Netflix co-CEOs Ted Sarandos and Greg Peters each earned over $60 million in 2024. The compensation packages are an increase from Sarandos’ earnings of $49.8 million and Peters’ of $40.1 million in 2023, according to a 2025 proxy statement filed Thursday
The document noted that at the 2024 annual shareholders meeting, there was a vote on a proposal to update the executive compensation program at the company. The changes included setting base salaries for the co-CEOs at $3 million, introducing performance-based stock awards, and updates to stock ownership guidelines.
According to the proxy statement, both Sarandos’ and Peters’ total compensation in 2024 included the $3 million base and stock awards of $42.7 million. The remaining compensation included option awards and cash bonuses.
The document also broke down the compensation of Reed Hastings, founder of Netflix, who is currently serving as Executive Chairman. Hastings earned $1.7 million in 2024. In a letter to shareholders also released Thursday, it was announced that Hastings has stepped down from Executive Chairman to Chairman of the Board.