Netflix appoints Peter Rice as Chief Content Officer

Netflix has named veteran executive Peter Rice as its new chief content officer, succeeding Bela Bajaria, who held the position for nearly a decade. Rice, formerly the chairman of general entertainment at Walt Disney Co. and a former president of 21st Century Fox, is scheduled to assume the role on October 26.

In his new capacity, Rice will oversee scripted and unscripted series, films, and live events across all global regions. Netflix Co-CEO Ted Sarandos described Rice as an expert in both “art and commerce” with a unique ability to manage large-scale operations across network, cable, streaming, and theatrical formats.

The leadership change occurs alongside a period of restructuring for the streaming giant, which recently laid off approximately 1,000 employees. This transition follows a year of challenges for Netflix, including a decline in Emmy Award wins and a significant drop in stock value. Analysts suggest the appointment may signal a strategic shift toward more varied content and potential future acquisitions.