In liberal Hollywood, the rich got richer and everyone else got poorer or fired.
In 2023, Hollywood CEOs and other top executives were buzzing like bandits, with nearly every studio head receiving a hefty raise or raise. Their windfall stands in stark contrast to employees who had to endure mass layoffs, budget cuts, and two historic labor strikes that plunged the industry into unprecedented stagnation.
The data showed that executives at Endeavor, Netflix and Warner Bros. Discovery were among those who saw their compensation rise. Edited by Hollywood Reporter. The analysis includes base salary and stock-based compensation.
In 2023, Hollywood will be hit hard by layoffs.
Studios that have cut jobs include The Walt Disney Company, Paramount, Warner Bros. Discovery and Amazon MGM.
Warner Bros. Discovery CEO David Zaslav has become even wealthier after receiving a nearly 27% pay raise last year while overseeing mass layoffs at the media conglomerate.
Mr. Zaslav’s compensation in 2023 totaled $49.7 million, a 26.5% increase from the $39.3 million he received the year before, according to the company’s 2024 proxy statement filed last month. The layoffs also included staff from CNN, HBO and Turner Classic Movies.
Meanwhile, the blue-collar workers who keep film and TV sets running are also struggling to find work as studios cut the number of titles they greenlight to cut costs.
here hollywood reporterof studio executives will increase in compensation in 2023.
Ari Emanuel (Endeavor/TKO Group) — Stock performance: Up 4%. Salary increase: 339% increase.
Ted Sarandos (Netflix) — Stock price performance: Up 63%. Salary increase rate: 0.1% decrease.
David Zaslav (Warner Bros. Discovery) — Stock performance: Up 20%. Salary increase: 26% increase.
Greg Peters (Netflix) — Stock performance: Up 63%. Salary increase: 43% increase.
Brian Roberts (Comcast — parent company of NBCUniversal) — Stock performance: Up 26%. Salary increase: 11% increase.
Bob Iger (Disney) — Stock price performance: Up 1%. Salary increase: 33% decrease. (This comparison is his 2023 and his 2019.)
Bob Bakish (Paramount) — Stock performance: down 17%. Salary increase: 2% decrease.
Michael Cavanagh (Comcast) — Stock price performance: Up 26%. Salary increase: 27% decrease.
Adam Aaron (AMC Theaters) — Stock performance: down 85%. Salary increase: 7% increase.
Reed Hastings (Netflix) — — Stock price performance: Up 63%. Salary increase: 78% decrease.
Sean Gamble (Cinemark) — Stock performance: Up 60%. Salary increase: 47% increase.
Andy Jassy (Amazon) — Stock price performance: Up 78%. Salary increase: 8% increase.
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