Streaming video giant Netflix recently reported during its last earnings quarter that it has more than 137 million customers globally.
Netflix has also spent $8 billion (R115 billion) to produce original shows in 2018. The company is also planning to produce Queen Sono, its first African Original Series in 2019.
The series will be produced by South African comedian Kagiso Lediga. Queen Sono is a drama set in the world of espionage with an added zest of humour.
The company disclosed the
Netflix’s chief content officer Ted Sarandos got a 50% rise in salary for 2019.
Sarandos, who joined Netflix in 2000, will get $18 million (R259 million) in salary and $13.5 million (R194 million) in stock options, according to a stock exchange filing published on Friday.
The company’s CEO Reed Hastings will get as much as $31.5 million in salary and stock options in 2019. His salary is $700 000 (R10.1 million) and the rest is stock options.
Netflix’s chief product officer Greg Peters will receive $10 million in salary and $6.8 million in stock options.
Chief Financial Officer David Wells’, who is planning to step down, salary will get $3.5 million and $2.8 million in stock options.
General Counsel David Hyman also got a $3.5 million in salary and $3.5 million in stock options.
In South Africa, Netflix competes with MultiCoice, the owners of the country’s biggest pay-TV operator DStv and video streaming service ShowMax.
The Sunday Times newspaper recently reported that DStv faces its biggest existential threat since its launch 23 years ago as Netflix, Amazon Prime Video and other streaming giants wade into the local market.
The newspaper added that about 200 jobs may be affected by the imminent retrenchments.
MultiChoice has been losing its premium contract customers who are being snapped by Neflix, Amazon Prime Video and others are streaming content from various sources.
In the year ended 31 March 2018, MultiChoice said the number of Premium subscribers dropped to 1.92 million from 1.96 million.