Will Netflix change the way it pays talent for its series and movies?
There may be “some bespoke deals”, but don’t expect any major changes. That’s according to Netflix’s chief content officer Bela Bajaria, who was asked about the streaming giant’s approach to compensation at Thursday’s Bloomberg Screen Time conference.
“Our model is very effective for talent. It’s very effective for filmmakers. It’s worked for us. We like the model,” Bajaria said. “We have no intention of changing the compensation model because this has worked for a long time.”
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” doesn’t signal a major change. He suggested that no.
“Everyone wants there to be a story,” Bajaria said. “That is clearly evidenced by what has been written, including a complete fabrication of the meeting about it, which is not true.”
“It was a very small thing that evolved into a conversation of, ‘We’re going to change the business.'”
Reports in recent weeks have suggested that Netflix is preparing to offer Hollywood a lower upfront fee in exchange for more success on the back end.
Of course, Netflix made changes to how it pays creatives in the wake of last year’s SAG-AFTRA and WGA strikes, including success bonuses for shows that caught the attention of viewers. But Bajaria’s comments suggest the streamer isn’t about to abandon its process of acquiring the backend of series and movies and paying a premium for them.
However, Netflix has changed the way it pays its executives. Last year, the company changed its executive-level pay structure to include pay cuts and stock increases to align the CEO’s interests with those of shareholders.
