Netflix names former Disney executive Peter Rice as new content chief as Bajaria departs

Netflix said on Thursday it appointed former Disney executive Peter Rice as chief content officer, succeeding Bela Bajaria, who is leaving after nearly a decade at the streaming platform.

Here are more details:

Rice will oversee Netflix's content strategy from October 26, including series, films and live events across regions


Previously, he served as chairman of Walt Disney Television and chairman of general entertainment at The Walt Disney Company

Meanwhile, Bajaria joined Netflix in 2016 and was named chief content officer in January 2023

During her tenure, Netflix released pop-culture hits such as "Bridgerton" and "Squid Game" and expanded live programming through multi-year partnerships with WWE and the NFL

The announcement comes a day after Netflix told staff in an internal memo that it was laying off 6% of its workforce, roughly 1,000 employees, marking its biggest job cuts since 2022

The streaming giant has faced doubts over its ability to sustain growth as engagement becomes a key concern for investors, with platforms such as YouTube and TikTok attracting viewers through free, user-generated content that gives them a cost advantage over Netflix