(AOF) – Netflix shareholders have rejected a proposal to increase the remuneration of the company’s executives, in a non-binding vote which took place during the annual meeting of shareholders on June 1. The vote, which comes as the strike by Hollywood screenwriters enters its second month, was seen as a show of support for them.
Under terms put to a shareholder vote, Ted Sarandos and Greg Peters, co-chief executives of Netflix, would have their salaries capped at $3 million each.
But they would also be entitled to a minimum of 50% stock options and an annual performance-based cash bonus program, bringing their total compensation to around $40 million and $34 million. dollars respectively.
AOF – LEARN MORE
Sector analysis Communication and Media
French players well positioned in audiovisual production
Among the independent players, the Frenchman Banijay is the world leader with an expected turnover of 3 billion euros in 2022 in a market which represents 100 billion in revenue. Mediawan (backed by the KKR fund), whose turnover amounts to 1 billion euros, is the other main French player in the sector. The market is still very fragmented because according to the European Audiovisual Observatory, the top twenty production groups were responsible for only 38% of titles created in 2020. However, experts believe that the sector has entered a phase consolidation. Thus Banijay’s stock market listing aims to enable it to better participate in this movement.