Netflix has replaced Chief Content Officer Bela Bajaria with Peter Rice, a veteran Disney and Fox executive, a day after it cut about 1,000 jobs in what Variety described as the streamer’s largest layoff.
Netflix announced Thursday that Rice will join as chief content officer effective October 26. Bajaria, who led the company’s global content team, is leaving after nearly 10 years, according to Netflix’s announcement. Variety reported that Puck was first to report the change.
Rice will oversee scripted and unscripted television series, film and live events in every region. “Peter is one of the most effective at-scale operators in the entertainment industry,” co-CEO Ted Sarandos said. Rice said Netflix has shown it is “willing to take chances on distinctive voices and fresh ideas.”
Rice was most recently chairman of Walt Disney Television, where he oversaw ABC, FX, Hulu and National Geographic, along with shows such as Abbott Elementary and Shogun. Earlier, as head of Fox Searchlight Pictures, he released films including Slumdog Millionaire and Juno. Variety reported that he left Disney in 2022 after then-CEO Bob Chapek removed him, and has since worked as a producer on projects including A24’s Warfare.
Bajaria joined Netflix in 2016 from NBCUniversal, became head of global television in 2020 and was named chief content officer in January 2023, Variety reported. Sarandos credited her with expanding unscripted programming and launching live events and sports. Her slate included Bridgerton, Squid Game and KPop Demon Hunters, and her successor inherits a live programming push that is still taking shape.
The change lands as pressure builds on the company. Netflix shares hit a 52-week low in July after a revenue miss, and CNBC reported they are down more than 20% this year. The company reports quarterly earnings on Tuesday.
Variety also reported that Netflix won 16 Primetime Emmy Awards this year, down from 30 in 2025 and its lowest total since 2016. Deadline reported that layoff-weary staff are bracing for more upheaval after Bajaria’s exit.
In a memo to employees, Sarandos called it “a big change in a year that has already had its share.” He said he saw an opportunity to take the slate to the next level, especially in the United States and Canada, where he said Netflix has an outsize impact in creating big hits.
