How do you make money as a CEO? If you’re David Zaslav, CEO of Warner Bros. Discovery, you gut the reputation of your studio, become an even bigger villain during the SAG-AFTRA strike, cancel completed films, and upset the biggest names in Hollywood all in the name of cutting costs.
According to Deadline, the controversial CEO made $49.7 million in 2023, with $3 million in base pay, $23 million in stock awards, and what amounts to a $22 million cash bonus.
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That’s far more money than most of us will make in our lifetime, and he seemingly got it because he’s been viciously cutting costs at the studio/streamer in an attempt to please shareholders. The most recent move was the cancellation of the nearly completed Coyote vs. ACME, which will now never see the light of day despite a promise of allowing it to be shopped around. Zaslav has for years been a lightning rod for those who bemoan the high pay of CEOs as his pay packages have skyrocketed to absurd heights, and it looks like that isn’t stopping.
It’s even more upsetting as the industry begins to come to terms with the streaming crashing and “peak TV” coming to an end. As mentioned, Zaslav has been slashing shows and crushing content for years now to save tax dollars and yet receives massive bonuses that could produce multiple movies or employ a bevy of people. While CEO pay across the industry is incredibly high (Netflix just said they paid around the same amount to its CEO, Ted Sarandos), Zaslav’s brutal running of WBD makes this one all the more frustrating.
If any of us got as much public backlash as he does for his work, we wouldn’t get a raise, let alone a massive bonus.
Published: Apr 19, 2024 10:26 am