By Netflix is in the middle of the most turbulent leadership reshuffle in its history. The streaming giant has pushed out chief content officer Bela Bajaria after a decade and tapped former Disney and Fox executive Peter Rice as her replacement — a messy transition that, per Variety, could send shockwaves through all of Hollywood, with NBCUniversal watching closely.
Rice takes over the global content organization on October 26, inheriting oversight of scripted and unscripted series, films, live events and sports across all regions.
Peter Rice (Credits: Getty Images)
A Decade of Bajaria Ends Amid 1,000 Layoffs
Bajaria joined Netflix in 2016 and was elevated to chief content officer in January 2023. Her tenure saw the platform expand its international programming with global hits like Squid Game and Bridgerton, plus an aggressive push into live programming through partnerships with WWE and the NFL.
But her exit came just a day after Netflix cut roughly 1,000 jobs — 6% of its workforce — the company’s largest round of layoffs since 2022. Engagement growth has slowed to just 2% in the first half of 2026, shares have shed more than 40% over the past year, and Netflix’s 2026 Emmy haul fell to 16 wins from 30 a year earlier.
Why Hollywood — and NBCU — Should Care
Rice arrives with a deep traditional-studio résumé: he ran Fox Searchlight, Fox Networks Group and Walt Disney Television, overseeing hundreds of shows across ABC, FX, Hulu and National Geographic. Variety’s analysis suggests the appointment signals a pivot back to film-and-TV fundamentals and a rebuilding of talent relationships — at a moment when Skydance is preparing to go toe-to-toe with Netflix after its industry-changing merger move on Warner Bros.
For NBCUniversal, the ripple effects are obvious: Bajaria herself came from NBCU’s Universal Television, and Rice’s old-school dealmaking approach could reshape how Netflix competes for talent, sports rights and blockbuster slates. With Netflix’s third-quarter earnings due October 20, Wall Street is about to get its first chance to weigh in on the chaos.
Also Read: Netflix Taps Veteran Peter Rice as Chief Content Officer, Setting Up a Culture Clash Over the Future of Movies | ‘True Detective’ Season 5: Antonio Banderas Joins Nicolas Cage as HBO Series Eyes 2027 Production Start
Source: Variety — read the full story there.
