Netflix says the total compensation for Co-CEOs Ted Sarandos and Greg Peters dropped in 2025, but it remained at a robust level of more than $53 million apiece.
Sarandos saw his total compensation come in at $53.9 million, down from $61.9 million in 2024. Peters collected $53.2 million, down from $60.3 million. The two veteran execs were named Co-CEOs in 2023, stepping in to share the post long held by Reed Hastings.
Along with the compensation figures released in an SEC filing Thursday, the company announced its annual shareholder meeting will be held June 4. The meeting will be a significant event for the company, as Hastings has said he does not plan to run for re-election to the company’s board of directors. That will bring the curtain down on the company co-founder and longtime former CEO’s nearly 30-year affiliation with the streaming pioneer.
The compensation figures were released after the company put out solid first-quarter results, with revenue and earnings both topping Wall Street expectations. It was the first quarterly report for Netflix since it abandoned its planned deal to acquire Warner Bros after Paramount improved its rival offer.
Ranking No. 3 on the exec comp chart behind Sarandos and Peters was CFO Spence Neumann, who took home $20.8 million, down from $22.9 million in 2024.
Netflix shareholders in 2023 voted by a roughly 3-to-1 margin to reject the company’s pay for its top execs. The so-called “say on pay” vote was non-binding, however, so it did not materially alter what the members of the management team received.
In the company’s proxy filing with the SEC, where compensation figures are disclosed, the company said it “met or exceeded all of our financial objectives” in 2025. Revenue rose 16% from 2024, while operating margins increased to 29.5% from 26.7%, as advertising revenue increased by two-and-a-half times, exceeding $1.5 billion.
“These achievements informed bonus payouts of approximately 117.57% of the total target bonus opportunity for each of our Named Executive Officers,” the filing stated. Shareholder returns, compared with other members of the S&P 500, finished in the 92nd percentile for the two-year performance period applicable to the second tranche of performance-based restricted stock unit awards granted to execs in 2024. Per the compensation formula, the stock performance led the tranche to vest at 200% of the target amount.