Netflix names Peter Rice as Chief Content Officer

Rice joins Netflix on Monday 26 October 2026, replacing Bela Bajaria, who is leaving the streamer after nearly 10 years of leading its global content team. 

His appointment comes amid slower subscriber growth at Netflix, and ahead of the streamer announcing its quarterly earnings on Tuesday 20 October 2026. It also comes just days after Netflix laid off roughly 1,000 employees, or 6% of its workforce.

Rice was most recently Chairman, Walt Disney Television, and Chairman, General Entertainment, The Walt Disney Company, overseeing networks, channels, and platforms including ABC, Fox Broadcasting, Fox Sports, ABC News, Disney Channel, FX Networks, Hulu, and National Geographic.

He is a former President of 21st Century Fox and CEO of Fox Networks Group, and President of movie division, Fox Searchlight Pictures.

Bajaria was in charge of Netflix’s $20bn content budget, overseeing series like Stranger Things, Bridgerton, Squid Game, and Adolescence. Bajaria also helped push Netflix into live sports and events, including deals with the WWE, FIFA, and the NFL.

“I want to thank Bela for a decade of dedication, innovation, creativity, and leadership,” said Ted Sarandos, Co-CEO, Netflix. “She led enormous changes at Netflix. She helped broaden our content offering to include the large-scale expansion of unscripted programming and the launches of live events and sports, in addition to crafting and running a world-class, global slate of films and series.”

“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,” added Sarandos. “He understands what makes stories resonate, and he’s spent his career helping talent do the best work of their lives.”

“Netflix has fundamentally changed the way stories are made, shared, and experienced around the world,” said Rice. “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.”

In its biggest round of cuts since 2022, Netflix has axed approximately 6% of its employees, including big hitters like Carolina Garcia, Director, Original Series, Netflix, who has been with the streamer for 10 years and oversaw The Duffer Brothers’ Stranger Things. Discover more here.