Bela Bajaria is out at Netflix. The streaming giant has removed its chief content officer after a decade, replacing her with former Disney and Fox executive Peter Rice in a shakeup that coincides with layoffs of about 1,000 employees, roughly 6 percent of the workforce and the largest cut in company history. Bela Bajaria’s departure, first reported by Puck, had been rumored for months but was dismissed by Netflix even as Rice’s name began circulating late last week.
In a statement, Sarandos thanked Bela Bajaria for a decade of dedication, innovation, creativity and leadership. “She led enormous changes at Netflix,” the co-CEO said. “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. I’m incredibly grateful for everything she’s done to help Netflix entertain the world.”
Bajaria joined Netflix in 2016 after she was let go from NBCUniversal, where she was president of Universal Television. In that role she had produced shows that aired on Netflix, including Unbreakable Kimmy Schmidt and Master of None. Sarandos first brought her in to help launch an unscripted division, plus licensing and studio co-productions. She was elevated to head of global television in 2020 as Cindy Holland exited, and named chief content officer in January 2023. The move echoes September 2020, when Sarandos replaced 18-year veteran Cindy Holland with Bela Bajaria.
Industry sources cited by Variety believe the decision reflects pressure to deliver stronger growth, with content becoming the focus of the blame. Netflix’s user engagement grew just 2 percent year-on-year in the first half of 2026, and at a recent industry event Sarandos acknowledged the slowdown: “Yes, overall, we’re not growing as fast as I want us to, and we’re working on making that move faster.” The streamer also won just 16 Primetime Emmy Awards this year, down from 30 in 2025 and its worst showing since 2016, after tying the record with 44 in 2021. One source described Bajaria as a scapegoat, arguing, “People always blame the content. But you don’t lay off 1,000 people unless there’s a big problem with the business model.”
Bela Bajaria’s Decade at Netflix
Rice will now lead Netflix’s global content organization, overseeing scripted and unscripted series, film, live events and more across all regions. Questions now turn to whether his plans will include some of Bajaria’s lieutenants, such as U.S. and Canada head of scripted series Jinny Howe and film lead Dan Lin. The restructuring has already claimed film VP Doug Belgrad and film director Sheroum Kim. Bela Bajaria’s exit leaves Rice inheriting a content machine built over her decade at the helm.
Why Bela Bajaria Was Ousted
Beyond the growth figures, Bajaria may have hit thin ice with Sarandos after the Emmy slump and the absence of a culture-defining hit in the vein of Stranger Things, though the streamer has still fielded some of the year’s most-watched programs, including His and Hers and season four of Bridgerton. Some industry observers argue engagement is not the core problem: “The problem isn’t engagement. It’s that the only lever to pull for revenue growth is raising the subscriber price. How’s that Bela’s problem? Where’s the CFO and the CEO?”
Peter Rice Replaces Bela Bajaria
WME co-chair Richard Weitz praised her run, telling Variety: “In her decade at Netflix, Bela’s impact has been undeniable, from attracting new talent, bringing live sports, concerts and events to driving the company’s global expansion and push into new areas of entertainment.” Inside the company, the mood is grim. Neither Sarandos nor Bajaria attended the Nobody Wants This season three premiere this week, and one staffer described the atmosphere as “gloom and doom,” adding, “Everyone is freaking out.”
For Bela Bajaria, who received a Variety award at MIPCOM in Cannes this week and is slated to receive an International Emmy next month, the exit closes a decade that carried her from NBCUniversal to the top of the world’s biggest streamer, and leaves open the question of what she does next.