Netflix has a new chief content officer, and he used to work for Mickey Mouse. The streamer announced Thursday that Peter Rice, the former Disney and Fox executive, will replace Bela Bajaria on Oct. 26, according to CNBC. Our earlier look at the handoff has more on how the move came together.
Bajaria is leaving after nearly 10 years. Rice will take over Netflix’s global content business, covering scripted and unscripted series, film and live events in every region, Variety reports.
Who is Peter Rice, the new Netflix chief content officer?
Rice is a Hollywood heavyweight. At 21st Century Fox, he was president of the company and CEO of Fox Networks Group. Before that, he ran Fox Searchlight Pictures, the shop behind “Slumdog Millionaire,” “Juno,” “Little Miss Sunshine” and “Sideways,” per TheWrap.
That is a shelf most executives would happily dust.
His last full-time job was chairman of Walt Disney Television and General Entertainment. Disney fired him in June 2022, and Dana Walden took his seat, Deadline notes. Since then he has worked as a film producer on projects like “Saturday Night,” “Warfare” and “28 Years Later.” In July 2025, he was also named head of ceremonies and content for the LA28 Olympic and Paralympic Games.
What Netflix says about its new content boss
Co-CEO Ted Sarandos did not hold back in his praise. “Peter is one of the most effective at-scale operators in the entertainment industry,” he said, adding that Rice’s talent relationships are “exceptionally strong.” Rice, for his part, said Netflix “has fundamentally changed the way stories are made, shared and experienced around the world.”
Still, notice what is missing from the praise: streaming. Deadline points out that Rice has limited streaming experience. That is Deadline’s assessment, not Netflix’s.
Even so, it is a fair question to ask about the new Netflix head of content, because the company lives and dies by its streaming library.
Bajaria’s exit and the timing
Bajaria joined Netflix in 2016 from NBCUniversal, became head of global TV in 2020 and took the chief content officer title in January 2023. Her run included “Bridgerton,” “Arcane” and “Squid Game,” plus deals with WWE and the NFL, Yahoo reports. Bloomberg calls her the public face of Netflix’s content strategy.
Her exit also lands in the same week as Netflix’s biggest layoff ever. About 1,000 employees, or roughly 6% of the workforce, were cut, including film executives Doug Belgrad and Sheroum Kim, according to Variety.
Then there is the stock. Screen Daily reports Netflix shares are down nearly 40% over the past year. The same report describes sluggish engagement growth in the first half of 2026. It also notes that Netflix dropped its pursuit of the Warner Bros. studios in February.
Here is a detail worth keeping straight. Some outlets say Bajaria was fired. Others simply say she is leaving. Netflix has not given a reason for her departure, and no statement from Bajaria turned up in the coverage. So “fired” is an outlet’s characterization, not something Netflix has confirmed.
Why the Netflix programming boss matters to you
Here’s the thing: if you pay for Netflix, this matters more than a corporate org chart usually does. The person who decides what gets greenlit decides what fills your queue, and Netflix is clearly hunting for hits. Because Rice came up through broadcast and the movie business, he suggests a company that wants more big, event-style programming and more tentpole films.
That is the bet, anyway. Whether a studio and network guy can crack the streaming code is the question Netflix just handed to its shareholders.
What happens next
Rice starts Oct. 26. Netflix reports third-quarter earnings on Tuesday, Oct. 20, and Screen Daily expects analysts to press Sarandos and co-CEO Greg Peters about the leadership change and the layoffs. That call should be lively.
One more unanswered item: the sources do not say whether Rice keeps his LA28 role alongside the Netflix job. Can one person run Netflix’s content and an Olympic opening ceremony? Even a Hollywood veteran only has so many hours in a day.
