Netflix Stock News
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Nasdaq, Oct 15, 04:42 pm EDT.
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Netflix Stock News
One of Netflix's top execs is out as the streaming giant lays off staff amid declining viewership.
Netflix said on Thursday it appointed former Disney executive Peter Rice as chief content officer, succeeding Bela Bajaria, who is leaving after nearly a decade at the streaming platform.
Peter Rice, a former Fox and Disney executive, is taking over for Bela Bajaria.
Netflix Chief Content Officer Bela Bajaria is leaving, will be replaced by Peter Rice
Netflix is getting a new content chief after a stock slump and struggles with engagement growth. Bela Bajaria, who's overseen Netflix's movies and shows since 2023, is leaving her position, the company announced.
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Plus, the AI boom is supercharging Wall Street profits.
Netflix shares have struggled amid slower engagement growth and intensifying competition. The paid streaming leader laid off about 1,000 on Wednesday, its biggest round of cuts in years.
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