CEOs of major US entertainment companies

Executive compensation for CEOs of major US entertainment companies grew more than twice the average compensation for CEOs at the nation’s largest companies last year, new data shows. The average compensation for CEOs of eight major entertainment companies, including Disney, Warner Bros., and Netflix, in 2023 was $34.8 million (approximately 5.5 billion yen), according to new data.

CEO compensation at five of the largest entertainment companies

CEO compensation at five of the largest entertainment companies (Warner Bros., Liberty Media, Disney, Lionsgate, and Netflix) increased by more than 20% compared to the previous year.

CEOs of major US entertainment companies : Lionsgate

John Feltheimer, CEO of one of the CEOs of major US entertainment companies, saw the largest increase in compensation compared to 2022, with a 284% rise. His total compensation jumped from $5.6 million (about 885 million yen) to $21.5 million (about 3.399 billion yen), including a $10 million cash bonus (about 1.58 billion yen). The bonus amount increased by $7.2 million (approximately 1.138 billion yen) from the previous year.

When Disney’s Bob Iger returned as CEO of Disney in November 2022, his executive compensation was $15 million (approximately 2,371 million yen). However, his total compensation last year, when he resumed full-time duties, increased by 110% to $36.1 million (approximately 5,707 million yen). This amount is lower than the $45.9 million (approximately 7.257 billion yen) he earned in 2021 before stepping down as CEO, mainly due to the decline in Disney’s stock price.

Greg Peters, co-CEO of Netflix

Greg Peters, who was appointed co-CEO of Netflix in January 2023, received executive compensation of $28.1 million (approximately 4.442 billion yen) in 2022 when he served as Chief Operating Officer (COO) and Chief Product Officer (CPO). His compensation increased by 29% to $40.1 million (approximately 6.34 billion yen).

Comcast Chairman and CEO Brian Roberts will earn an 11% increase, bringing his compensation to $35.5 million, while Liberty Media CEO Greg Maffei will see a 28% increase to $28.7 million. Warner Bros. CEO David Zaslove’s ( from the one of the CEOs of major US entertainment companies) salary rose by 26.5% to $49.7 million.

Adam Aron, CEO of movie theater operator AMC Entertainment, agreed with his board to cut his compensation target by 25% following complaints from shareholders. However, his total compensation received in 2023 was $25.4 million (approximately 4.016 billion yen), reflecting a 7% increase from the previous year. This amount included $17.9 million (approximately 2.83 billion yen) in stock compensation and a bonus of 600 million yen, totaling $10 million (approximately 949 million yen).

Paramount Global CEO Bob Bakish and Netflix co-CEO Ted Sarandos saw slight decreases in their compensation, each dropping 2% to $31.3 million (approximately 4.948 billion yen) compared to 2022.

According to executive compensation consulting firm Equilar, the average compensation for CEOs (CEOs of major US entertainment companies) of the 100 largest U.S. companies by revenue is projected to reach $23.7 million (approximately 3,747 million yen) in 2023, marking an average increase of 11.4% compared to the previous year. In contrast, CEO compensation at entertainment companies has nearly doubled, with an average increase of 24.7% for the eight companies listed above.

The U.S. entertainment industry saw actors and writers strike for months last year, impacting movie production and distribution companies. Dozens of films were postponed, with many rescheduled for 2025. Box office revenues have yet to recover to pre-pandemic levels. As for the 2024 U.S. box office revenue forecast, this month’s projection has increased from approximately $8 billion (approximately 1.26 trillion yen) to $8.2 billion (approximately 1.3 trillion yen). Streaming dominated entertainment stock trends in 2023, although legacy company stock prices generally remain below their pandemic peaks.

Lionsgate’s stock price rose 88% after announcing in December that it would acquire Entertainment One from Hasbro and separate the business from Starz in 2024. While Disney’s stock remained flat in 2023, Netflix’s stock rose more than 60% for the year, with Comcast and Warner Bros. stocks up 26% and 21%, respectively.

However, compared to their 2021 stock prices, Paramount’s stock has fallen by about 90%, Lionsgate’s by about 50%, Disney’s by about 40%, and Netflix‘s and Comcast’s by about 20% each. Shares of Warner Bros. Discovery, Warner’s parent company, are down about 70% from their peak in 2022 when the combined entity was formed.

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