Proactive Investors - Netflix Inc (NASDAQ:NFLX) investors voted against the streaming services' proposed salaries for its top executives at its annual general meeting on Thursday.
The vote, which is non-binding, marks the second year running that shareholders have rejected management's pay packages.
Last year only 27% of Netflix stakeholders voted in favour leading to the board making a series of changes.
Investors have specifically criticised the pay of co-chief executive officers Ted Sarandos and Greg Peters, whose total proposed salaries are US$40mln and US$34.6mln respectively, according to The New York Times.
Chairman and former CEO Reed Hastings is hoping to take home US$3mln in pay.
The increase in pay comes despite the company’s subscriber count sinking sparking a sell-off n the shares.
Netflix is also battling a fifth week of strikes by the Writers Guild of America (WGA) which is fighting for improved pay from production companies like Netflix.
WGA West president Meredith Stiehm argued that the streaming company’s proposals on pay are more “egregious” considering the background of the strikes.
She said: “Netflix is asking shareholders to give retroactive advisory approval… totalling over $166 million.
“By contrast, the proposed improvements the WGA currently has on the table would cost Netflix an estimated $68 million per year.”
The exact percentage of voting in the pay resolution is expected to be released in an upcoming SEC filing.