Netflix Bela Bajaria Exit: Peter Rice Named Content Chief

The netflix bela bajaria era is ending, as the streaming giant announced Thursday that chief content officer Bela Bajaria is leaving after nearly a decade, with former Disney and Fox executive Peter Rice named as her successor.

Netflix said Rice will oversee the company’s content strategy from October 26, spanning series, films and live events across regions.

A Decade of Blockbusters

Bajaria joined Netflix in 2016 and was named chief content officer in January 2023. She oversaw a content budget of roughly $20 billion, steering the platform through blockbuster releases including “Squid Game,” “Wednesday” and “Bridgerton.”

Under her tenure, Netflix pushed into live programming through multi-year partnerships with WWE and the NFL, broadening its slate beyond scripted series and films. The company also parted ways with film executives Doug Belgrad and Sheroum Kim as part of the shakeup.

“I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” co-CEO Ted Sarandos said in a statement.

Shakeup Amid Slowing Growth

Bajaria’s exit comes a day after Netflix told staff it was cutting 6% of its workforce — roughly 1,000 employees — in its biggest round of layoffs since 2022.

The company has faced investor doubts over slowing engagement, with free platforms like YouTube and TikTok drawing viewers away. Netflix’s stock is down nearly 40% over the past year, pressured further by its failed bid for Warner Bros. Discovery, which Paramount ultimately acquired this month.

Rice previously served as chairman of Walt Disney Television and chairman of general entertainment at Disney, after a career that began at Fox in 1989.

Source: Variety