers such as Zack Snyder, the Russo brothers, Michael Bay and Rawson Marshall Thurber. The era began with the Will Smith starrer Bright, the 2017 film that had a reported budget of $90 million, a hefty number that turned heads at the time but would soon look quaint compared to what was to come.
Red Notice, starring Dwayne Johnson, Ryan Reynolds and Gal Gadot, cost somewhere in the $250 million to $300 million range, while the Russo’ Gray Man cost in the $200 million range.
- 1/22/2024
- by Mia Galuppo and Aaron Couch
- The Hollywood Reporter - Movie News
Netflix is once again going public and taking a stand on net neutrality.
The company was noticeably absent in the fight to preserve net neutrality six years ago when it was struck down by the Trump administration. But as the government prepares to restore the rules, the streaming giant is stepping up on the issue and making its case to the agency.
Netflix, in comments to the Federal Communications Commission filed Wednesday, backed proposals to bar internet service providers from imposing additional fees to avoid having their content blocked or throttled. Absent federal open internet protections, it argued that ISPs — many of which own or are affiliated with streaming services via special offers and bundles — will turn to degrading the quality of competitors’ content or increasing their costs.
Of course, the landscape of 2024 is a vastly different one than in 2010, when the Obama administration first passed net neutrality rules. It...
The company was noticeably absent in the fight to preserve net neutrality six years ago when it was struck down by the Trump administration. But as the government prepares to restore the rules, the streaming giant is stepping up on the issue and making its case to the agency.
Netflix, in comments to the Federal Communications Commission filed Wednesday, backed proposals to bar internet service providers from imposing additional fees to avoid having their content blocked or throttled. Absent federal open internet protections, it argued that ISPs — many of which own or are affiliated with streaming services via special offers and bundles — will turn to degrading the quality of competitors’ content or increasing their costs.
Of course, the landscape of 2024 is a vastly different one than in 2010, when the Obama administration first passed net neutrality rules. It...
- 1/18/2024
- by Winston Cho and Alex Weprin
- The Hollywood Reporter - Movie News
The instances in which Netflix has licensed a meh show and turned it into a hit are well-documented. The so-called “Netflix Effect” has perhaps never been more perfectly demonstrated than this summer with “Suits,” an old USA Network legal drama that spent a record 12 straight weeks as the no. 1 title across all of streaming, per Nielsen.
Other legacy Hollywood studios have gotten the message, and the licensing (to Netflix) floodgates have opened. Not that Netflix is interested in returning the favor — and it doesn’t sound like that’s going to change anytime soon.
Netflix co-ceo Ted Sarandos said his platform’s “Suits” success can be attributed to “the combination of our large subscriber base and our recommendation system that knew to put ‘Suits’ in front of people who were going to love it the most.”
“That’s a reflection of what we do best,” he continued on a Tuesday conference call with the media.
Other legacy Hollywood studios have gotten the message, and the licensing (to Netflix) floodgates have opened. Not that Netflix is interested in returning the favor — and it doesn’t sound like that’s going to change anytime soon.
Netflix co-ceo Ted Sarandos said his platform’s “Suits” success can be attributed to “the combination of our large subscriber base and our recommendation system that knew to put ‘Suits’ in front of people who were going to love it the most.”
“That’s a reflection of what we do best,” he continued on a Tuesday conference call with the media.
- 12/13/2023
- by Brian Welk
- Indiewire
Netflix is overhauling the way it pays its top executives after shareholders rejected its CEO pay earlier this year … but co-CEOs Ted Sarandos and Greg Peters are still in line for big paydays next yar.
The company said Friday that it had approved target compensation packages worth $40 million for Sarandos and Peters for 2024.
However, the way it calculates their final compensation is being changed after shareholders indicated that they were not happy with the current compensation plan over the summer.
“Historically, Executive Officers have been permitted to allocate compensation to cash salary and stock options,” the company wrote in an SEC filing. “The Committee determined to eliminate this program feature to address shareholder concerns that executives could choose all cash compensation.”
Indeed, in past years Sarandos has taken a cash salary of $20 million, with the reminder of his pay in stock.
Moving forward, the salaries for Sarandos and Peters will be $3 million,...
The company said Friday that it had approved target compensation packages worth $40 million for Sarandos and Peters for 2024.
However, the way it calculates their final compensation is being changed after shareholders indicated that they were not happy with the current compensation plan over the summer.
“Historically, Executive Officers have been permitted to allocate compensation to cash salary and stock options,” the company wrote in an SEC filing. “The Committee determined to eliminate this program feature to address shareholder concerns that executives could choose all cash compensation.”
Indeed, in past years Sarandos has taken a cash salary of $20 million, with the reminder of his pay in stock.
Moving forward, the salaries for Sarandos and Peters will be $3 million,...
- 12/8/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Netflix said today it plans to award its co-chief operating officers identical compensation packages for 2024 worth $40 million each.
Ted Sarandos and Greg Peters will receive a $3 million base salary; a target bonus of $6 million; a Rsu award with a total value of $15.5 million and a Psu award also valued at $15 million. The RSUs are time-based restricted stock units. PSUs are performance-based restricted stock units. Netflix calls the packages total target compensation.
The numbers in an SEC filing reflect changes in the way Netflix pays its top executives. For one, the board no longer allows execs to chose whether they prefer to be paid in cash or stock. “Historically, Executive Officers have been permitted to allocate compensation to cash salary and stock options. The Committee determined to eliminate this program feature to address shareholder concerns that executives could choose all cash compensation,” the compensation committee said.
Sarandos had opted to take...
Ted Sarandos and Greg Peters will receive a $3 million base salary; a target bonus of $6 million; a Rsu award with a total value of $15.5 million and a Psu award also valued at $15 million. The RSUs are time-based restricted stock units. PSUs are performance-based restricted stock units. Netflix calls the packages total target compensation.
The numbers in an SEC filing reflect changes in the way Netflix pays its top executives. For one, the board no longer allows execs to chose whether they prefer to be paid in cash or stock. “Historically, Executive Officers have been permitted to allocate compensation to cash salary and stock options. The Committee determined to eliminate this program feature to address shareholder concerns that executives could choose all cash compensation,” the compensation committee said.
Sarandos had opted to take...
- 12/8/2023
- by Jill Goldsmith
- Deadline Film + TV
Netflix’s board has approved 2024 pay packages of its top execs, with co-CEOs Ted Sarandos and Greg Peters each receiving target compensation worth $40 million.
For Sarandos, $40 million is the same level of pay he is targeted to receive in 2023, while Peters is getting a 5% step-up from the $34.65 million in target compensation for this year. Peters, formerly chief product officer and COO, was named co-ceo alongside Sarandos in January of 2023. Their total target compensation is dependent on company performance and are not guaranteed figures.
Reed Hastings, who stepped aside as CEO earlier this year, remains executive chairman. His compensation package for 2024 is pegged at a target of $1 million, down from $3 million in 2023. Before he exited as CEO, Hastings’ pay target had been $34.7 million this year, mostly in stock.
Netflix disclosed the target pay packages for top execs in an SEC filing Friday. The company said the board’s compensation committee...
For Sarandos, $40 million is the same level of pay he is targeted to receive in 2023, while Peters is getting a 5% step-up from the $34.65 million in target compensation for this year. Peters, formerly chief product officer and COO, was named co-ceo alongside Sarandos in January of 2023. Their total target compensation is dependent on company performance and are not guaranteed figures.
Reed Hastings, who stepped aside as CEO earlier this year, remains executive chairman. His compensation package for 2024 is pegged at a target of $1 million, down from $3 million in 2023. Before he exited as CEO, Hastings’ pay target had been $34.7 million this year, mostly in stock.
Netflix disclosed the target pay packages for top execs in an SEC filing Friday. The company said the board’s compensation committee...
- 12/8/2023
- by Todd Spangler
- Variety Film + TV
Media, entertainment and tech companies held their own in the top 25 ranking of overpaid CEOs in 2022 by nonprofit As You Sow. Live Nation’s Michael Rapino ($139 million pay package) topped the list, which also included Netflix, Paramount Global and Warner Bros Discovery, as well as Charter, Apple and Alphabet.
Overall CEO pay has been front and center this year during a season of record labor unrest from writers and actors to auto workers. We won’t know 2023 pay for most companies until next spring.
The shareholder advocacy group’s ranking of S&P 500 companies, its tenth, is particular as it starts with pay, data that’s been out for months, and calculates what it calls overpay by measuring compensation against three metrics: total shareholder return; the number of shares that are voted against a CEOs pay package at the annual meeting; and the ratio of CEO pay to median worker...
Overall CEO pay has been front and center this year during a season of record labor unrest from writers and actors to auto workers. We won’t know 2023 pay for most companies until next spring.
The shareholder advocacy group’s ranking of S&P 500 companies, its tenth, is particular as it starts with pay, data that’s been out for months, and calculates what it calls overpay by measuring compensation against three metrics: total shareholder return; the number of shares that are voted against a CEOs pay package at the annual meeting; and the ratio of CEO pay to median worker...
- 11/15/2023
- by Jill Goldsmith
- Deadline Film + TV
Everyone in the business knows that CEOs at big media and entertainment companies get lavish pay packages: nearly always eight figures, and sometimes nine if there’s a big deal involved (like Netflix CEO Ted Sarandos’ $38 million haul last year, or Wbd CEO David Zaslav’s infamous $246 million haul in 2021).
Their compensation has been scrutinized amid the strikes — but beyond the hefty salaries, lucrative bonuses and stock options, most top executives also get their fair share of perquisites (ya know, “perks”). Some are standard (CEOs get access to company health insurance plans, too! And they also get their 401(k) contributions matched!), but there are others that, well, are unlike anything their employees would expect to see in their W-2s.
Peak Perk — the Private Jet
Most companies define private jet travel purely for work purposes as an essential part of the job (and many companies cite the security of...
Their compensation has been scrutinized amid the strikes — but beyond the hefty salaries, lucrative bonuses and stock options, most top executives also get their fair share of perquisites (ya know, “perks”). Some are standard (CEOs get access to company health insurance plans, too! And they also get their 401(k) contributions matched!), but there are others that, well, are unlike anything their employees would expect to see in their W-2s.
Peak Perk — the Private Jet
Most companies define private jet travel purely for work purposes as an essential part of the job (and many companies cite the security of...
- 10/31/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
In the ever-competitive world of streaming services, Netflix has been a constant leader. However, a surprising twist recently unfolded when actress Jenna Ortega initially rejected the opportunity to portray the iconic Wednesday Addams in Netflix’s hit series “Wednesday.”
Related: Top 10 Most Popular Actresses of 2022
Disney+ emerged as a formidable competitor to Netflix, and during an interview in 2020, Netflix CEO Reed Hastings had modest expectations for Disney+, predicting it might gain 20 million subscribers. To everyone’s surprise, Disney+ rapidly soared to over 60 million subscribers within a year, thanks in part to its diverse content library.
Despite facing growing competition from platforms like Disney+, Netflix has continued to thrive. In the past year, Netflix experienced a significant resurgence, adding nearly six million new subscribers and increasing its free cash flow from $13 million to a remarkable $1.3 billion. This resurgence can be attributed to original content like “Stranger Things,” “Squid Game,” “Love is Blind,...
Related: Top 10 Most Popular Actresses of 2022
Disney+ emerged as a formidable competitor to Netflix, and during an interview in 2020, Netflix CEO Reed Hastings had modest expectations for Disney+, predicting it might gain 20 million subscribers. To everyone’s surprise, Disney+ rapidly soared to over 60 million subscribers within a year, thanks in part to its diverse content library.
Despite facing growing competition from platforms like Disney+, Netflix has continued to thrive. In the past year, Netflix experienced a significant resurgence, adding nearly six million new subscribers and increasing its free cash flow from $13 million to a remarkable $1.3 billion. This resurgence can be attributed to original content like “Stranger Things,” “Squid Game,” “Love is Blind,...
- 10/21/2023
- by Buddy TV
- buddytv.com
Netflix’s multi-year deal with Skydance Animation, which shifted over from Apple TV+, “helps complement the work that we’re doing” with original animated fare, Co-CEO Ted Sarandos said.
Partnering with third parties across the board “really helps us” to “keep up that scale as we grow,” the exec said on the company’s third-quarter earnings interview. Animation as a subset of the overall content mix has been an increasing priority in recent years, with co-founder and Executive Chairman Reed Hastings first publicly calling attention to it when he was running Netflix as CEO. Alluding to Disney, Hastings said in 2021 that execs were “very fired up about catching them in family animation, maybe eventually passing them, we’ll see.”
Hastings and Sarandos, however, have both conceded that everything in the animation business moves at a more deliberate pace than the rest of their operation. That’s where plugging in Skydance...
Partnering with third parties across the board “really helps us” to “keep up that scale as we grow,” the exec said on the company’s third-quarter earnings interview. Animation as a subset of the overall content mix has been an increasing priority in recent years, with co-founder and Executive Chairman Reed Hastings first publicly calling attention to it when he was running Netflix as CEO. Alluding to Disney, Hastings said in 2021 that execs were “very fired up about catching them in family animation, maybe eventually passing them, we’ll see.”
Hastings and Sarandos, however, have both conceded that everything in the animation business moves at a more deliberate pace than the rest of their operation. That’s where plugging in Skydance...
- 10/18/2023
- by Dade Hayes
- Deadline Film + TV
Netflix has promised to make “substantial changes” to its executive pay model after significant shareholder pushback regarding the sizable pay packages.
“We recognize we don’t have wide support for our executive compensation model of the last 20 years. We are listening to our shareholders and plan on substantial changes for 2024 to a more conventional model,” Netflix said in its third quarter earnings statement. “Our executive compensation plan will continue to be built on pay for performance.”
The commitment to switch up the compensation model comes months after the company’s shareholders rejected the streamer’s $166 million executive pay package in June. Only 25.7% of shareholders approved the package, which included salaries for co-ceo Ted Sarandos, former co-ceo Reed Hastings and Greg Peters, who was elevated from COO to co-ceo. While the vote is nonbinding and serves a purely advisory function, it marked a rare dissent among similar “Say on Pay” proposals.
“We recognize we don’t have wide support for our executive compensation model of the last 20 years. We are listening to our shareholders and plan on substantial changes for 2024 to a more conventional model,” Netflix said in its third quarter earnings statement. “Our executive compensation plan will continue to be built on pay for performance.”
The commitment to switch up the compensation model comes months after the company’s shareholders rejected the streamer’s $166 million executive pay package in June. Only 25.7% of shareholders approved the package, which included salaries for co-ceo Ted Sarandos, former co-ceo Reed Hastings and Greg Peters, who was elevated from COO to co-ceo. While the vote is nonbinding and serves a purely advisory function, it marked a rare dissent among similar “Say on Pay” proposals.
- 10/18/2023
- by Loree Seitz
- The Wrap
Netflix said it’s working on modifications to CEO pay policies after a majority of shareholders declined to approve top executive compensation in a non-binding vote at the last annual meeting. The company had said as much earlier this year.
“We recognize we don’t have wide support for our executive compensation model of the last 20 years. We are listening to our shareholders and plan on substantial changes for 2024 to a more conventional model. Our executive compensation plan will continue to be built on pay for performance,” the company noted in its annual shareholder letter.
Netflix has consistently tangled with shareholders over CEO pay.
For 2022, Netflix co-CEOs last year — then Reed Hastings and Ted Sarandos, topped the list of chief executive pay, with about $50 million each, up 25% and 32%, respectively. Hastings segued to executive chairman early this year with Sarandos and Greg Peters now co-CEOs. Netflix has famously allowed executives to...
“We recognize we don’t have wide support for our executive compensation model of the last 20 years. We are listening to our shareholders and plan on substantial changes for 2024 to a more conventional model. Our executive compensation plan will continue to be built on pay for performance,” the company noted in its annual shareholder letter.
Netflix has consistently tangled with shareholders over CEO pay.
For 2022, Netflix co-CEOs last year — then Reed Hastings and Ted Sarandos, topped the list of chief executive pay, with about $50 million each, up 25% and 32%, respectively. Hastings segued to executive chairman early this year with Sarandos and Greg Peters now co-CEOs. Netflix has famously allowed executives to...
- 10/18/2023
- by Jill Goldsmith
- Deadline Film + TV
Changes are coming to Netflix’s executive compensation packages.
In its Q3 earnings letter, Netflix says that it is planning “substantial changes for 2024” to its CEO and executive pay packages. The promise to investors comes after shareholders rejected the company’s 2022 pay packages in a “Say on Pay” vote over the summer.
According to an SEC filing, Netflix shareholders rejected the pay packages by a 3-1 margin, with 241.7 million voting no and only 97.8 million voting yes. The vote was non-binding, but when shareholders reject the pay packages, companies usually respond by adjusting executive compensation plans. In fact, Netflix dealt with this exact issue in 2019, another year when shareholders rejected its CEO pay.
“We recognize we don’t have wide support for our executive compensation model of the last 20 years,” Netflix wrote Wednesday. Now, Netflix says it will shift its pay plans “to a more conventional model.”
Co-CEO Ted Sarandos and...
In its Q3 earnings letter, Netflix says that it is planning “substantial changes for 2024” to its CEO and executive pay packages. The promise to investors comes after shareholders rejected the company’s 2022 pay packages in a “Say on Pay” vote over the summer.
According to an SEC filing, Netflix shareholders rejected the pay packages by a 3-1 margin, with 241.7 million voting no and only 97.8 million voting yes. The vote was non-binding, but when shareholders reject the pay packages, companies usually respond by adjusting executive compensation plans. In fact, Netflix dealt with this exact issue in 2019, another year when shareholders rejected its CEO pay.
“We recognize we don’t have wide support for our executive compensation model of the last 20 years,” Netflix wrote Wednesday. Now, Netflix says it will shift its pay plans “to a more conventional model.”
Co-CEO Ted Sarandos and...
- 10/18/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Exec tells Mipcom he wants to increase the amount that Studiocanal invests in content.
Canal+ Group chairman and CEO Maxime Saada stressed his ambition to grow in-house production arm Studiocanal during a keynote address at Mipcom this week.
Saada said that Canal+ is still too dependent on acquiring third-party content, particularly premium film and sports rights.
He noted that Canal+ Group invests €3.5bn annually on content; of this Studiocanal spends €300m. “So less than 10% really is in-house on the producing side. It is not enough,” said Saada.
“I think one of the big moves going forward is for Studiocanal to...
Canal+ Group chairman and CEO Maxime Saada stressed his ambition to grow in-house production arm Studiocanal during a keynote address at Mipcom this week.
Saada said that Canal+ is still too dependent on acquiring third-party content, particularly premium film and sports rights.
He noted that Canal+ Group invests €3.5bn annually on content; of this Studiocanal spends €300m. “So less than 10% really is in-house on the producing side. It is not enough,” said Saada.
“I think one of the big moves going forward is for Studiocanal to...
- 10/17/2023
- by Tim Dams
- ScreenDaily
Canal+ Group chairman and CEO Maxime Saada, who was honored at Mipcom with the Variety Vanguard Award Monday, underscored how the experience of the past informs the company’s future strategy, which includes an emphasis on aggregation and a ramping up of in-house production. He also explained why he believes his company “owes so much to Netflix,” but fears Amazon and YouTube.
“If you want to talk about the last seven or eight years you have to think about the history of Canal+ because it has driven a lot of our actions. And one of the key elements regarding Canal+ is that it’s a company that has almost died several times,” he told Cynthia Littleton, Variety‘s co-editor-in-chief in an on-stage conversation.
He explained that the company, the first pay-tv operator in Europe, launched in 1984, and that initial success was rapidly followed by “a gigantic failure and for a...
“If you want to talk about the last seven or eight years you have to think about the history of Canal+ because it has driven a lot of our actions. And one of the key elements regarding Canal+ is that it’s a company that has almost died several times,” he told Cynthia Littleton, Variety‘s co-editor-in-chief in an on-stage conversation.
He explained that the company, the first pay-tv operator in Europe, launched in 1984, and that initial success was rapidly followed by “a gigantic failure and for a...
- 10/16/2023
- by Leo Barraclough
- Variety Film + TV
Canal+ Chairman and CEO Maxime Saada has recalled how he travelled to Los Gatos with an olive branch six years ago.
In a keynote interview at Mipcom Cannes this past hour, Saada said his “obsession” with ensuring pay-tv giant Canal+ “stays alive” led him to travel to Netflix’s headquarters for a “very long conversation” with Reed Hastings.
Saada was trying to reduce Canal+’s dependency on its French pay business and diversify, and wanted to convince Hastings that the two companies could co-exist, even if both were chasing subscribers.
“I tried to convince him we were not necessarily competitors and that he was on the same side as Canal+ as he was trying to get people to pay for TV content,” he added.
Saada, who became Canal+ CEO in 2015, said his theory was ultimately correct as the two companies struck a carriage agreement in 2019. “Reed said we were competitors...
In a keynote interview at Mipcom Cannes this past hour, Saada said his “obsession” with ensuring pay-tv giant Canal+ “stays alive” led him to travel to Netflix’s headquarters for a “very long conversation” with Reed Hastings.
Saada was trying to reduce Canal+’s dependency on its French pay business and diversify, and wanted to convince Hastings that the two companies could co-exist, even if both were chasing subscribers.
“I tried to convince him we were not necessarily competitors and that he was on the same side as Canal+ as he was trying to get people to pay for TV content,” he added.
Saada, who became Canal+ CEO in 2015, said his theory was ultimately correct as the two companies struck a carriage agreement in 2019. “Reed said we were competitors...
- 10/16/2023
- by Jesse Whittock
- Deadline Film + TV
While Netflix’s ad-supported tier has surpassed 10 million monthly active users globally, the streamer’s co-ceo Ted Sarandos acknowledged Thursday that the offering is still in its infancy and “definitely not at the scale that we want it to be at yet.”
“We’re a year into it. Jeremi [Gorman], by the way, did a great job getting us to where we’re at today,” the executive told Bloomberg’s Screentime conference on Thursday. “What we have to do, by the way — not just us, all these platforms that have added an ad option — they’ve all got to do the same thing, which is you have to get that tier at scale and grow that at scale with fans and viewers.”
Last week, Netflix announced that Amy Reinhard would take over as president of the ad business, with Gorman set to exit. Following the announcement, the Information reported that the...
“We’re a year into it. Jeremi [Gorman], by the way, did a great job getting us to where we’re at today,” the executive told Bloomberg’s Screentime conference on Thursday. “What we have to do, by the way — not just us, all these platforms that have added an ad option — they’ve all got to do the same thing, which is you have to get that tier at scale and grow that at scale with fans and viewers.”
Last week, Netflix announced that Amy Reinhard would take over as president of the ad business, with Gorman set to exit. Following the announcement, the Information reported that the...
- 10/12/2023
- by Lucas Manfredi
- The Wrap
After spearheading Netflix’s entry into advertising last year, veteran exec Jeremi Gorman has exited the company.
Netflix exec Amy Reinhard has been promoted to president of advertising, replacing Gorman, who had come to the company last year after previous stints at Snap, Amazon and Yahoo.
In addition to the ad shuffle, Eunice Kim has been upped to Chief Product Officer and Elizabeth Stone to Chief Technology Officer. Stone joined the company in 2020 to lead data and insights, while Kim came aboard in 2021 after holding exec posts at Google and YouTube.
Netflix, which staged a virtual upfronts pitch last May, said at that time that its ad tier had reached 5 million subscribers globally. While that represents barely 2% of the company’s overall subscriber base of 238 million, it is a key strategic pillar as the streaming giant also implements paid password sharing as opposed to letting customers share passwords for free.
Netflix exec Amy Reinhard has been promoted to president of advertising, replacing Gorman, who had come to the company last year after previous stints at Snap, Amazon and Yahoo.
In addition to the ad shuffle, Eunice Kim has been upped to Chief Product Officer and Elizabeth Stone to Chief Technology Officer. Stone joined the company in 2020 to lead data and insights, while Kim came aboard in 2021 after holding exec posts at Google and YouTube.
Netflix, which staged a virtual upfronts pitch last May, said at that time that its ad tier had reached 5 million subscribers globally. While that represents barely 2% of the company’s overall subscriber base of 238 million, it is a key strategic pillar as the streaming giant also implements paid password sharing as opposed to letting customers share passwords for free.
- 10/3/2023
- by Dade Hayes
- Deadline Film + TV
Independent cinema is in trouble.
That’s according to Bob Berney, CEO of Picturehouse, John Sloss, founder and CEO of Cinetic Media, and Eugene Hernandez, director of the Sundance Film Festival and head of public programming. During an Oct. 1 Woodstock Film Festival panel titled the “Current and Future State of Independent Cinema” the trio ruminated on the future of independent film distribution.
Sloss acknowledged that while Netflix heads Reed Hastings and Ted Sarandos are progressive, their decision to withhold data from the industry at large “set the industry back 50 years.”
That said, Sloss admitted that he was immediately drawn to the streaming service when they began acquiring independently made films over two decades ago.
“I have 70 films in my office that pay overages, which is not an insignificant amount,” Sloss said. “Then Netflix came in and it was really a conflict because they were paying so much money. From everyone’s standpoint,...
That’s according to Bob Berney, CEO of Picturehouse, John Sloss, founder and CEO of Cinetic Media, and Eugene Hernandez, director of the Sundance Film Festival and head of public programming. During an Oct. 1 Woodstock Film Festival panel titled the “Current and Future State of Independent Cinema” the trio ruminated on the future of independent film distribution.
Sloss acknowledged that while Netflix heads Reed Hastings and Ted Sarandos are progressive, their decision to withhold data from the industry at large “set the industry back 50 years.”
That said, Sloss admitted that he was immediately drawn to the streaming service when they began acquiring independently made films over two decades ago.
“I have 70 films in my office that pay overages, which is not an insignificant amount,” Sloss said. “Then Netflix came in and it was really a conflict because they were paying so much money. From everyone’s standpoint,...
- 10/2/2023
- by Addie Morfoot
- Variety Film + TV
The future of working with streamers was on the table at the Zurich Summit on Saturday amid talk that the content bubble has burst as key markets such as the U.S. reach saturation point. Watch the panel above.
Responding to suggestions that streamers are pulling back in terms of investment, Netflix exec Sasha Bühler, who oversees German-speaking content, said this was not the case for her platform.
“We’re not slowing down by any means in any market. We’re just being a little bit more deliberate about what works for our members,” she said.
Bühler was joined on the panel by Picture Perfect Federation CEO Patrick Wachsberger; Axel Kuschevatzky, co-founder of London, Los Angeles and Buenos Aires-based production company Infinity Hill and Nick Shumaker, Head of Anonymous Content independent.
“Some territories are more saturated than others… Emea is a growth market for us for sure. We have not...
Responding to suggestions that streamers are pulling back in terms of investment, Netflix exec Sasha Bühler, who oversees German-speaking content, said this was not the case for her platform.
“We’re not slowing down by any means in any market. We’re just being a little bit more deliberate about what works for our members,” she said.
Bühler was joined on the panel by Picture Perfect Federation CEO Patrick Wachsberger; Axel Kuschevatzky, co-founder of London, Los Angeles and Buenos Aires-based production company Infinity Hill and Nick Shumaker, Head of Anonymous Content independent.
“Some territories are more saturated than others… Emea is a growth market for us for sure. We have not...
- 9/30/2023
- by Melanie Goodfellow
- Deadline Film + TV
Amazon Prime Video is the latest streamer to enter the ad space. Starting in early 2024, Prime Video shows and movies will include “limited advertisements,” according to a press release from the company.
Additionally, Amazon will offer a new ad-free option for an additional $2.99 per month for U.S. members. Currently, Amazon Prime, which includes Prime Video, costs $14.99 per month or $139 a year. A membership that only includes Prime Video and none of the company’s shipping benefits costs $8.99 a month.
Amazon has noted that it aims to have fewer ads than linear TV and other streaming TV providers. Prime Video ads will be released first in the U.S., U.K., Germany and Canada in early 2024. After that, the rollout will include France, Italy, Spain, Mexico and Australia later in the year. No action is required from Prime members, and the current price of Prime membership will remain the same.
Additionally, Amazon will offer a new ad-free option for an additional $2.99 per month for U.S. members. Currently, Amazon Prime, which includes Prime Video, costs $14.99 per month or $139 a year. A membership that only includes Prime Video and none of the company’s shipping benefits costs $8.99 a month.
Amazon has noted that it aims to have fewer ads than linear TV and other streaming TV providers. Prime Video ads will be released first in the U.S., U.K., Germany and Canada in early 2024. After that, the rollout will include France, Italy, Spain, Mexico and Australia later in the year. No action is required from Prime members, and the current price of Prime membership will remain the same.
- 9/22/2023
- by Kayla Cobb
- The Wrap
Exclusive: “The UK’s role in the media multiverse” will take up plenty of airtime at the Rts Cambridge Convention, according to Theresa Wise, as the great-and-the-good of the TV industry prepare to gather for the biannual get-together.
Wise, the Rts CEO for a decade, pointed to huge international players set to keynote the two-day event including CAA Chairman Bryan Lourd and Liberty Global MD Mike Fries. With the industry experiencing tough times as the economic crisis, ad recession and U.S. strikes combine to slow production to a stutter, the UK’s “role in the media multiverse” will be up for discussion, according to Wise, who said speakers will likely tackle the American labor action and its impact on the UK head on.
Lourd will be speaking just a few weeks after French billionaire Francois-Henri Pinault agreed to buy a majority stake in CAA. Wise said the CAA Chair...
Wise, the Rts CEO for a decade, pointed to huge international players set to keynote the two-day event including CAA Chairman Bryan Lourd and Liberty Global MD Mike Fries. With the industry experiencing tough times as the economic crisis, ad recession and U.S. strikes combine to slow production to a stutter, the UK’s “role in the media multiverse” will be up for discussion, according to Wise, who said speakers will likely tackle the American labor action and its impact on the UK head on.
Lourd will be speaking just a few weeks after French billionaire Francois-Henri Pinault agreed to buy a majority stake in CAA. Wise said the CAA Chair...
- 9/18/2023
- by Max Goldbart
- Deadline Film + TV
Susan Rice has rejoined Netflix’s board of directors, after leaving the Biden administration this spring,
Netflix said in an SEC filing Friday that Rice’s appointment to the board occurred on Sept. 6, effective immediately. She will hold office as a Class I director with a term expiring at the company’s annual meeting of stockholders in 2024. Rice has not yet been appointed to serve as a member of any board committees.
Rice will receive an annual retainer of $300,000 as compensation for her service as Netflix director, which will be payable monthly and prorated for the remainder of 2023.
Rice, an alum of the Obama administration, had previously joined Netflix’s board in March 2018 before announcing in December 2020 that she was joining Biden’s White House as director of domestic policy. Netflix has other ties to the Obamas, including most directly through its overall deal inked in 2018 with Barack and Michelle Obama...
Netflix said in an SEC filing Friday that Rice’s appointment to the board occurred on Sept. 6, effective immediately. She will hold office as a Class I director with a term expiring at the company’s annual meeting of stockholders in 2024. Rice has not yet been appointed to serve as a member of any board committees.
Rice will receive an annual retainer of $300,000 as compensation for her service as Netflix director, which will be payable monthly and prorated for the remainder of 2023.
Rice, an alum of the Obama administration, had previously joined Netflix’s board in March 2018 before announcing in December 2020 that she was joining Biden’s White House as director of domestic policy. Netflix has other ties to the Obamas, including most directly through its overall deal inked in 2018 with Barack and Michelle Obama...
- 9/8/2023
- by Todd Spangler
- Variety Film + TV
Netflix just kicked off its big crackdown on illicit password-sharing users this spring — but co-CEO Greg Peters says there’s still a long road ahead of the company on this front.
“We’ll be in the password-sharing business for some time,” Peters said, speaking Tuesday at the 2023 Goldman Sachs Communacopia + Technology Conference.
According to Peters, Netflix “built an elegant solution” to address the issue of informing users who were piggybacking on someone else’s account that they would need to pay for their own plan (or get added as an “extra member” for an additional fee).
“If you’re borrowing Netflix, you’re not thrilled about the idea that we’re gonna charge you,” Peters noted. Netflix continually tested and iterated its paid-sharing programs and messaging as it saw how consumers were responding. “We always had a deliberate approach… to make sure we were learning and we were getting it right,...
“We’ll be in the password-sharing business for some time,” Peters said, speaking Tuesday at the 2023 Goldman Sachs Communacopia + Technology Conference.
According to Peters, Netflix “built an elegant solution” to address the issue of informing users who were piggybacking on someone else’s account that they would need to pay for their own plan (or get added as an “extra member” for an additional fee).
“If you’re borrowing Netflix, you’re not thrilled about the idea that we’re gonna charge you,” Peters noted. Netflix continually tested and iterated its paid-sharing programs and messaging as it saw how consumers were responding. “We always had a deliberate approach… to make sure we were learning and we were getting it right,...
- 9/5/2023
- by Todd Spangler
- Variety Film + TV
Netflix will officially shutter its DVD-by-mail service in September, marking the end of an era for the company. To close out the very business that the streaming giant was founded on, Netflix is mailing up to 10 discs apiece to its last-remaining DVD users.
Netflix emailed users of its DVD.com service with the unusual offer this week. Those who opt in should wait by their mailboxes starting September 29, the final day the company will ship out discs. It’s not for keeps; returns are due October 27.
“Let’s have some fun for our finale!” the email (obtained by IndieWire) reads. “You won’t know if any extra envelopes are headed your way until they arrive in your mailbox!”
The email encourages subscribers to “review your queue and move your must-watch movies to the top.”
“We wish you happy viewing and truly thank you for being part of our final season. Enjoy each and every red envelope,...
Netflix emailed users of its DVD.com service with the unusual offer this week. Those who opt in should wait by their mailboxes starting September 29, the final day the company will ship out discs. It’s not for keeps; returns are due October 27.
“Let’s have some fun for our finale!” the email (obtained by IndieWire) reads. “You won’t know if any extra envelopes are headed your way until they arrive in your mailbox!”
The email encourages subscribers to “review your queue and move your must-watch movies to the top.”
“We wish you happy viewing and truly thank you for being part of our final season. Enjoy each and every red envelope,...
- 8/17/2023
- by Wilson Chapman
- Indiewire
The WGA marked 100 days on strike on Aug. 9 with well-attended picket lines in both New York and Los Angeles.
The crowd was larger than usual outside Netflix in Los Angeles, where strikers had set up a balloon sign spelling out “100” to mark the occasion. “At 100 days, there’s no dip in commitment. There’s no dip in enthusiasm for doing what’s right,” said Nicole Yorkin, a member of the WGA negotiating committee. “I am so proud of our members. Whatever happens, we’re going to be here until we get what we want.”
There was also a sizable crowd at Paramount, down the street. Shawn Wines, a strike captain, said the day was an opportunity to show appreciation for the unity of the membership. “Nobody wants to celebrate that it’s been this long,” Wines said. “We want to appreciate each other, and the community that’s happening out...
The crowd was larger than usual outside Netflix in Los Angeles, where strikers had set up a balloon sign spelling out “100” to mark the occasion. “At 100 days, there’s no dip in commitment. There’s no dip in enthusiasm for doing what’s right,” said Nicole Yorkin, a member of the WGA negotiating committee. “I am so proud of our members. Whatever happens, we’re going to be here until we get what we want.”
There was also a sizable crowd at Paramount, down the street. Shawn Wines, a strike captain, said the day was an opportunity to show appreciation for the unity of the membership. “Nobody wants to celebrate that it’s been this long,” Wines said. “We want to appreciate each other, and the community that’s happening out...
- 8/9/2023
- by Joe Otterson, Gene Maddaus and Angelique Jackson
- Variety Film + TV
As Hollywood actors and writers strike together for the first time in more than half a century, executive pay is in the spotlight. Talent are posting residuals checks barely worth the postage it cost to mail them alongside captions criticizing Hollywood execs’ eight-figure pay packages.
SAG-AFTRA and the Writers Guild of America didn’t strike because of C-suite pay, of course, but the optics of such disparity are fueling the flames.
“What’s happening right now in Hollywood is a microcosm for what’s happening across America,” says Robert Reich, former U.S. Secretary of Labor and co-founder of the Economic Policy Institute. CEOs of major corporations often earn hundreds of times the salary of the typical worker, he notes, and some entertainment companies have ratios even more jarring.
“Is this fair? Fairness is in the eyes of the beholder, obviously, but it certainly doesn’t feel it and it...
SAG-AFTRA and the Writers Guild of America didn’t strike because of C-suite pay, of course, but the optics of such disparity are fueling the flames.
“What’s happening right now in Hollywood is a microcosm for what’s happening across America,” says Robert Reich, former U.S. Secretary of Labor and co-founder of the Economic Policy Institute. CEOs of major corporations often earn hundreds of times the salary of the typical worker, he notes, and some entertainment companies have ratios even more jarring.
“Is this fair? Fairness is in the eyes of the beholder, obviously, but it certainly doesn’t feel it and it...
- 8/3/2023
- by Ashley Cullins
- The Hollywood Reporter - Movie News
When Joe Biden made a fundraising swing through Democratic donor strongholds in San Francisco, Chicago and New York last month, one city was noticeably absent from the list: Los Angeles.
The buzz in donor and political circles is that an L.A. visit is on hold. What was then a Writers Guild of America strike and, with SAG-AFTRA joining them, is now even more of a hotspot of labor strife.
Biden has called for writers to get a “fair deal they deserved” and, after the SAG-AFTRA strike was called, the White House made a similar statement, but sources say there are concerns of the president trekking to an event where he would be mired in the politics surrounding the labor impasse, or that he would be seen taking money from studio sources given his pro-union stance.
It’s unclear when Biden ultimately will schedule a Los Angeles visit, and some...
The buzz in donor and political circles is that an L.A. visit is on hold. What was then a Writers Guild of America strike and, with SAG-AFTRA joining them, is now even more of a hotspot of labor strife.
Biden has called for writers to get a “fair deal they deserved” and, after the SAG-AFTRA strike was called, the White House made a similar statement, but sources say there are concerns of the president trekking to an event where he would be mired in the politics surrounding the labor impasse, or that he would be seen taking money from studio sources given his pro-union stance.
It’s unclear when Biden ultimately will schedule a Los Angeles visit, and some...
- 7/27/2023
- by Ted Johnson
- Deadline Film + TV
Joe Biden’s reelection campaign has drawn early support from a range of figures in entertainment, media and tech, including six-figure contributions from a list that includes Seth MacFarlane, Netflix’s Reed Hastings and OpenAI’s Sam Altman.
Among donors in entertainment, Jeffrey Katzenberg gave the highest amount, $889,600. He is serving as Biden’s campaign co-chair. His wife, Marilyn Katzenberg, gave the same amount.
The list of donors also include actors such as Lin-Manuel Miranda, who gave $20,000, and other contributions came from Allison Janney, Rosario Dawson and Wendell Pierce.
Biden’s campaign and the Democratic National Committee reported raising $72 million in the latest quarter, the first of the president’s reelection bid, which he announced on April 25. The campaign has $77 million cash on hand.
Among the large donors to the Biden Victory Fund, the joint committee of the Biden campaign, the DNC and state parties, were Seth MacFarlane, who gave $100,000; Altman,...
Among donors in entertainment, Jeffrey Katzenberg gave the highest amount, $889,600. He is serving as Biden’s campaign co-chair. His wife, Marilyn Katzenberg, gave the same amount.
The list of donors also include actors such as Lin-Manuel Miranda, who gave $20,000, and other contributions came from Allison Janney, Rosario Dawson and Wendell Pierce.
Biden’s campaign and the Democratic National Committee reported raising $72 million in the latest quarter, the first of the president’s reelection bid, which he announced on April 25. The campaign has $77 million cash on hand.
Among the large donors to the Biden Victory Fund, the joint committee of the Biden campaign, the DNC and state parties, were Seth MacFarlane, who gave $100,000; Altman,...
- 7/16/2023
- by Ted Johnson
- Deadline Film + TV
“Guardians of the Galaxy” star Sean Gunn posted a video to Twitter Saturday clarifying comments made to The Hollywood Reporter about the SAG-AFTRA strike, his work on “Gilmore Girls” and residuals he receives from that series’ Netflix streams.
The publication removed his interview from the social network on Friday “because it did not note that the residuals Gunn was referencing are paid by the studio [Warner Bros. Discovery] and not the streamer, Netflix” — a move Gunn said was “absolutely absurd.”
“I never even used the word ‘residuals’ in my interview. The point I was making is that we don’t see any residuals for number of views on Netflix. Instead, we see a very meager amount from WB based on the licensing. Do better @THR,” Gunn wrote before posting a more expansive video response.
“The important thing is that the whole point of my interview is that Netflix...
The publication removed his interview from the social network on Friday “because it did not note that the residuals Gunn was referencing are paid by the studio [Warner Bros. Discovery] and not the streamer, Netflix” — a move Gunn said was “absolutely absurd.”
“I never even used the word ‘residuals’ in my interview. The point I was making is that we don’t see any residuals for number of views on Netflix. Instead, we see a very meager amount from WB based on the licensing. Do better @THR,” Gunn wrote before posting a more expansive video response.
“The important thing is that the whole point of my interview is that Netflix...
- 7/16/2023
- by Joseph Kapsch
- The Wrap
Sean Gunn, who played Stars Hollow’s eccentric wannabe filmmaker Kirk on “Gilmore Girls”, is among the actors who hit the picket lines on Friday after SAG-AFTRA voted to strike.
Interviewed by The Hollywood Reporter, Gunn — who’s the brother of DC Studios’ co-head James Gunn — discussed the issues at stake for actors, and cited Netflix’s acquisition of “Gilmore Girls” as an example of what he characterizes as unfair compensation for actors.
According to Gunn, he “particularly wanted to come out and protest Netflix” because he believes he and other actors who appeared in “Gilmore Girls” have not been receiving an equitable share of the profits from the show.
Read More: George Clooney, Jamie Lee Curtis & More Celebs React To Actors’ Strike As SAG-AFTRA Hits The Picket Lines
“I was on a television show called ‘Gilmore Girls’ for a long time that has brought in massive profits for Netflix,...
Interviewed by The Hollywood Reporter, Gunn — who’s the brother of DC Studios’ co-head James Gunn — discussed the issues at stake for actors, and cited Netflix’s acquisition of “Gilmore Girls” as an example of what he characterizes as unfair compensation for actors.
According to Gunn, he “particularly wanted to come out and protest Netflix” because he believes he and other actors who appeared in “Gilmore Girls” have not been receiving an equitable share of the profits from the show.
Read More: George Clooney, Jamie Lee Curtis & More Celebs React To Actors’ Strike As SAG-AFTRA Hits The Picket Lines
“I was on a television show called ‘Gilmore Girls’ for a long time that has brought in massive profits for Netflix,...
- 7/15/2023
- by Brent Furdyk
- ET Canada
While out on the picket lines Friday for the first day of SAG-AFTRA’s strike, Sean Gunn didn’t hold back on slamming AMPTP for the lack of residuals he has received for his role in Gilmore Girls.
The actor, brother of DC head James Gunn, told The Hollywood Reporter that he “particularly wanted to come out and protest Netflix” because, despite the show’s continued success since it debuted in 2000, he has not been fairly compensated.
“I was on a television show called Gilmore Girls for a long time that has brought in massive profits for Netflix,” he explained. “It has been one of their most popular shows for a very long time, over a decade. It gets streamed over and over and over again, and I see almost none of the revenue that comes into that.”
Though Netflix streams Gilmore Girls, the residuals Gunn is referencing come from...
The actor, brother of DC head James Gunn, told The Hollywood Reporter that he “particularly wanted to come out and protest Netflix” because, despite the show’s continued success since it debuted in 2000, he has not been fairly compensated.
“I was on a television show called Gilmore Girls for a long time that has brought in massive profits for Netflix,” he explained. “It has been one of their most popular shows for a very long time, over a decade. It gets streamed over and over and over again, and I see almost none of the revenue that comes into that.”
Though Netflix streams Gilmore Girls, the residuals Gunn is referencing come from...
- 7/14/2023
- by Carly Thomas
- The Hollywood Reporter - Movie News
Films to be required to expand into 10 of top 50 US markets within 45 days of initial qualifying release.
In a move that will require distributors to plan wider and longer theatrical releases, the Academy has issued new rules starting next season that will ensure companies expand a best picture contender’s theatrical footprint no later than 45 days after the initial qualifying release.
In a bid to support theatre-going, new requirements by the board starting with the 97th Academy Awards honouring films released in 2024 mean that once a film has received its initial one-week theatrical release in one of six qualifying US markets,...
In a move that will require distributors to plan wider and longer theatrical releases, the Academy has issued new rules starting next season that will ensure companies expand a best picture contender’s theatrical footprint no later than 45 days after the initial qualifying release.
In a bid to support theatre-going, new requirements by the board starting with the 97th Academy Awards honouring films released in 2024 mean that once a film has received its initial one-week theatrical release in one of six qualifying US markets,...
- 6/21/2023
- by Jeremy Kay
- ScreenDaily
Films to be required to expand into 10 of top 50 US markets within 45 days of initial qualifying release.
In a move that will require distributors of all sizes to plan broader theatrical releases, the Academy has issued new rules starting next season that will ensure companies expand a best picture contender’s theatrical no later than 45 days after the initial qualifying release.
New requirements by the board starting with the 97th Academy Awards honouring films released in 2024 mean that once a film has received its initial one-week theatrical release in one of six qualifying US markets, it must meet certain additional...
In a move that will require distributors of all sizes to plan broader theatrical releases, the Academy has issued new rules starting next season that will ensure companies expand a best picture contender’s theatrical no later than 45 days after the initial qualifying release.
New requirements by the board starting with the 97th Academy Awards honouring films released in 2024 mean that once a film has received its initial one-week theatrical release in one of six qualifying US markets, it must meet certain additional...
- 6/21/2023
- by Jeremy Kay
- ScreenDaily
Warner Bros. Discovery surprised just about everyone when its second-quarter earnings report showed that its streaming platforms Max (then HBO Max) and discovery+ had amassed a small profit of $50 million. Wbd spent most of 2022 slashing and burning its way through its streaming libraries, sparing only the titles users turned on most often.
Wbd’s relentless pursuit of profitability has paid dividends in a shorter time than anyone thought, and most of its competitors are still hoping to hit peak losses in the coming months. That’s true of Paramount+ and Peacock, while Disney is seemingly following Warner CEO David Zaslav's playbook to the letter, in the name of simply slowing down streaming losses that continue to amount to hundreds of millions of dollars quarterly. The only company that isn’t swimming upstream against these currents? You guessed it: Netflix.
Sign Up $6.99+ / month netflix.com
On Friday, June 16, Netflix’s...
Wbd’s relentless pursuit of profitability has paid dividends in a shorter time than anyone thought, and most of its competitors are still hoping to hit peak losses in the coming months. That’s true of Paramount+ and Peacock, while Disney is seemingly following Warner CEO David Zaslav's playbook to the letter, in the name of simply slowing down streaming losses that continue to amount to hundreds of millions of dollars quarterly. The only company that isn’t swimming upstream against these currents? You guessed it: Netflix.
Sign Up $6.99+ / month netflix.com
On Friday, June 16, Netflix’s...
- 6/19/2023
- by David Satin
- The Streamable
The Writers Guild is now one for two in its fight against corporate executive pay.
Comcast shareholders overwhelmingly supported the pay packages for top executives, including CEO Brian Roberts, by a vote of 343 million votes to 30 million. That was despite the WGA urging shareholders to vote against the plan, citing the ongoing writers strike.
On May 30, WGA West president Meredith Stiehm sent letters to top shareholders of Netflix and Comcast, urging them to reject their executive pay packages (so-called “Say on Pay” votes) at the annual meetings for those companies.
“Approval of this compensation package is inappropriate in light of the ongoing WGA writers’ strike and the associated risks,” Stiehm wrote, noting the picketing of productions and the difficult subscription environment.
Other major entertainment companies — including Warner Bros. Discovery, Apple, Disney, Amazon and Paramount — had already held their annual meetings.
Just a few days later, Netflix shareholders rejected that company...
Comcast shareholders overwhelmingly supported the pay packages for top executives, including CEO Brian Roberts, by a vote of 343 million votes to 30 million. That was despite the WGA urging shareholders to vote against the plan, citing the ongoing writers strike.
On May 30, WGA West president Meredith Stiehm sent letters to top shareholders of Netflix and Comcast, urging them to reject their executive pay packages (so-called “Say on Pay” votes) at the annual meetings for those companies.
“Approval of this compensation package is inappropriate in light of the ongoing WGA writers’ strike and the associated risks,” Stiehm wrote, noting the picketing of productions and the difficult subscription environment.
Other major entertainment companies — including Warner Bros. Discovery, Apple, Disney, Amazon and Paramount — had already held their annual meetings.
Just a few days later, Netflix shareholders rejected that company...
- 6/9/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Gas up the Learjets and break out the Moncler vests, it’s time for corporate chieftains to let their hair down, as only the one percent of the one percent knows how.
Meta chief Mark Zuckerberg, Warner Bros. Discovery honcho David Zaslav, Paramount Global chair Shari Redstone, Google CEO Sundar Pichai, Apple head Tim Cook, and Microsoft founder Bill Gates are heading to Idaho in July to attend the annual “summer camp for moguls,” known more formally as Sun Valley. And Bob Iger, back on the throne at the Walt Disney Company, will also be touching down in the resort town after a brief, unhappy (for shareholders) interregnum. They’ll be mixing and mingling with other media barons, Silicon Valley heavyweights and political players at the media finance retreat hosted by Allen & Co.
Among those getting tapped to dust off their Brooks Brothers casual wear are two former treasury secretaries,...
Meta chief Mark Zuckerberg, Warner Bros. Discovery honcho David Zaslav, Paramount Global chair Shari Redstone, Google CEO Sundar Pichai, Apple head Tim Cook, and Microsoft founder Bill Gates are heading to Idaho in July to attend the annual “summer camp for moguls,” known more formally as Sun Valley. And Bob Iger, back on the throne at the Walt Disney Company, will also be touching down in the resort town after a brief, unhappy (for shareholders) interregnum. They’ll be mixing and mingling with other media barons, Silicon Valley heavyweights and political players at the media finance retreat hosted by Allen & Co.
Among those getting tapped to dust off their Brooks Brothers casual wear are two former treasury secretaries,...
- 6/8/2023
- by Brent Lang and Rebecca Rubin
- Variety Film + TV
Only 25.7% of Netflix share votes approved the streamer’s $166 million cumulative executive pay proposal, according to documents released by the company.
Of the 379,773,197 share vote total, 25.74% of share votes were in favor of the proposed pay package, while 63.65% share votes were against the proposal with 0.18% of share votes abstained and 10.42% non-votes.
The majority vote against the proposal, which is nonbinding and serves an advisory function, marks the second lowest approval rate this year, behind only Simon Property Group, which was among the 1.5% of companies who asked shareholders to weigh in on executive compensation packages having rejected the “Say on Pay” proposals.
Also Read:
Netflix Shareholders Reject Execs’ $166 Million Payday in Rare Dissent Amid WGA Strike
The pay packages included total compensation for co-ceo Ted Sarandos, former co-ceo Reed Hastings and Greg Peters, who was elevated from COO to co-ceo earlier this year. In 2022, Hastings earned $51.1 million in total compensation last...
Of the 379,773,197 share vote total, 25.74% of share votes were in favor of the proposed pay package, while 63.65% share votes were against the proposal with 0.18% of share votes abstained and 10.42% non-votes.
The majority vote against the proposal, which is nonbinding and serves an advisory function, marks the second lowest approval rate this year, behind only Simon Property Group, which was among the 1.5% of companies who asked shareholders to weigh in on executive compensation packages having rejected the “Say on Pay” proposals.
Also Read:
Netflix Shareholders Reject Execs’ $166 Million Payday in Rare Dissent Amid WGA Strike
The pay packages included total compensation for co-ceo Ted Sarandos, former co-ceo Reed Hastings and Greg Peters, who was elevated from COO to co-ceo earlier this year. In 2022, Hastings earned $51.1 million in total compensation last...
- 6/6/2023
- by Loree Seitz
- The Wrap
Updated with vote tally: Netflix shareholders rejected by a nearly 3-to-1 margin a 2023 compensation plan for top executives.
The result of the vote, held at last Thursday’s annual shareholder meeting, was previously known but the exact tally was released Tuesday afternoon in an SEC filing. Netflix said 97.8 million shareholders voted in favor of the plan (roughly 29%) with 241.7 million against. The vote was non-binding, meaning execs will still be able to collect their packages as projected. Even so, the defeat was a symbolic setback for the company after it overhauled its approach to how it pays its top execs in the wake of a similar vote a year ago.
The vote followed a letter from the WGA urging a “no” vote on the pay plan in light of the guild’s ongoing strike against Netflix and other streamers and studios. A similar vote is expected at Wednesday’s Comcast shareholder meeting.
The result of the vote, held at last Thursday’s annual shareholder meeting, was previously known but the exact tally was released Tuesday afternoon in an SEC filing. Netflix said 97.8 million shareholders voted in favor of the plan (roughly 29%) with 241.7 million against. The vote was non-binding, meaning execs will still be able to collect their packages as projected. Even so, the defeat was a symbolic setback for the company after it overhauled its approach to how it pays its top execs in the wake of a similar vote a year ago.
The vote followed a letter from the WGA urging a “no” vote on the pay plan in light of the guild’s ongoing strike against Netflix and other streamers and studios. A similar vote is expected at Wednesday’s Comcast shareholder meeting.
- 6/6/2023
- by Dade Hayes
- Deadline Film + TV
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