Netflix wants to hire a financial analyst whose job will be to estimate the cost of residual payments under the studios’ new agreements for streaming productions with Hollywood unions.
In the job listing, posted last week, Netflix said the financial analyst for residuals will be “a key member in our Contingent Compensation & Reporting Department” whose main responsibilities will be “interpreting and analyzing residual impact in accordance with various guilds, unions and production service agreements and execute accordingly.”
As Netflix explains, “Residuals are additional compensation paid to talent for the reuse of content beyond the use covered by their initial compensation based on collective bargaining agreements with various guilds/unions, i.e. SAG-AFTRA, DGA and WGA.”
Under the AMPTP’s agreement with the Writers Guild of America, writers will receive a “success-based” bonus for original streaming titles that are viewed by 20% or more of the service’s domestic subscribers in the first 90 days of release (or the first 90 days of any subsequent year the title is on the platform). Writers will receive a bonus ranging from $9,000-$16,400 for TV episodes and $40,500 for feature films with a budget over $30 million. Meanwhile, the deal with SAG-AFTRA includes a $40 million residual bonus pool for actors on streaming shows in the first year of the agreement, which was significantly less than the union originally was seeking.
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According to Netflix’s job listing, the annual salary range for the role is $60,000 to $290,000. As part of forecasting and estimating residuals costs, the financial analyst for residuals will be tasked with working with production accountants and producers to gather required information for residual setups. The analyst also will “collaborate across various business units within Netflix” and work with third-party payment processors to provide relevant setup data, and ensure complete and accurate setup for residual payments.
Applicants for the role must have at least two years of experience and a bachelor’s degree in accounting, finance, business administration or similar degree and/or equivalent combination of education and experience, per the job listing. Other requirements include experience with financial analysis and modeling, “excellent Excel and Google web-based program skills” and “strong communication and presentation skills, both verbal and written.”
