Netflix CEO Reed Hastings Will Have Double The Salary In 2013

Posted Dec 29, 2012

Netflix CEO Reed Hastings will have double the salary next year.  He will be paid $4 million in 2013 after it doubles.  Hastings cut his salary because of management missteps this year.  Hastings will get $2 million in salary and $2 million in stock options according to a securities filing.  Hastings’ salary was $500,000 and stock options were $1.5 million in 2012.  Hastings was paid $3.5 million in 2011 around the time he decided that they would change the price of subscriptions.  Netflix’s stock price dropped from $300 to below $70 per share as a result.  As of now, Netflix’s stock is trading at around $89.33.  Netflix is expected to add around 5 million U.S. subscribers after recovering from the missteps.  They will have around 27.1 million total subscribers by the end of the year.