Of nine companies not represented in Billboard’s top 10 of best-compensated music executives from public companies, the average CEO pay was $4.6 million.
earlier this year for an article about film and television companies’ executive compensation. One reason companies have similar compensation schemes is because they use one another as reference points. A board of directors’ compensation committee uses a peer group of similar companies when determining a level of appropriate, competitive executive pay.
As long as companies use this system, CEO pay will remain where it stands today, Charles M. Elson, professor of finance in the University of Delaware’s Alfred Lerner College of Business and Economics, told. “The benchmark that they measure themselves against is too high to make any substantive changes feasible.”
Not all music executives are in the league of Chapek, Hasting and Sarandos, however. Of nine companies not represented in’s top 10, the average CEO pay was $4.6 million. That excludes Spotify CEO Daniel Ek, who does not receive a salary . Predictably, compensation varied according to the company’s revenues and market capitalization. The lowest-ranked U.S. music CEO was LiveOne’s Robert Ellin with total compensation of $621,000. Outside of the U.S.
The recent bear market will take a bit out of many music executives’ take-home pay. Companies tend to value stock awards and options at the time of the grant. But what ends up in executives’ pockets could be drastically different. Spotify’s share price, for example, is down 52.9% year-to-date, for example. HYBE is down 54.7% mainly because BTS’s members are pursuing solo projects. Any HYBE executive with stock options – such as those on top 10 list – was wise to sell before that news broke.
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