What Every Major Hollywood Chief Executive Got Paid in 2022
Entertainment stocks took a beating in 2022 as economic uncertainty prompted consumers to tighten their belts and reevaluate streaming subscriptions and nights out to the movies. But even as shares broadly declined, some of Hollywood’s top executives ended up with considerable pay bumps.
Public companies report executive pay annually, with most companies filing proxy statements in March or April ahead of annual shareholder meetings. The timing of the disclosures this year couldn’t be worse in terms of public perception: Major media companies have been undergoing layoffs as Wall Street scrutinizes their plans to get money-losing streaming divisions to profitability. And the Writers Guild of America, which went on strike on May 2 for the first time since November 2007 after it was unable to reach a deal in contract negotiations with the studios, began circulating an infographic slamming the executives’ 2021 pay.
Yet only investors have a real say on what executives make and most shareholders rubber-stamp pay packages approved by board compensation committees. Support for “say-on-pay” proposals barely budged from 90% in 2021 to 89% in 2022, according to the Conference Board.
Pay has many factors, including one-time grants issued on an executive’s hire or stock that vests on a company’s initial public offering. Complex accounting rules also mean that an executive’s reported stock compensation may not reflect what they ultimately realize from those equity awards.
Below is TheWrap’s breakdown of what each executive made in 2022, based on annual proxy statements filed with the U.S. Securities and Exchange Commission.
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Netflix: Reed Hastings, Ted Sarandos and Greg Peters
As Netflix’s stock fell more than 51% during 2022, Reed Hastings, the company’s executive chairman and former co-CEO, raked in $51.1 million in total compensation last year, up from the $40.8 million he received in 2021. Hastings’ package included a $650,000 base salary, $49.4 million in stock options and $1 million in other compensation, including personal use of the company’s aircraft and a mere $212 for car services.
Netflix co-CEO Ted Sarandos brought in $50.3 million, compared to his $38.2 million package in 2021. The package was comprised of a $20 million base salary, $28.5 million in stock options and $1.8 million from other compensation, including $11,299 for car services, $336,148 for personal use of the company’s aircraft and $1,427,129 in residential security costs.
Greg Peters, the company’s former chief operating officer who succeeded Hastings as Netflix’s new co-CEO in January, received a total pay package of $28.1 million in 2022, compared to the $20.4 million package in 2021. The 2022 compensation was comprised of a $16 million base salary, $11.5 million in stock options and $617,263 in other compensation, including $510,375 for personal use of the company’s aircraft, $1,579 for car services, $49,864 in tax penalties arising from Peters’ prior expatriate assignment and $55,445 in related tax gross-up.
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Comcast: Brian Roberts, Jeff Shell and Mike Cavanagh
As Comcast stock fell about 30% in 2022, CEO Brian Roberts earned total compensation of $32.1 million in 2022, a decrease from $34 million in 2021 and $32.7 million in 2020. His pay came as the company’s stock fell 30.5% in 2022. Roberts’ 2022 pay included a $2.5 million base salary, $13.4 million in stock awards, $8.5 million in option awards, $7.5 million in non-equity incentive plan compensation and $206,127 in other compensation, including $196,127 for personal use of the company-provided aircraft.
Former NBCUniversal CEO Jeff Shell, who was terminated following an investigation into a complaint filed by CNBC anchor Hadley Gamble alleging sexual harassment, received a $2.5 million base salary; $7.5 million in non-equity incentive plan compensation, which represents annual performance-based bonuses; and $215,130 in “other compensation,” which included $202,755 for Shell’s personal use of the company-provided aircraft. But the remainder of Shell’s $21 million pay package for 2022 was forfeited upon termination, including $6.6 million in stock awards and $4.2 million in option awards. The company said the “estimated fair value” for the forfeited or canceled stock awards was $43.3 million. In comparison, Shell received total compensation of $21.6 million in 2021 and $16.5 million in 2020.
Comcast President Mike Cavanagh, who will serve as Shell’s effective replacement, received a total compensation package of $40.5 million in 2022, up from $27.4 million in 2021 and $25.3 million in 2020. His 2022 compensation included a $2.3 million base salary, $10 million in stock awards, $21.1 million in option awards, $6.9 million in non-equity incentive plan compensation and $187,124 in other compensation, including $177,124 for personal use of the company-provided aircraft.
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The Walt Disney Company: Bob Iger and Bob Chapek
Bob Iger, who returned to Disney as chief executive officer in November, earned $15 million in total compensation for 2022, down from $45.9 million in 2021 and $21.03 million in 2020. The package included a $1.1 million base salary, $4.7 million in stock awards, $2.4 million in option awards, $4.4 million in non-equity incentive plan compensation and $2.5 million in “other” compensation.
Bob Chapek, who was ousted from his role as Disney’s CEO in November, earned $24.2 million in total compensation for 2022, down from $32.4 million in 2021 but up from $14.2 million in 2020. The package included a $2.5 million base salary, $10.8 million in stock awards, $3.75 million in option awards, $6.75 million in non-equity incentive plan compensation and $372,151 in “other” compensation.
The company’s shares declined 43.9% in 2022, largely under Chapek’s watch.
Warner Bros. Discovery: David Zaslav and Jean-Briac “JB” Perrette
Warner Bros. Discovery CEO David Zaslav took in $39.3 million in total compensation for 2022, down from $246.6 million in 2021 but up from $37.7 million in 2020. The company’s stock fell 59.7% in 2022.
Zaslav’s package included a $3.06 million base salary, $12.03 million in stock awards, $1.45 million in option awards, $21.8 million in non-equity incentive plan compensation and $925,489 in “other” compensation, including $16,800 for a car allowance, $50,462 for personal security services, $825,675 for personal use of the company-provided aircraft and $11,718 for tax gross-ups associated with business associate and spousal travel at the request of the company that is considered business use.
Warner Bros. Discovery Global Streaming and Games President and CEO Jean-Briac “JB” Perrette received $14.1 million in total compensation for 2022, up from $13.4 million in 2021 and $10.4 million in 2020. The package included a $2.3 million base salary, $6.9 million in stock awards, $4.7 million in non-equity incentive plan compensation and $95,904 in “other” compensation, including $37,485 for tax services, $110,715 for relocation services and $89,209 for associated tax gross-ups.
Paramount Global: Bob Bakish
Paramount Global CEO Bob Bakish earned $32 million in total compensation for 2022, up from $20 million in 2021 but down from $39 million in 2020. The package included a $3.1 million base salary, $16 million in stock awards, $12.87 million in non-equity incentive plan compensation and $74,827 in “other” compensation.
Paramount shares fell 44.1% in 2022.
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Fox Corporation: Rupert and Lachlan Murdoch
Fox Corporation Chairman Rupert Murdoch took home $18.4 million in total compensation for fiscal 2022, down from $31.1 million in 2021 and $33.9 million in 2020. The package included a $5 million base salary, $5.2 million in stock awards, $1.8 million in option awards, $6.3 million in non-equity incentive plan compensation and $191,059 in “other” compensation, including $107,915 for personal use of the company-provided aircraft, $22,740 for personal use of the company-provided car, $12,200 in company contributions toward his 401(k) plan and $48,204 in life insurance premiums.
Fox Corporation CEO Lachlan Murdoch received $21.7 million in total compensation for fiscal 2022, down from $27.7 million in 2021 and $29.2 million in 2020. The package included a $3 million base salary, $8.2 million in stock awards, $2.75 million in option awards, $6.27 million in non-equity incentive plan compensation and $1.52 million in “other” compensation, including $145,599 for personal use of the company-provided aircraft, $14,400 for personal use of the company-provided car, $12,200 in company contributions toward his 401(k) plan and $5,382 in life insurance premiums and $1.34 million.
The company’s stock fell 14.4% in its 2022 fiscal year, which ended June 30, 2022.
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Roku: Anthony Wood and Charles Collier
Roku Chairman, President and CEO Anthony Wood received $21 million in total compensation for 2022, up from $18.13 million in 2021 and $15.4 million in 2020. The package included a $1.2 million base salary, $19.8 million in option awards and $16,644 in “other” compensation.
Roku Media president Charles Collier received $53.3 million in total compensation for 2022, including a $1.1 million base salary, $23.3 million in stock awards, $28.9 million in option awards and $25,245 in “other” compensation. Roku shares fell 82.2% in 2022.
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AMC Networks: Christina Spade
Former AMC Networks CEO Christina Spade, who abruptly stepped down from her position in November after just three months in the role, received total compensation of $21.4 million in 2022, up from $7 million in 2021 when she was the cable-network company’s chief financial officer. The 2022 package included a $1.3 million base salary, $7.4 million in stock awards, $2.2 million in non-equity incentive compensation and $10.6 million in “other” compensation. AMC appointed Kristin Dolan CEO in February. The company’s stock dropped 54.5% in 2022.
AMC Entertainment: Adam Aron
AMC Entertainment CEO Adam Aron received $23.7 million in total compensation in 2022, up from $18.9 million in 2021 and $20.9 million in 2020. The 2022 package included a $1.5 million base salary, $16.2 million in stock awards, $6 million in non-equity incentive plan compensation and $22,106 in “other” compensation. The theater chain’s stock dropped 85% in 2022.
Endeavor: Ari Emanuel
Ari Emanuel saw his 2022 pay sharply decline to $19 million, down from $308 million a year earlier, following Endeavor Group Holdings’ first full year as a public company. His 2021 pay included a one-time grant in conjunction with the company’s initial public offering. His 2022 package included a $4 million base salary, an $8.2 million bonus, $6 million in non-equity incentive compensation and $868,011 in “other compensation,” which represents $225,000 in business and management and tax advisory services provided to Emanuel, personal aircraft use, personal security-related services, reserved parking, personal cell phone expenses, a club membership fee and 401(k) matching contributions. Endeavor shares fell 35.4% in 2022.
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Cinemark: Sean Gamble
Cinemark CEO Sean Gamble took in $6 million in total compensation for 2022, up from $3.2 million in 2021 and $2.5 million in 2020. The package included an $825,000 base salary, $3.6 million in stock awards, $1.4 million in non-equity incentive compensation and $78,090 in “other” compensation. Cinemark shares fell 46.3% in 2022.
Lionsgate: Jon Feltheimer
Lionsgate Entertainment CEO Jon Feltheimer took in $6 million in total compensation for 2022, down from $19.2 million in 2021 and $11.1 million in 2020. The package included a $1.5 million base salary, $2.8 million bonus, $1 million in stock awards and $285,409 in “other” compensation, including $37,733 in club membership dues, $21,000 in security service costs and $213,373 in incremental costs for the personal use of the company-leased aircraft. Lionsgate shares fell 65.7% in 2022.
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