Dreamworks Lost Only $55 Million Last Year: Pay Raises for Everyone!
First, the bad news: Dreamworks Animation had a net loss of nearly $55 million last year.
But now the good news: that’s a heck of a lot better than 2014 when the company lost upwards of $300 million.
As a reward for everyone’s hard work that resulted in the company losing only tens of millions instead of hundreds of millions of dollars, the company awarded raises to most of its top executives. The biggest benefactor was Dreamworks CEO Jeffrey Katzenberg whose compensation package, including stock awards, more than doubled. Katzenberg controls 60.7% of the company’s voting shares.
The Dreamworks compensation committee is run by Mellody Hobson, who is the president of Ariel Investments. Last weekend, she attended a Hillary Clinton fundraiser with her husband, George Lucas, at Jeffrey Katzenberg’s home.
Here’s the breakdown of the amounts earned in 2015 by some of the studio’s top execs:
- Jeffrey Katzenberg, CEO: $13.5 million (up from $6.4m in 2014)
- Ann Daly, president: $8 million (up from $4.2m in 2014)
- Fazal Merchant, CFO: $4.6 million (up from $2.5m in 2014)
- Michael Francis, former chief global brand officer: $3.2 million (down from $3.3m in 2014)
- Lewis Coleman, former CFO: $2.6 million (down from $3.4m)
- Andrew Chang, general counsel: $1.8 million (up from $908,557 in 2014)
- Edward Aleman, former chief accounting officer: $1.2 million (2015 was only full year at company)
If you work at Dreamworks Animation, right now is clearly the time to be asking your bosses for a raise. Be sure and let us know how much your salary is boosted.
To read the studio’s filing today with the Securities and Exchange Commission, go here.
Photo: drserg/Shutterstock.com
