TLDR:
- Netflix is hiring a financial analyst to estimate the cost of residual payments under the new streaming agreements with Hollywood unions.
- The financial analyst will be responsible for interpreting and analyzing residual impact in accordance with various guilds and unions.
Netflix is looking to hire a financial analyst to estimate the cost of residual payments for its streaming productions. This comes after the studio recently struck deals with the Writers Guild of America (WGA) and the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA). Residual payments are additional compensation paid to talent for the reuse of content beyond the initial compensation covered by collective bargaining agreements with guilds and unions.
Under the new agreement with the WGA, writers will receive a “success-based” bonus for original streaming titles that reach 20% or more of the service’s domestic subscribers within the first 90 days of release. The bonus ranges from $9,000 to $16,400 for TV episodes and $40,500 for feature films with a budget over $30 million.
The deal with SAG-AFTRA includes a $40 million residual bonus pool for actors on streaming shows in the first year of the agreement. However, this is significantly less than what the union had originally sought.
In order to estimate residual payments accurately, Netflix is hiring a financial analyst who will work with production accountants and producers to gather necessary information for residual setups. The analyst will also collaborate across various business units within Netflix and work with third-party payment processors to ensure complete and accurate setup for residual payments.
Applicants must have at least two years of experience and a bachelor’s degree in accounting, finance, business administration, or a similar field. They should also have experience with financial analysis and modeling, proficiency in Excel and Google web-based programs, and strong communication and presentation skills. The annual salary range for the role is $60,000 to $290,000.
Overall, Netflix’s decision to hire a financial analyst for residuals reflects its commitment to fulfilling its obligations to guilds and unions and ensuring fair compensation for talent. This move also highlights the growing importance of streaming productions and the need for accurate financial analysis in the industry.
