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'I Know That We Could Do Better'
Variety • • business
Key Points:
- Netflix has overhauled its executive leadership in content, replacing chief content officer Bela Bajaria with veteran TV executive Peter Rice amid a broader layoff of 1,000 employees.
- Co-CEO Ted Sarandos praised Bajaria's decade-long contributions, especially her work on international content, but emphasized the need to elevate Netflix's U.S. programming with bigger, buzzworthy shows.
- Peter Rice, formerly chairman of Walt Disney Television and a seasoned executive across TV, film, streaming, and live sports, was highlighted for his creative instinct, business acumen, and talent relations expertise.
- Sarandos expressed confidence that Rice's balanced skill set in art and commerce will help Netflix improve its content slate and strengthen relationships with creative talent in a competitive market.
- The leadership change aims to boost Netflix's viewing engagement and revenue growth, with expectations that Rice will positively impact upcoming projects in late 2023 and 2027.
