January 17, 2021

Netflix CEO’s Paid Increased 43% in 2014

netfixeNetflix boosted CEO Reed Hastings’ pay by 43% to $11.1 million last year as the internet video service raised its prices and still added the most subscribers in its history.

The compensation package disclosed in a regulatory filing included stock options valued at $8.1 million. Those options could end up being worth more or less depending on how Netflix Inc.’s stock fares during the next few years.

Hastings also received a $3 million salary.

Netflix raised its monthly rates by $1 for new US subscribers in May while keeping them at $8 per month for existing customers.

The Los Gatos, California, company still ended last year with 57.4 million worldwide subscribers, a gain of 13 million from 2013. Netflix’s stock, though, fell by 7% last year.