Why Netflix changed its content team: Ted Sarandos explains the push behind Peter Rice
On Netflix’s October 20 earnings call, Sarandos said the company could improve its programming, especially in the U.S., and pointed to Rice’s relationships with creative talent.
Netflix co-CEO Ted Sarandos explained the company’s content leadership shake-up on its October 20 earnings call, saying its programming could improve, particularly in the U.S., according to Variety. Peter Rice is set to replace Bela Bajaria as chief content officer, putting him in charge of the slate Sarandos wants to strengthen.
“I know that we could do better, and we want to build on that momentum,” Sarandos said when asked about the leadership change, Variety reported. He said Rice’s understanding of talent relations mattered because creative talent can choose where to work.
Why Sarandos backed Peter Rice
Sarandos called Rice the right person to lead Netflix’s work with talent in the U.S. and internationally, according to Variety. His comments put a public explanation behind a change Netflix announced on October 15: Rice will become chief content officer on October 26 as Bajaria leaves after nearly a decade at the company.
In its announcement, Netflix said Rice would lead its global content organization across scripted and unscripted series, film and live events. That gives him responsibility beyond the U.S. programming Sarandos singled out for improvement.
Sarandos also praised Bajaria’s record. He credited her with putting hits on Netflix’s slate, expanding the kinds of content it makes and building an international team producing local programming around the world, Variety reported.
What else changed at Netflix
The reshuffle extends to film. Netflix said on October 19 that film chief Dan Lin was leaving, Business Insider reported. Rice will oversee film in the meantime; the company had not named a permanent replacement for Lin in that report.
The leadership moves come as viewing growth draws scrutiny. Business Insider reported that Netflix’s third-quarter shareholder letter acknowledged investor concern about viewing-hours growth while saying engagement remained healthy. The company logged 97 billion viewing hours in the first half of 2026, up 2% from a year earlier, according to the outlet.
Netflix co-CEO Greg Peters described the content goal as going “from very good to great” on the earnings call, Business Insider reported. Sarandos’s comments explain why he favors Rice for the role, while the results of the new leadership team remain to be seen.
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Sources and context
- Ted Sarandos Addresses Netflix Content Exec Purge: ‘I Know That We Could Do Better’Variety
- Peter Rice Named Netflix Chief Content OfficerNetflix
- Netflix shares sink on earnings after a dramatic content executive shake-upBusiness Insider
AI-assisted article checked against the listed sources. NewsJaws did not conduct interviews or attend the reported events.