Executive Pay 2021: COVID Hammered Hollywood’s Bottom Line – But Not CEOs’ Wallets

WrapPRO’s annual executive compensation survey finds that not everyone who took pay cuts made less money in 2020 Taking a pay cut during the pandemic meant something very different for Hollywood and tech CEOs than for the rest of us. Last year, while the pandemic was spiraling out of control and bludgeoning the industry’s bottom line, many media companies like Fox, Comcast, Disney and struggling movie theater chains like AMC and Cinemark put out slick press releases about how their top execs were cutting – or in some cases forgoing – their salaries to help weather the financial storm. Now that we’re in 2021, we can see just how their pockets were affected, or not. In a word, CEOs were all still more than handsomely compensated for their work last year. For most, the pay cuts only meant they weren’t taking their salaries, which is a small fraction of their full compensation packages, mostly made up of stock and option awards, as well as bonuses. While it is true that the top executives over at Fox, Comcast and Disney did make less money compared to 2019, others actually saw their pay increase despite lower salary. AMC’s Adam Aron and Cinemark’s...

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