Netflix Gives Eye-Popping Raise to CEO

Reed Hastings gets rewarded for stock's meteoric rise

By Kevin Spak, Newser Staff

Posted Dec 31, 2013 8:50 AM CST

Copied

Netflix Gives Eye-Popping Raise to CEO — Reed Hastings, CEO of Netflix, announces Netflix's expansion to Toronto, Canada, Sept. 22, 2010. (AP Photo/The Canadian Press, Adrien Veczan)

Netflix CEO Reed Hastings is being rewarded handsomely for the network's recent success in the original content game. The CEO's pay will jump 50% in 2014, according to regulatory filings spotted by Reuters. He'll make $6 million, split evenly between stock and cash. Other top executives will get a pay raise, too. The raises come after Netflix's stock rose nearly 300% in 2013, and the news marks qute a turnaround for Hastings from 2011. (Read more Netflix stories.)