Ted Sarandos Explains Why He Chose Peter Rice to Run Netflix’s Content Strategy
The co-CEO says industry reaction to his hiring of the former Fox exec has been "nothing short of overwhelming" The post Ted Sarandos Explains Why He Chose Peter Rice to Run Netflix’s Content Strategy appeared first on TheWrap .
During Netflix's quarterly earnings call on Tuesday, co-CEO Ted Sarandos expressed his admiration for Peter Rice, the recently appointed chief content officer. Sarandos praised Rice's reputation for strong talent relations, noting the widespread excitement surrounding his arrival at Netflix. This praise came after Rice's tenure at Fox Searchlight, where he worked with acclaimed filmmakers like Danny Boyle, who directed "28 Days Later" and "Slumdog Millionaire," the latter of which grossed $378 million worldwide.
After leaving Fox Searchlight, Rice became president of 21st Century Fox and CEO of Fox Networks Group before moving to Disney, where he held positions as chairman of Walt Disney Television and General Entertainment. Despite leaving Disney in 2022, Sarandos believes Rice's expertise in talent relations will be valuable in navigating Netflix's content strategy, particularly in the U.S. market.
Sarandos also commended Rice's predecessor, Bela Bajaria, for her contributions over a decade at Netflix, highlighting her role in securing significant hits and expanding international content. Meanwhile, Netflix's stock price has experienced a 5.8% drop in after-hours trading, bringing it down to $64.70.
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