Will Netflix change how it pays talent for its series and films?
While there may be a “few bespoke deals,” don’t expect any major changes. That is according to Netflix chief content officer Bela Bajaria, who was asked about the streaming giant’s approach to compensation at the Bloomberg Screentime conference Thursday.
“Our model works great for talent. It works great for filmmakers. It’s worked well for us. We like the model,” Bajaria said. “It’s worked for a long time, so we are not changing our compensation model.”
The executive suggested that the entertainment press is trying to make a mountain out of a molehill, and that the small number of one-off deals where talent “was interested in the opportunity” are not indicative of any larger change.
“Everybody wants there to be a story there,” Bajaria said. “That is clearly evidenced by what’s been written, including total fabrications about meetings that were about it, which is not true.”
“It’s very tiny thing that has blown up to the story of, ‘we’re changing our business.’”
Reports in recent weeks suggested that Netflix was preparing to propose a plan to Hollywood that would include smaller upfront fees in return for more success on the backend.
Netflix, of course, has changed its payments to creatives in the wake of last year’s SAG-AFTRA and WGA strikes, including success bonuses for shows that click with viewers. But Bajaria’s comments suggest that the streamer is not looking to end its process of buying out the backend of series and movies, and paying a premium to do so.
Netflix has, however, changes how it pays its top executives. Last year, the company shifted its C-level pay structure to include smaller salaries and more stock, so as to align CEO interests with those of shareholders.