Reed Hastings got one heck of a raise in 2018.
The CEO of Netflix earned $36.1 million last year, a 48% increase over his 2017 totals of $24.4 million. The majority of that paycheck came in the form of stock options.
Hastings makes a base salary of $700,000, but his stock options for last year are now valued at $35.4 million. That’s slightly higher than expected.
The notification of the substantial raise comes days after Abigail Disney, the granddaughter of Roy Disney and grandniece of Walt Disney, said it was “insane” that Disney CEO Bob Iger made $65.6 million last year.
Netflix has seen rising viewership numbers and had several buzzy moments last year, but critics note the company could be at its apex. Disney’s looming Disney+ service is expected to be a substantial competitor (and Disney films and programs will begin disappearing from Netflix as early as next month). And Netflix’s recent price increase could scare away some of those viewers.
“A combination of ongoing price increases, increasing competition for both subscribers and new content, and the loss of a substantial portion of Netflix’s existing content keep us firmly in the bear camp,” said Wedbush analyst Michael Pachter in a note to investors earlier this month.