Netflix says its international shows are working as Peter Rice takes over content

Netflix executives defended the company’s international shows and signaled interest in more broadcaster partnerships on its October 20 earnings call, as Peter Rice prepares to replace Bela Bajaria as content chief. Variety reported that co-CEO Ted Sarandos said the U.S. slate needs stronger results while executives praised local productions abroad.

Co-CEO Greg Peters said local titles in Asia-Pacific, Latin America, Europe, the Middle East and Africa were driving engagement and business growth, according to Variety. That is Netflix’s assessment of its performance, rather than a measure of what any one show or partnership delivered.

What Netflix said about its content strategy

The leadership change has sharpened questions about commissioning. Former Disney executive Rice is taking over from Bajaria, and Variety reported that the shift has caused some anxiety in the U.K. production industry. Sarandos indicated that the international content operation would not undergo a fundamental change under Rice, while acknowledging the need for a stronger U.S. slate.

The company faces a wider challenge over viewing. CNBC reported that Netflix beat Wall Street’s third-quarter earnings-per-share expectations while revenue was in line. Netflix acknowledged investor concern about growth in viewing hours in its shareholder letter, CNBC reported, but said engagement remained healthy. CNBC also reported that Netflix had announced layoffs of about 6% of employees, roughly 1,000 workers.

How the TF1 and Globo deals fit

Peters pointed to Netflix’s TF1 partnership in France as an example of how the service could bring in more programming from traditional broadcasters. He said Netflix was looking for new ways to expand its selection of professionally produced films, television and live events, including licensing and creative partnerships, according to Variety.

Netflix has also reached what Sarandos called its most meaningful licensing deal in Brazil with Globo. Variety reported that the agreement covers 18 titles and is scheduled to run from December through mid-2027. It includes Brazilian rights to Walter Salles’ film ‘I’m Still Here’ and the telenovela ‘India — A Love Story.’ Globo had previously kept much of its programming off Netflix in Brazil, where it operates Globoplay, even though Netflix carried Globo titles elsewhere.

Those arrangements show the kind of programming Netflix wants alongside its originals. The executives’ comments did not quantify how much either broadcaster deal contributed to viewing or growth; the Globo titles covered by the new agreement are due to arrive in December.