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Reed Hastings

Netflix Shareholders Reject Exec Pay Packages, Days After Writers Guild Urged “No” Vote

In a rare rebuke of corporate executive compensation, Netflix shareholders rejected the pay packages for top executives at the company, including co-CEO Ted Sarandos, former co-CEO Reed Hastings, and Greg Peters, who was COO of the company last year and was elevated to the co-CEO role earlier this year. The “no” vote on the “Say […]

Reed Hastings Donates $20M to Minerva University

Netflix co-CEO Reed Hastings is continuing his higher education philanthropy with a $20 million gift to Minerva University, a school focused on immersive virtual learning that has residential hubs in seven countries. Hastings’ donation will support the university’s long-term growth and provide scholarships to students with financial need, according to a Thursday announcement, which noted […]

Reed Hastings and Ted Sarandos in Line for $35M and $40M Netflix Paydays in 2023

In what is shaping up to be a critical year for the streaming giant, Netflix says that co-CEOs Reed Hastings and Ted Sarandos will have 2023 pay packages valued at $34.65 million and $40 million, respectively. That is in line with their 2022 pay packages of $40 million for Sarandos and $34.6 million for Hastings; […]

Netflix’s Reed Hastings: ‘Glass Onion’ Left “Lots” of Money on Table With Release Plan

In a wide-ranging conversation Wednesday, Netflix CEO Reed Hastings acknowledged that he got advertising “wrong” and that streaming competition has intensified. He admitted Netflix left “lots” of money on the table with its Glass Onion release strategy, while also heaping praise on Bob Iger, Elon Musk and Dave Chappelle. “It’s become a brawl now in […]

THR’s Philanthropist of the Year Reed Hastings on Why “It’s Much Easier to Disrupt Entertainment Than Public Education”

Early on in Reed Hastings’ tenure as a board member of the KIPP Foundation, which runs a nationwide network of charter schools designed to help underserved communities thrive, they were faced with a key challenge. In 2011, they received statistics on the college completion rates of their students, and while they were comparable to the […]

Netflix Unveils New Italian Slate, Rome Headquarters

Netflix officially opened the doors to its new Italian headquarters in Rome with a press event on Friday, unveiling its upcoming local-language slate, which will include a new series adaptation of the Italian classic The Leopard. Netflix founder and co-CEO Reed Hastings joined local execs, including vp of Italian original series Tinny Andreatta, director of […]

Netflix Plans to Launch Cheaper Ad-Supported Plans

Netflix is planning to roll out less expensive plans, supported by advertising. Netflix co-CEO Reed Hastings revealed the move on the company’s quarterly earnings call Tuesday, adding that the company will be examining what those plans will look like “over the next year or two.” Netflix COO Greg Peters said that advertising “is an exciting […]

Reed Hastings’ and Ted Sarandos’ Pay Packages Slipped in 2021 as Netflix Subscriber Growth Slowed

Netflix co-CEOs Reed Hastings and Ted Sarandos saw their compensation packages decline in 2021 as the streaming giant’s subscriber growth slow. That being said, Hastings still took home $40.8 million, with Sarandos earning $38.2 million. Hastings took a $650,000 annual salary and $39.7 million in stock awards, with Sarandos taking a $20 million salary and […]

Reed Hastings, Patty Quillin to Donate $10M to Tougaloo College and Brown University

Netflix CEO Reed Hastings and his wife, producer Patty Quillin, are donating $10 million to fund scholarship programs at Tougaloo College and Brown University. The gift will provide financial aid for Tougaloo students studying medicine, public health, the sciences, education, business and other community-focused fields, as well as support a 58-years-long partnership between Brown and […]

Reed Hastings Buys $20M in Netflix Shares Amid Stock Slump

As Netflix’s stock price tumbled over the past week, co-CEO Reed Hastings pounced. According to filings with the Securities and Exchange Commission Friday evening, Hastings purchased approximately $20 million worth of Netflix shares Thursday and Friday, paying between $379 and $393 for the privilege. The purchases (made through a trust that Hastings controls), suggest that […]

Netflix Co-CEO Ted Sarandos to See Pay Hit $40M in 2022, Reed Hastings Set to Earn $34M

Netflix co-CEO Ted Sarandos is set to out-earn his colleague and co-CEO Reed Hastings in 2022. The executives are expected to earn $40 million and $34.6 million, respectively, next year, according to a regulatory filing that was published Tuesday afternoon. Hastings’ pay is made up of $34 million in stock options and $650,000 in base […]

Netflix’s Reed Hastings to Receive Lifetime Achievement Award at Engineering Emmys

Netflix co-founder and CEO Reed Hastings will receive the Charles F. Jenkins Lifetime Achievement Award during the Television Academy’s 73rd Engineering Emmy Awards presentation, which is scheduled to be held Oct. 21, at the JW Marriott Hotel at L.A. LIVE. Additionally, Dolby will accept the Philo T. Farnsworth Corporate Achievement Award for its contributions to […]