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

Oct 15 : 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 per cent 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