Netflix has named Peter Rice, the former chairman of Walt Disney Television, as its chief content officer. The company announced the move on Thursday. Rice will run its global content organisation, from scripted and unscripted series to film and live events.
Bela Bajaria, who has held the role since January 2023, is leaving after nearly 10 years at Netflix. Puck first reported her exit.
“I want to thank Bela for a decade of dedication, innovation, creativity and leadership. She led enormous changes at Netflix.” Ted Sarandos, Netflix co-CEO, in a statement
Who Peter Rice is
At Disney, Rice oversaw ABC, FX, Hulu, National Geographic and Disney Channel, according to Netflix. That added up to more than 300 shows a year. Before that, he was president of 21st Century Fox. He also ran Fox Searchlight Pictures, which released Slumdog Millionaire and Juno.
Rice graduated from the University of Nottingham in 1989. He left Disney in 2022, when Bob Chapek, then its chief executive, ousted him. Since then he has produced films including Saturday Night and 28 Years Later, Variety reported. He is also producing Alex Garland’s Elden Ring and the ceremonies for the 2028 Los Angeles Olympics.
“Netflix has fundamentally changed the way stories are made, shared and experienced around the world.” Peter Rice, in a statement
A week of change at Netflix
In a memo to staff, Sarandos said he saw a chance to take the slate to the next level, Variety reported. He pointed above all to the US and Canada.
“I know this is a big change in a year that has already had its share.” Ted Sarandos, memo to staff
A day earlier, Netflix said it would cut about 6% of its staff, or roughly 1,000 jobs. CNBC obtained that memo, from Sarandos and co-chief executive Greg Peters. Most of the cuts fall on product, technology, legal and HR teams. It is the biggest round of cuts since 2022. Puck had reported earlier this month that layoffs were coming. The two co-chiefs wrote that the business was strong and growing, and on track for its full-year forecast.
Sarandos said at a Bloomberg conference last month that Netflix was not growing as fast as he wanted. In July, the company gave a soft third-quarter forecast.
In February, Netflix lost a bidding war for Warner Bros. Discovery’s studios and streaming business to Paramount Skydance. Netflix reports its third-quarter results on Tuesday.