Netflix co-CEOs Ted Sarandos and Greg Peters saw a decrease in pay packages for 2025, with compensation coming in roughly $7 million less than the year prior.
Former Executive Chairman of the Board Reed Hastings also took a salary pay cut with his total compensation coming in around $1.2 million, about $500,000 less than the previous year. The co-founder and former CEO of Netflix announced he would be leaving the board at the end of the summer.
The streamer announced the CEOs’ pay in an SEC filing Thursday, which came out during the company’s first quarter earnings call. The filing also detailed the pay packages for Chief Financial Officer Spencer Neumann, Chief Legal Officer David Hyman and Chief Global Affairs Officer Clete Willems.
Both Sarandos and Peters received a base salary of $3 million — the same as they were paid in both 2023 and 2024. The co-CEOs saw pay cuts in their non-equity incentive plan compensation and option awards, receiving compensation of more than $7 million. The execs both earned $41 million in stock awards, but “all other compensation” for Sarandos stood at $2.5 million and for Peters it was $1.7 million.
Sarandos’ full pay packages totaled to $53.9 million and Peter’s was $53.2 million for 2025.
Netflix announced that its co-founder and former CEO will not run for board re-election after his current term expires at Netflix’s Annual Meeting in June. Netflix revealed Hastings’ exit Thursday afternoon during its first quarter shareholder letter.
Neumann and Hyman each took a roughly $2 million pay cut in 2025. The CFO was paid around $20.8 million in 2025, while the legal exec made $15.4 million. Willems, who started his role at Netflix in April 2025, made $14.3 million in his first year.
Netflix reported in its first quarter earnings call that its profit grew 82% to $5.23 billion as revenue climbed 16% to $12.3 billion, driven by growth in subscribers and ads revenue, as well as higher pricing. The company, which no longer discloses its subscribers on a quarterly basis, last disclosed a total of 325 million globally. The co-CEOs touted that its audience is approaching one billion subscribers as its next benchmark.
