Summary:
Netflix's chief executive Reed Hastings is getting a $6 million (£6.8 million) pay rise in 2014.

Full article:
By . Associated Press . PUBLISHED: . 10:41 EST, 31 December 2013 . | . UPDATED: . 10:41 EST, 31 December 2013 . Reed Hastings (pictured) is getting a 50 percent pay bump in 2014 . Netflix Chairman and CEO Reed Hastings, based in California, is getting a 50 percent pay bump in 2014 after a year in which shares of the online video subscription company quadrupled to an all-time high. A regulatory filing shows that Hastings' annual salary will climb from $2 million to $3 million next year, and his annual stock option allowance also will rise by $1 million to $3 million. The $6 million in total pay compares to $4 million in 2013, when his pay doubled. Hastings received a $5.3 million profit from a post-Christmas stock stale, according to the filing, reported in the LA Times. He had over 15,238 shares for $417,750 on the day after Christmas, which he sold for $5.8 million the same day. Netflix Inc. shares hit an all-time high price of $389.16 in October after ending 2012 at $92.59. The company this year began releasing original content like its House of Cards and Orange Is The New Black series, both of which have been a huge hit with viewers. Netflix is ending 2013 with 40 million subscribers. Netflix is ending 2013 with 40 million subscribers .