Netflix CEO Reed Hastings Doubles Salary in 2010 to $5.5 Million
Netflix CEO Reed Hastings doubled his income in 2010 to $5.5 million, a modest raise considering shares of the DVD and streaming-content company more than tripled last year.
Hastings, according to a regulatory filing Wednesday, was paid a base salary of $519,231, down from $1 million a year earlier, while nearly $5 million more came via stock options.
He also earned a mere $414 in "all other compensation," a meager amount compared with other Hollywood executives who sometimes roll up $200,000 or more in that category by way of private use of corporate jets, limousines, private trainers and other niceties.
Ted Sarandos, the chief content officer who has been striking deals in Hollywood for the rights to stream movies and TV shows over the Internet, was paid $2.4 million in 2010, a little more than twice what he earned a year earlier.
His compensation included a $900,000 base salary, almost $1.5 million in stock options and a $6,500 car allowance.
Leslie Kilgore, the chief marketing officer, made $2.8 million, up from $2.1 million, and Neil Hunt, the chief product officer, made $2 million, up from $1.5 million.
Barry McCarthy, who resigned as CFO in December, earned $3.8 million in 2010, up from $2 million in 2009.
In 2010, Netflix surpassed 20 million subscribers. The company's revenue rose 30% in 2010 to $2.2 billion, and its net income jumped 39% to $161 million year-over-year.