Peter Rice Will Blend “Art And Commerce” In Heading Content For Netflix, Ted Sarandos Says

Netflix co-chief executive Ted Sarandos said newly appointed content chief Peter Rice will balance creative priorities with commercial goals as the company reshapes its film and television operations. The appointment comes amid a wider management shake-up and job cuts, while investors reacted negatively to Netflix’s lower forecasts despite solid third-quarter results.

Rice replaces Bela Bajaria, who had led content for a decade, and can influence titles due in the fourth quarter and in 2027, Sarandos said. He described Rice as experienced across television, film, streaming and live sport, and praised his relationships with creative talent. Sarandos said Netflix’s overall strategy remains sound, but the company needs stronger execution in the US as viewer growth slows.