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

Advertisement

Recent Reviews

Neurio Intelligent Home Monitor

The recently released Neurio Intelligent Home Monitor is a piece of hardware that, when integrated into a home's breaker box, monitors ...

Apple 13-inch MacBook Pro (Early 2015)

Although the new darling of the Apple MacBook line up is the all-new MacBook, Apple has given its popular 13-inch MacBook Pro with Ret ...

Seagate Wireless

It seems like no matter how much internal storage is included today's mobile devices, we, as users, will always find a way to fill the ...

Advertisement

toggle

Most Commented

 
toggle

Popular News