Netflix Names Peter Rice as New Global Content Chief
The executive takes creative leadership amid engagement hurdles and internal restructuring at the streaming giant.
Global markets Editor: Fabricio Marcilio 1 min read
Netflix has announced the hiring of Peter Rice as its new head of global content. The executive will oversee the platform's series, films, and live events. He replaces Bela Bajaria, who led the company's content strategy for the past decade.
Rice brings experience from Disney and held leadership roles at 21st Century Fox and Fox Networks Group. His background includes managing acclaimed productions and serving on the board of Hulu. This transition comes as the company seeks solutions to stagnant audience growth.
This leadership shift follows a period of severe operational adjustments within the organization. The company recently cut approximately 1,000 employees, representing 6% of its global workforce. Analysts note that this move reflects structural changes in the company's cost base.
Recent data shows that Netflix's audience growth was only 2% in the first half of the year. Management is struggling to launch productions with high cultural impact. Co-CEO Ted Sarandos publicly acknowledged that the current pace of expansion is below the company's expectations.
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