by Thinus Ferreira
In a big Netflix shocker, the video streaming service's chief content officer Bela Bajaria is out and getting replaced by Peter Rice, the former Disney and Fox executive.
Bela Bajaria was at Netflix for a decade since 2016, and became chief content officer in 2023.
Bela Bajaria's exit from Netflix comes as the streamer is getting rid of 1 000 staffers worldwide, roughly 6% of its workforce and Netflix's largest retrenchment ever as growth slows.
"I want to thank Bela for a decade of dedication, innovation, creativity and leadership," says Ted Sarandos, Netflix co-CEO, in an internal memo sent to Netflix staffers.
"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."
"Bela has built and shaped a truly global content organisation, hiring brilliant people and empowering them to make good decisions. I am incredibly grateful to her for everything she's done to help Netflix entertain the world."
"I know this is a big change in a year that has already had its share. But I also see an opportunity to take our slate to the next level, especially in UCAN [United States and Canada] where we have an outsize impact in creating big, buzzy hits that our members love and drive conversation around the world."
"Peter is one of the most effective at-scale operators in the entertainment industry."
"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."
"I've gotten to know Peter personally over the years, and I’ve always been impressed by his straightforward approach, the depth of his relationships and his exceptional creative and business instincts."
"Talent should have the best experiences of their life here, and Peter and I both believe that Netflix can and should be the home of the best storytellers in the world."
"It's been an eventful series of days here, and I realise we've asked you to absorb a lot of news and a lot of information. But we all know change is what we do at Netflix."
"Greg and I will host a companywide town hall on Wednesday, 21 October. I want everyone to hear how we're thinking about the strategy and our execution amid this week's changes, and to have a chance to ask questions. It will be informal and mostly Q&A, so please bring your questions about this week's changes and anything else on your mind."
Peter Rice was the chairman of Walt Disney Television and chairman of general entertainment for The Walt Disney Company until he was fired in June 2022.
Peter Rice says "Netflix has fundamentally changed the way stories are made, shared and experienced around the world".
"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."