Netflix appoints former Disney executive Peter Rice as new chief content officer

Netflix said chief content officer Bela Bajaria will depart after a decade with the company, and former Disney executive Peter Rice will take over the role. The change was announced a day after Netflix disclosed a 6% reduction in its workforce.

"Peter is one of the most effective at-scale operators in the entertainment industry," co-CEO Ted Sarandos said in a statement, adding that Rice’s business acumen, talent relationships and experience across TV and film are "deep and broad."

Bajaria, who joined Netflix in 2016 and became chief content officer in 2023, oversaw global content teams and helped expand the streamer’s international reach, live-event programming and non-English-language originals. Notable releases during her tenure include the 2025 animated film “KPop Demon Hunters” and the crime drama series “I Will Find You.”

Analysts note that Netflix has faced pressure to deliver more hit shows and increase viewer time as competition from other streaming services and free platforms such as YouTube intensifies. The company’s stock has fallen about 40% over the past year, though shares closed slightly higher on the day of the announcement.

Rice brings nearly three decades of experience in the media industry, including senior roles at 21st Century Fox and Fox Networks Group, and previously led Fox Searchlight Pictures. In a statement, he said Netflix has "fundamentally changed the way stories are made, shared and experienced around the world" and expressed enthusiasm for working with the team to deliver more stories to members.