Netflix CEO Reed Hastings' Pay Rises to $24.4 Million for 2017

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Reed Hastings

Content chief Ted Sarandos saw his pay jump more than 18 percent to $22.4 million.

Netflix CEO Reed Hastings received a $24.4 million payday in 2017, up 5 percent compared with the $23.2 million he made in 2016, the company disclosed in a regulatory filing Monday. 

His salary dropped from $900,000 to $850,000, but his stock options awards rose from $22.3 million to $23.5 million.

Content chief Ted Sarandos, meanwhile, saw his 2017 compensation package rise by 18.5 percent to $22.4 million compared with the $18.9 million he made the previous year. 

His salary remained unchanged at $1 million, his option awards dropped slightly to $12.4 million, but his non-equity incentive plan compensation more than doubled from $4 million to more than $9 million.

The paydays come after another year of growth for the streamer. It added more than 23 million members in 2017 as it continued its international push, prompting investors to boost its stock price by more than 50 percent. 

Netflix has already given some indication of how it will compensate its executives this year. The company revealed at the end of December that, due to the tax overhaul implemented under President Donald Trump, it will convert its executive bonuses into regular compensation. Hastings stands to make as much as $29.4 million in 2019, and Sarandos could see his pay balloon to $22.2 million.