Netflix replaces content chiefs as viewing growth slows
Netflix replaced its content and film heads and cut 6% of roles. According to WSJ, the streamer is reworking strategy ahead of quarterly results.
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what happened
Netflix replaced content chief Bela Bajaria and film head Dan Lin within days. The moves followed a restructuring plan called Project Meridian, which cut 6% of roles. According to the Wall Street Journal, citing people familiar with the matter, co-CEO Ted Sarandos had complained for months that Americans were watching Netflix less and that the service lacked new hit shows.
Peter Rice will take over Bajaria's role and oversee a content budget of roughly $20 billion. The company is also returning to theatrical releases, revisiting its recommendation algorithm and weighing changes to its release schedule. The WSJ reports Netflix remains on track for its full-year forecast of 13% to 14% revenue growth and a 31.5% operating margin.
why it matters
Netflix shares are down more than 40% over the past year, including after its failed bid for Warner Bros. Discovery's studios and HBO Max. Investors will watch the quarterly report for answers on strategy. Netflix disputes Antenna's data showing US subscriber declines.
market impact
Netflix and streaming sector: leadership changes and doubts about audience growth weigh on the stock
tags
instruments
sources
- Netflix, America's Dominant Streaming Service, Has Hit a Wall — WSJ, 19 October 2026 at 23:00 UTC
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