Warner Bros Board Takes Executive Pay Rejection Vote ‘Seriously’

Warner Bros (WBD) Board of Directors has said it will take a shareholder vote that rejected its executive team’s 2024 pay package “seriously.” That’s despite the vote being nonbinding, meaning that Warner Bros doesn’t have to follow the will of its shareholders when it determines executive pay.

Even so, the shareholder vote is a symbolic gesture that highlighted the lack of support the company’s leadership team has. Over 80% of WBD shareholders voted on the matter, and more than 59% of those investors voted against the pay package.

Warner Bros CEO David Zaslav received $51.9 million in compensation for 2024. That’s despite the roughly 9% dip WBD stock suffered in 2024. The shares also haven’t performed well in 2025, with WBD down 5.96% year-to-date.

Investors Are at Odds With Leaders

Growing shareholder frustration isn’t a positive sign for WBD stock and signals that investors aren’t pleased with the leadership team’s governance of the company. While that isn’t an issue yet, it could result in problems for Warner Bros down the road if it doesn’t increase shareholder satisfaction.

Interestingly, Warner Bros isn’t the only entertainment company with unhappy investors. Netflix (NFLX) shareholders voted against its executive pay package in 2023, and Disney (DIS) shareholders did the same in 2018. While these votes were also nonbinding, they show a pattern of disconnect between entertainment company leaders and investors.

WBD vs. Netflix vs. Disney: Which is the Best Entertainment Stock?

Using the TipRanks comparison tool, traders will see how analysts feel about each of these major entertainment stocks. Warner Bros’ consensus Moderate Buy rating would seem to place it behind Netflix and Disney, which each have Strong Buy ratings. However, its $12.50 price target offers a higher upside potential at 25.75%, compared to $1,227.06 (0.75% upside) for NFLX and $124.53 (9.62% upside) for Disney.

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