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Top Netflix Execs Reed Hastings, Ted Sarandos Got Less Pay in 2021

Netflix co-founder and CEO Reed Hastings and Netflix Chief Content Officier Ted Sarandos attends the "Marseille" Netflix TV Serie Wold Premiere At Palais Du Pharo In Marseille on May 4, 2016 in Marseille, France.
Netflix co-CEOs Reed Hastings and Ted Sarandos. (Image credit: Dominique Charriau/Getty Images)

Top execs at Netflix got less compensation in 2021, according to a proxy statement filed Friday with the Securities and Exchange Commission.

Co-CEO Reed Hastings got total compensation of $40.8 million in 2021, down 6%  from $43.2 million in 2020.

Ted Sarandos, Netflix’s other co-CEO, saw his pay drop 3% to $38.2 million from $39.3 million a year ago.

“2020 presented unprecedented challenges for Netflix and the world, as we navigated the COVID-19 pandemic. Our Named Executive Officers continued to execute our strategies and deliver strong performance throughout 2020 amidst the continuously evolving and challenging environment,” Netflix said in the proxy.

COO and chief product officer Greg Peter’s compensation dropped to $20.4 million from $20.8 million, CFO  Spencer Neuman’s pay slipped to $12.5 million from $12.9 million, chief legal officer David Hayman’s pay dipped to $10.2 million from $10.5 million and Rachel Whetstone, the company’s chief financial officer got $5.3 million, down from $5.4 million. ■

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.