Netflix shareholders reject salary increase for executives

Netflix shareholders reject salary increase for executives

The Writers Guild asked investors to vote against it. “If they can spend $166 million on them, they can pay the $68 million we ask for,” they said.

Courtesy: NYT

The Netflix shareholders voted this Thursday against to approve the salary increase and bonuses to the most senior executives of the company, including the CEOs ted sarandos and Greg Peters. The Union of Screenwriters from United States (WGA)which organizes the current strikehad asked investors to vote in such a way.

“While investors have long disagreed over Netflix executive pay, the compensation structure is more egregious in the context of the strike,” he wrote. Meredith Stiehmpresident of the WGA West, in a letter to Netflix shareholders in which she detailed: “Shareholders should send a message to Netflix noting that If the company can spend $166 million a year paying executives, they can pay the $68 million a year that the writers are asking for. in the form of contract improvements and thus put an end to this strike”.

Finally shareholders did not approve the proposal salaries and bonuses for executives by 2023. In any case, the measure not binding so the Netflix board of directors may not know the result.


Netflix streaming platform.

Netflix streaming platform.

In 2023, the payment package of Sarandos will accumulate US$40 million, being $3 million base salary, $17 million performance bonus and $20 million stock. Petersnamed co-CEO in January, will receive US$34.65 million.

For his part, the CFO of Netflix, Spencer Neumanwill win US$14 million, the head of legal, david hymanUS$11 million and the head of communications, Rachel Whitsone US$6.5 million.

Screenwriters Warn Director-Producer Deal Won’t End Strike

The writers strike in hollywood It turned one month old and there is less and less left for the other two big unions, actors and directors, to have to renew their contracts with the production companies. In that context, the writers union warned that “this is not 2008” (referring to the last strike) and that an agreement between directors and producers it will not cause the end of its measures of force.

writers strike succession (girl)

Writers strike.


The reaction responds to the events that occurred in the last strike, where the studies sought to make small deals with different sectors to cordon off the scriptwriters to agree to return to their jobs having obtained a minimum part of the demands. Now, the writers union maintains that the different associations are more united to defend the requests of each sector.

the DGA (the union of directors) must agree on the application of a new and improved formula to calculate streaming residuals counting international subscribers. While the Writers Guild also wants such a formula, they file more lawsuits with an emphasis on building writing teams with a minimum number of members and minimum employment time.

The writers union emphasized that the strike will end “when they agree to discuss all our demands.”

Source: Ambito

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