Netflix appoints Peter Rice as chief content officer amid layoffs and leadership shake-up
Peter Rice, former Fox executive, replaces Bela Bajaria as Netflix’s chief content officer as the streamer implements a 6% workforce reduction and prepares for its upcoming earnings report.
Netflix announced that Peter Rice will assume the role of chief content officer, succeeding Bela Bajaria. Rice, who previously led Fox Searchlight and Fox Networks Group before a brief stint at Disney, was hired shortly after a dinner meeting with Skydance CEO Ynon Kreiz. The appointment follows a series of senior-level changes at the streamer, including the recent dismissal of Bajaria and a 6% cut of the workforce, roughly 1,000 jobs, announced ahead of the company’s third-quarter earnings.
According to sources, Bajaria learned of her departure during a meeting with co-CEO Ted Sarandos at Netflix’s Hollywood offices. She has not commented publicly. The transition occurs as Netflix faces speculation about future acquisitions, with some analysts pointing to NBCUniversal as a potential target after its planned spin-off from Comcast.
Rice’s first internal memo referenced the need to deliver more “buzzy hits” for the U.S. and Canada market, prompting observers to question whether the streamer will maintain its aggressive local-language content strategy under his leadership. Industry insiders say Jinny Howe, who oversees original U.S. and Canada series, is expected to retain her position, while Dan Lin, head of film, may depart as Rice settles in.
The changes come as Netflix prepares to launch several high-profile titles, including Greta Gerwig’s "Narnia: The Magician’s Nephew," Meryl Streep’s "The Corrections," and Martin Scorsese’s "The Roman."