Netflix appoints Peter Rice as chief content officer amid layoffs
Netflix has named former Disney and Fox executive Peter Rice as its new chief content officer, succeeding Bela Bajaria as the company reduces its workforce by about 1,000 jobs.
Netflix announced that Peter Rice will take over as chief content officer, replacing Bela Bajaria after a decade with the streaming service. Rice, who previously held senior roles at Disney, Fox and other media companies, will oversee the global content organization, including scripted and unscripted series, films, live events and related operations.
The leadership change coincides with a company-wide reduction of roughly 1,000 positions, about 6% of Netflix’s staff, marking the largest layoff in its history. In a statement, co-CEO Ted Sarandos thanked Bajaria for her ten years of service, noting her role in expanding unscripted programming, live events and sports, and in building a global slate of films and series.
"I want to thank Bela for a decade of dedication, innovation, creativity and leadership," Sarandos said. "She led enormous changes at Netflix... I’m incredibly grateful for everything she’s done to help Netflix entertain the world."
Bajaria joined Netflix in 2016 after leaving NBCUniversal and was instrumental in launching the company’s unscripted division and securing licensing and co-production deals. Under her tenure, Netflix released series such as "Bridgerton," "Squid Game," "Stranger Things" and "Wednesday," as well as live sports and events.
Sarandos added that the transition presents an opportunity to elevate the content slate, particularly in the United States and Canada.
"Peter is one of the most effective at-scale operators in the entertainment industry. His business acumen is sharp, his talent relationships are exceptionally strong, and his experience across TV and film is deep and broad," Sarandos said. "I’m excited to welcome him to Netflix as chief content officer as we continue to scale and deliver members more of the stories they love."
Rice, who was dismissed from Disney in 2022, has produced films for Sony and A24 and is involved in projects such as Alex Garland’s "Elden Ring" and the opening ceremonies for the LA28 Olympic and Paralympic Games. He expressed enthusiasm for Netflix’s approach to storytelling.
"Netflix has fundamentally changed the way stories are made, shared and experienced around the world. They’ve shown again and again that they’re willing to take chances on distinctive voices and fresh ideas, and I’m excited to work with the team to help bring even more great stories to members everywhere," Rice said.