Netflix said on Thursday, October 15, 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.
\n\nRice will oversee Netflix’s content strategy from October 26, including series, films and live events across regions.
\n\nPreviously, he served as chairman of Walt Disney Television and chairman of general entertainment at The Walt Disney Company.
\n\nMeanwhile, Bajaria joined Netflix in 2016 and was named chief content officer in January 2023.
\n\nDuring 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
\n\nThe announcement comes a day after Netflix told staff in an internal memo that it was laying off 6% of its workforce, roughly 1,000 employees, marking its biggest job cuts since 2022.
\n\nThe 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.
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Original source: https://www.cnbctv18.com/entertainment/
