By Gary Symons
TLL Editor-in-Chief
Netflix is going through a major shakeup as the streamer’s veteran Chief Content Officer has been replaced by former Disney and Fox exec Peter Rice.
Netflix said in a statement that Rice, a widely respected entertainment veteran, will take on the position on Oct. 26, taking on a role held by Bela Bajaria since 2023.
Given the increased licensing activity of Netflix in recent years, and its status as the world’s top streaming company, the appointment is a big deal both for the entertainment and the licensing industries.
Bajaria leaves Netflix after nearly a decade, and is credited for being a major part of the company’s success in growing its content offerings while competing studios created competing streaming services, and withdrew their content from Netflix.
“I want to thank Bela for a decade of dedication, innovation, creativity and leadership,” said Ted Sarandos, co-CEO of 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.
“I’m incredibly grateful for everything she’s done to help Netflix entertain the world.”
Bajaria joined Netflix in November 2016 to oversee Netflix’s push into unscripted programming. She went on to oversee local language original programming before taking on the role as Head of Global TV, leading the teams responsible for hit series like Squid Game, Stranger Things, Wednesday, Bridgerton, La Casa de Papel, and Cobra Kai. Bajaria took on the role of Chief Content Officer in 2023.
No reason was given for bringing in a new chief content officer, but the move comes as Netflix’s growth rates have slowed over the past year. Viewer engagement increased by just 2 percent in the first half of 2026, prompting Sarandos to admit the platform is “not growing as fast as I want it to.”
Shareholder pressure may have played a role too, as the share price is down more than 40% since last year, after Netflix made a failed bid for Warner Bros. This past week, Netflix laid off about 1,000 employees.
Nevertheless, Netflix remains the world’s top streamer, and it is betting that a content superstar like Rice can help it regain its growth mojo.
As Chief Content Officer, Rice will lead Netflix’s global content organization, overseeing scripted and unscripted series, film, live events and more across all regions.
Rice says he’s excited to be joining an innovative company that redefined how viewers access content.
“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.
“I’m grateful to Bela for building such a remarkable global team, and I look forward to building on everything she and the team have created,” Rice added.
Sarandos said he believed Rice was the ideal person to lead the Netflix content team.
“Peter is one of the most effective at-scale operators in the entertainment industry,” Sarandos said. “His business acumen is sharp, his talent relationships are exceptionally strong, and his experience across TV and film is deep and broad. He understands what makes stories resonate, and he’s spent his career helping talent do the best work of their lives.
“I’m excited to welcome him to Netflix as chief content officer as we continue to scale and deliver members more of the stories they love.”
There’s no denying Rice brings a weighty track record to the job. He was most recently the chairman of Walt Disney Television and chairman of General Entertainment for the Walt Disney Company. In that position, he oversaw top TV organizations including ABC, FOX Broadcasting, Fox Sports, ABC News, ABC Studios, Disney Channel, Freeform, FX Networks, Hulu, National Geographic, Onyx Collective, Disney Television and Twentieth Century Fox Television. He also chaired the boards of A&E Networks and National Geographic Partners.
Earlier in his career, Rice served as president of 21st Century Fox and CEO of Fox Networks Group, and was Fox’s lead executive on the Hulu board.
Rice has also worked in the feature film side of the business as president of Fox Searchlight Pictures, releasing Slumdog Millionaire, Juno, Little Miss Sunshine and Sideways.
As executive vice president of Production at Twentieth Century Fox, he worked with Baz Luhrmann on Moulin Rouge and Romeo + Juliet and with Danny Boyle on The Beach. He was also the supervising creative executive on the first X-Men film, which was considered one of the groundbreaking films that helped redefine the superhero genre.
The post Who’s News: Netflix Replaces Its Chief Content Officer appeared first on The Licensing Letter.