Printed from http://www.electronista.com

Netflix's Hastings to get pay bump in 2013

updated 06:17 pm EST, Fri December 28, 2012

Hastings to earn $4 million next year at Netflix

Netflix CEO Reed Hastings will see a bigger paycheck from the video streaming service next year, with the streaming service revealing a $4 million compensation package in documents filed today with the Securities and Exchange Commission. Hastings will receive $2 million in salary and $2 million in compensation through stock options, with the latter growing or shrinking in value depending on Netflix's performance. The 2013 pay package represents a significant jump for Hastings, who earned $500,000 in salary and $1.5 million in stock options in 2012.

The streaming service's most recent financial results saw Netflix pulling in $8 million in profit on $905 million in revenue. Under Hastings' guidance, the company has continually added users to its streaming service, picking up 1.16 million new domestic streaming customers and 690,000 international streaming subscriptions in the third quarter. Netflix's most recent figures had the company at 29.31 million total streaming subscriptions, with 25.1 million of those based in the United States.

The Wall Street Journal reports that Hastings' 2012 compensation was cut sharply after the company tried and failed in 2011 to spin off its DVD rental service, a failure that frightened investors and caused subscribers to revolt. Netflix shares closed today down $1.17 to $89.33.



By Electronista Staff
Post tools:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

Cat B100

Cat is primarily known for its heavy-duty machinery used in the construction industry and farming, among other areas. What may not be ...

Linksys EA6900 AC Router

As 802.11ac networking begins to makes its way into more and more devices, you may find yourself considering an upgrade for your home ...

D-Link DIR-510L 802.11AC travel router

Having Internet access in hotels and other similar locations used to be a miasma of connectivity issues. If Wi-Fi was available, it wa ...

Sponsor

toggle

Most Commented

 
toggle

Popular News