Green Is the New Black: Netflix CEO Scores $2 Million Raise Next Year

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By Jason Abbruzzese2013-12-31 14:40:00 UTC

Chances are your new year won't be as happy as Reed Hasting's.

The Netflix CEO will receive a $3 million raise, a 50% pay bump, in 2014, according to a Reuters report based on regulatory filings. The additional compensation will be a mix of cash and stock.

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Just more than two years ago, it appeared as though Hastings had backed himself into a corner. After co-founding Netflix in 1998 and building its streaming service, he made a bold move in 2011 to split the company in two. The move was widely criticized and the company eventually scrapped the plans. Netflix stock, which was trading around $295 at the time, lost more than 75% of its value. Hastings faced calls to resign.

Since then, the company has flourished. Netflix has signed numerous major distribution deals and started to develop its own content, including popular and award-winning series like Orange Is the New Black and House of Cards.

Instead of questions about the future of his job, Hastings now must field inquiries about whether his company's stock is too high. Netflix shares have more than quadrupled in the past 12 months.

NFLX data by YCharts

Image: Felipe Calcedo/Getty

Topics: Business, Film, Media, netflix, reed hastings, Television