Peter Rice Named Netflix Chief Content Officer as Bela Bajaria Leaves

Netflix named Peter Rice its chief content officer on 15 October 2026, replacing Bela Bajaria, who is leaving the streamer after nearly ten years. Netflix said Rice will join as chief content officer effective 26 October.

The appointment follows the 14 October announcement of about 1,000 job cuts, roughly 6% of the workforce. For readers in film and television, the change puts one executive in charge of series, films and live events across every region.

Rice Brings Network and Studio Experience to the Role

Netflix’s announcement says Rice will lead its global content organisation, covering scripted and unscripted series, film, live events and more in all regions. He takes over from Bajaria on 26 October.

Rice was president of 21st Century Fox and chief executive of Fox Networks Group. Netflix’s announcement also lists his time as president of Fox Searchlight Pictures, which released Slumdog Millionaire, Juno, Little Miss Sunshine and Sideways. He later became chairman of Walt Disney Television and chairman of general entertainment at The Walt Disney Company. The announcement says he oversaw more than 300 shows and 4,000 hours of television a year. TheWrap says Bob Chapek let him go in 2022, and Variety reports that Disney ousted him that year. Since then he has worked as a producer, with credits that include 28 Years Later and Saturday Night.

Ted Sarandos, Netflix co-CEO, said in the company’s announcement that Rice is one of the most effective at-scale operators in the entertainment industry. In his own remarks, Rice said Netflix has changed how stories are made, shared and experienced around the world, and that the company is willing to take chances on distinctive voices.

Netflix’s Content Remit
Rice will lead Netflix’s global content organisation, overseeing scripted and unscripted series, film, live events and more across all regions, the company said.

Bajaria’s Tenure Spanned Scripted Hits and Live Sport

Bajaria joined Netflix in 2016 after she was let go from NBCUniversal, where she had been president of Universal Television. She was promoted to head of global content in 2020 and became chief content officer in 2023, after Cindy Holland left the company. Variety dates her move to the chief content officer role to January 2023.

TheWrap credits her tenure with series including Bridgerton, Arcane and Squid Game, and with partnerships with the NFL and WWE. Variety adds Stranger Things and Wednesday, and films including KPop Demon Hunters and Frankenstein. TheWrap also cites a push into live programming, including NFL games, the 2027 FIFA Women’s World Cup and select MLB games. Netflix’s announcement describes her work as broadening content to include unscripted programming, live events and sports.

Netflix’s announcement thanks her for a decade of service. Variety links the change to slowing Netflix growth and fading buzz around original programming. It also reports that Netflix won 16 Primetime Emmys in 2026, down from 30 in 2025, its lowest total since 2016.

The Job Cuts Are Expected to Hit Product, Technology, Legal and HR Teams Hardest

Netflix announced the cuts on 14 October in a memo from co-CEOs Greg Peters and Ted Sarandos, according to ABC30. The Wall Street Journal first reported the news, and the Associated Press obtained the memo. The cuts total about 6% of the workforce, or nearly 1,000 positions, out of about 16,000 full-time employees at the end of 2025. ABC30 describes them as part of wider organisational changes. ABC30 reports that product, technology, legal and human resources teams would be the most impacted.

Variety calls the cut the largest layoff to date at Netflix and reports that film vice president Doug Belgrad and film director Sheroum Kim were laid off. TheWrap ties the cuts to slowing engagement and says Netflix’s stock has fallen nearly 40% over the past year.

Netflix’s second-quarter earnings were $3.4 billion on $12.56 billion in revenue, according to ABC30, and its third-quarter forecast fell below Wall Street’s expectations. The content appointment followed the next day. One executive will now oversee the whole content slate, from series and films to live events.

One executive will now oversee the whole content slate, from series and films to live events.

Skydance’s Warner Bros. Discovery Deal Closes

Paramount completed its acquisition of Warner Bros. Discovery on 6 October 2026, and the combined company is now named Skydance, according to the Associated Press as carried by WDBO. David Ellison and co-CEO Ynon Kreiz will control the company.

CNN explained that the deal brings about $80 billion in debt and a fast timeline to pay it. Management is expected to cut costs, including streamlining overlaps between Paramount and Warner. CNN reported that Kreiz said the company aims to become a technologically capable media company on a modern tech platform.

TheWrap ties Netflix’s content shift to Skydance’s plans to go toe-to-toe with the streamer. Netflix plans to report third-quarter earnings next week, according to ABC30.

Photo: James Cridland · CC BY 2.0 · via Wikimedia Commons