John Malone’s Liberty Media – owner of the audio entertainment powerhouse SiriusXM, the Atlanta Braves baseball team and the Formula 1 race circuit – has announced that President and CEO Gregory Maffei’s compensation package for 2022 was $22.4 million, compared to $21 .6 million in 2021 and $47.1 million in 2020.
He had earned $44.0 million in 2019, $20.1 million in 2018, $19.8 million in 2017 and $16.9 million in 2016. The latest annual payment details were disclosed in a filing with the Securities and Exchange Commission .
The company also disclosed annual compensation for Chairman Malone, which was $1.3 million, compared to $1.1 million in 2020 and 2021, as well as $1.4 million in 2019.
Liberty’s 2022 revenue increased from $11.4 billion to $12.2 billion. Net income of $2.0 billion for the year was up from $744 million in 2021.
Veteran media mogul Malone has often spoken out about the need for more consolidation in the media and entertainment industry to increase scaling in the streaming era. As Discovery’s largest individual shareholder, he also supported the mega-merger of Discovery and AT&T’s WarnerMedia to form Warner Bros. Discovery, led by Discovery CEO David Zaslav and CFO Gunnar Wiedenfels, which closed in April 2022.
In November, Malone said the streaming space is hampered by too many competitors, and that online video giants will fare better after the industry’s inevitable consolidation. “There’s a lot of blood flowing down the gutters right now, from people who are streaming, and some can afford it and some can’t,” Malone told Liberty Media’s Investor Day.