Help wanted: Netflix movie publicist. $400,000 including options
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Netflix Inc. has turned heads in Hollywood by spending billions of dollars to lure filmmakers and viewers from rival TV networks. But it’s also frustrated competitors in a less-public way: by poaching talent and driving up pay.
The streaming giant has lured scores of defectors by offering big increases in compensation. Recruits are securing as much as double their pay, including stock and other benefits, people familiar with the matter say.
With $10 billion for programming and marketing this yearand a stock that’s vying again to lead the S&P 500Los Gatos, California-based Netflix is upending the way people get paid in Hollywood. TV networks and studios are struggling to keep up with a rival who will spend $300 million on a top producer like Ryan Murphy and pay lavishly further down the food chain.
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