Netflix replaces content chief as share price and engagement slide

· Finance · United States

Netflix is replacing chief content officer Bela Bajaria with Peter Rice, a former Fox and Disney executive, the company said. The change at the top of its film and television operation comes as the streamer grapples with slowing viewer engagement, a declining share price and pressure from investors. Bajaria, who oversaw Netflix's movies and shows, is leaving. Rice takes over the content portfolio at a moment when Wall Street is questioning whether the company can keep growing engagement and justify its valuation after years of heavy spending on programming.

Why it matters：Leadership change at the world's largest streamer is a test of whether content spending can still deliver subscriber and investor returns.

Key points

  • Peter Rice previously worked at Fox and Disney.
  • Bela Bajaria oversaw Netflix's films and series before leaving.
  • The move follows a stock slump and slowing viewer engagement.

Sources (original reporting)

More stories from this day