Netflix has ousted Bela Bajaria from her position as chief content officer at the global streaming giant, replacing her veteran film and TV executive Peter Rice. Bela’s removal comes amid a record slowdown in viewership at Netflix and a recent large-scale layoff in the company.
Bela Bajaria’s ouster also comes in a week that saw the streaming TV giant lay off some 1,000 workers, about 6% of the total workforce. He assumes the new role on October 26, with a broad mandate, overseeing scripted and unscripted series, film and live events across all regions. Bela Bajaria was credited with broadening Netflix’s entertainment offerings by expanding its unscripted portfolio. She was instrumental in striking a deal with the TKO Group Holdings Inc. that brought WWE’s weekly wrestling show, Raw, to the streaming service. “To us, this is a step forward, or at least a shift in direction.
“Losing Bela Bajaria is a big change, but Peter Rice is very well regarded in the industry,” Alicia Reese, an analyst at Wedbush Securities, said by email. Netflix co-Chief Executive Officer Ted Sarandos told Bloomberg News that the company isn’t growing as fast as he would like.
Peter Rice previously served as chairman of general entertainment at Walt Disney Co., and, before that, as president of 21st Century Fox.
“Peter is one of the most effective at-scale operators in the entertainment industry. The streaming giant has been facing a tough time this year. The year also saw a 10-year low for the streaming at the Emmys, and their stock has fallen by 23% since the start of 2026.
He understands what makes stories resonate, and he’s spent his career helping talent do the best work of their lives,” Ted Sarandos said in a statement Thursday. Recent shows at Netflix have seen their audiences decline in their second seasons, according to Bloomberg.
