May 27, 2024

Netflix‘s board has approved 2024 pay packages of its top execs, with co-CEOs Ted Sarandos and Greg Peters each to receive compensation worth $40 million.

For Sarandos, it’s the same level of pay he is set to receive in 2023. Peters is getting a step-up from the $34.65 million in target compensation for this year. Peters, formerly chief product officer and COO, was named co-CEO alongside Sarandos in January of 2023.

Reed Hastings, who stepped aside as CEO earlier this year, remains executive chairman. His compensation package for 2024 will be $1 million, down from $3 million in 2023. This year, as CEO, Hastings had stood to make $34.7 million this year, mostly in stock.

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