Matt Rourke, Associated Press
In this July 17, 2017, file photo, the Netflix logo is displayed on an iPhone in Philadelphia. Netflix announced Monday, Oct. 22, 2018, that it plans to borrow another $2 billion to help pay for the exclusive series and movies that its management credits for helping its video streaming service reel in millions of new subscribers during the past five years.

SALT LAKE CITY — Netflix executives will make a lot of money in 2019.

What happened: Netflix released information about how much money its executives will earn for the coming year.

  • Netflix CEO Reed Hastings will earn $31.5 million in salary and stock options next year.
  • His base salary will be $700,000 and the rest will be related to equity in the company.
  • Ted Sarandos, who leads Netflix’s content, will make the same amount. His base salary will be $18 million.
5 comments on this story

Why it matters: The high salaries for Sarandos and Hastings show how important content has become for Netflix, CNN reports.

  • “It's the first time in recent years that Netflix will compensate its top two executives equally, showing how much the company values Sarandos. Netflix continues to add new original shows, movies, documentaries and comedy specials, paying top dollar for the world's biggest stars.”

Rise: Netflix has been on the rise this year. The company said at the end of 2018 that it has about 137 million customers across the world, according to The Wall Street Journal.