Who is the CEO of Netflix in 2021? Here’s the short answer: Reed Hastings.
Hastings is actually one of the two chief executive officers of Netflix. But as far as media attention goes, he is much more prominent than the company’s other CEO.
The other guy is Ted Sarandos, who started his leadership role alongside Hastings in July 2020.
Publications such as The Guardian have referred to him as the “evil genius” who has transformed the way people watch TV and consume content online. Though Sarandos only became the co-CEO last year, he first joined Netflix over two decades ago in 2000. Back then, he was known as the mastermind behind the whole machinery that Netflix leveraged and changed how consumers saw the online video business. Netflix’s business model also included the streaming giant making consumers embrace internet entertainment.
Previously, Marc Rudolph acted as the chief executive officer of Netflix when the firm was founded in 1997. At the time, Netflix didn’t deal with online streaming since the infrastructure to make such a shift wasn’t in place. Instead, Netflix sold DVD and VHS tapes via mail order and offered rental services to generate revenue.
Both Rudolph and Hastings co-founded the firm, but Hastings particularly transformed the streaming service from a mere VHS tape seller to one of the biggest streaming platforms in the world.
That started in 2007 when Netflix debuted its first streaming service offering for subscribers.
Who Are the Owners of Netflix? Is It CEO Reed Hastings?
Currently, the streaming giant is a public company, trading under the NASDAQ symbol NFLX. And because it is publicly traded, technically, a large number of people own the company.
With that out of the way, there are also some major individual shareholders. Among them are Netflix Chief Executive Officer Reed Hastings, co-CEO and Chief Content Officer Ted Sarandos, Chief Product Officer Neil Hunt and Chief Operating Officer Greg Peters.
Ownership aside, the founders of Netflix are Reed Hastings and Marc Rudolph, who started the company in 1999.
How Much Does the CEO of Netflix Make?
Hastings, the co-CEO of Netflix, has a base salary of $650,000 per year. If we’re only looking at 2021, he is all set to make $34 million from his stock options.
Ted Sarandos, the other co-CEO, has a base salary of $20 million and $14 million worth of stock options. Ted drove the company’s content strategy evolution.
Conclusion: Who Is CEO of Netflix
So there you have it: Reed Hastings is the co-chief executive officer of Netflix, along with Ted Sarandos. Both executives earn tens of millions of dollars in annual compensation. In addition, both men have guided key executive leadership groups to ensure the firm’s content strategy stays right on the button.
The firm’s continued success is tremendously fortunate but also a marriage story of multiple factors. Its co-founder had to evolve Netflix’s management structure constantly as Netflix’s main competitor streaming services watched Reed Hastings leverage its product team and expand its strategic and analytical strengths.
Netflix members have had their needs completely met in terms of having access to all types of content. From blockbuster movies to local language stories told by independent creators from all parts of the map, the company is a leader in the streaming business today—probably a decade ahead of other services, as is evident by how the co-CEOs saw streaming coming before any other company.
Specifically, Netflix’s success comes down to several factors:
- It knows all about consumer tastes.
- It knows how succession planning works.
- It knows how to leverage the tremendous room for improvement employees, executives and investors have from their experiences with a previous company. A prime example is Jay Hoag, an early investor in Netflix who has served on the board of directors since 1999.
- The company’s chief executive officer knew how to convince a mutual friend to set up a meeting with his future co-CEO.
With Ted Sarandos’ deserved promotion formalizing Netflix’s will to have the right people doing the right things, there are no signs of the firm letting up any time soon.
Previously, Hastings wrote how people of different backgrounds have helped the company stay strong in its roughest periods. At other times, even though Hastings noted he doesn’t fully grasp his celebrity status, it is clear even he knows he has been a terrific co-founder.
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