Bela Bajaria Exits Netflix as Peter Rice Takes Content Helm

By Elena Vasquez

Bela Bajaria is leaving Netflix after 10 years, and former Disney and Fox executive Peter Rice will replace her as chief content officer. Puck first reported the shake-up. Rice will lead Netflix's global content organization, covering scripted and unscripted series, film, live events and more across all regions.

The exit coincides with the largest layoff in Netflix's history. Around 1,000 employees — 6% of the company — lost their jobs this week. Film VP Doug Belgrad and film director Sheroum Kim were also cut in the restructuring.

Who is stepping in?

Rice arrives with one of the longest résumés in American television. Disney fired him in 2022, when then-CEO Bob Chapek ousted him as chairman of Walt Disney Television and chairman of general entertainment — a move that shocked the industry given his stature.

At Disney, Rice oversaw ABC, FOX Broadcasting, Fox Sports, ABC News, ABC Studios, Disney Channel, Freeform, FX Networks, Hulu, National Geographic, Onyx Collective and Twentieth Century Fox Television. His portfolio spanned more than 300 shows and 4,000 hours of television per year — roughly 11 hours of programming every day. His tenure included "The Simpsons," "Modern Family," "This Is Us," "The Bear," "Abbott Elementary," "Shogun" and "Only Murders in the Building," plus the Super Bowl, NBA Finals and FIFA World Cup Finals.

Earlier, Rice served as president of 21st Century Fox, CEO of Fox Networks Group and Fox's lead executive on the Hulu board. He ran Fox Searchlight Pictures, where he shepherded "Slumdog Millionaire," "Juno," "Little Miss Sunshine" and "Sideways."

Since leaving Disney, Rice produced Jason Reitman's "Saturday Night," "28 Years Later" and its sequel "The Bone Temple" at Sony, plus "Warfare" and Chris Rock's "Misty Green" at A24. He is currently producing Alex Garland's "Elden Ring," Sonoya Mizuno's "Stages," and the opening and closing ceremonies for the LA28 Olympic and Paralympic Games.

The takeaway: Netflix has hired an operator who has run broadcast, cable, streaming and film operations at the highest scale in the industry.

What did Bajaria build?

Bajaria joined Netflix in 2016, shortly after NBCUniversal dismissed her as president of Universal Television — a role in which she produced Netflix-aired shows including "Unbreakable Kimmy Schmidt" and "Master of None." Co-CEO Ted Sarandos brought her in to launch an unscripted division and build licensing and studio co-productions. She became head of global TV in 2020, replacing the departing Cindy Holland, and was named chief content officer in January 2023.

Her slate included "Bridgerton," "Squid Game," "Adolescence," "Beef," "Stranger Things" and "Wednesday," along with films such as "KPop Demon Hunters" and "Frankenstein." She also pushed Netflix into live events and sports, including "The Roast of Tom Brady" and deals with the NFL and WWE.

Sarandos credited her directly. "I want to thank Bela for a decade of dedication, innovation, creativity and leadership," he said in a statement. "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."

The takeaway: Bajaria leaves behind the programming identity Netflix built over a decade of global expansion.

Why now?

The numbers explain the timing. Netflix won 16 Primetime Emmy Awards this year, down from 30 in 2025 and far from 2021, when it tied the record for most Emmys won by an outlet in a single year with 44. The 2026 total marks Netflix's lowest Primetime Emmy haul since 2016 — a decade-low that tracks with slowing subscriber growth and a diminished aura around its originals.

Sarandos acknowledged the strain in a memo to staff. "I know this is a big change in a year that has already had its share," he wrote. "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."

On Rice, Sarandos was emphatic: "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."

Rice framed the move in terms of creative risk. "Netflix has fundamentally changed the way stories are made, shared and experienced around the world," he said. "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."

The takeaway: with 1,000 jobs cut and a decade-low Emmy count, Netflix has pinned its next chapter on a proven scale operator — and the industry will watch whether Rice can reverse the awards slide that cost Bajaria her post.