Snap cuts holiday bonuses; Disney plans NBA virtual reality experience; Netflix executives expect 2019 raises.
Netflix Chief Executive Reed Hastings will reportedly take home a $2.1 million pay raise during 2019, according to the Hollywood Reporter. Alongside Hastings, Content Chief Ted Sarandos will also get a raise, worth an estimated $5.1 million to match Hastings’ total $31.5 million potential salary in 2019. It’s been a banner year for Netflix; the Hollywood-based streaming firm saw its stock rise more than 30 percent in 2018.
Santa Monica-based Snap Inc. hasn’t had the merriest of years, and the social media company’s stock closed below $5 for the first time since it opened in 2010 on Dec. 21. Additionally, the company opted not to give holiday bonuses, which Variety reports could be a sign of failure to hit internal revenue goals.
Burbank-headquartered Walt Disney Co. will open a virtual reality destination dubbed “NBA Experience” summer 2019, and it will feature training simulations and various games. Disney’s technology will allow visitors to simulate and capture various plays, including slam dunks and shooting drills, and also view pre-game experiences in 180-degree cinematic. Developed in partnership with the NBA and WNBA, the experience is Disney’s first attempt to immerse Disney World attendees in the world of basketball, SportTechie reports.
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