After Amedeus moved to Nove as artistic director, the focus shifted to David Zaslav’s salary increase at Warner Bros Discovery. According to SEC filings, Zaslav’s annual compensation rose by 27% to $49.7 million in 2023. The increase was partly due to the company’s decision to prioritize debt reduction and cash flow. Despite this positive financial news, Warner Bros Discovery reported an 86% increase in free cash flow to $6.16 billion in 2023, mainly due to cost reductions during the Hollywood strikes that halted production for months. However, the company experienced a larger-than-expected quarterly loss of $400 million in February due to factors like the decline of cable TV, a slow advertising market, and the aftermath of the strikes.
In addition to his salary increase, Zaslav also saw an increase in stock awards to $23.1 million, up from $12 million the previous year. The company’s shares rose by 20% over the past year as well. Although Zaslav’s compensation for 2023 nearly reached $50 million, it was still short of his record-setting pay in 2021 of $246.5 million.
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