Why did Netflix boot Bela Bajaria?
Fear and loathing are running high as Hollywood deals with Thursday's shock firing of Bela Bajaria as Netflix's chief content officer. Yes, the company that popularized the "guardian test" has a reputation for sudden exits. But despite Netflix's recent stock woes, many saw Bajaria as too big to fail. The news of his dismissal before […]
Fear and loathing are running high as Hollywood deals with Thursday's shock firing of Bela Bajaria as Netflix's chief content officer.
Yes, the company that popularized the "guardian test" has been known for sudden exits. But despite Netflix's recent stock woes, many saw Bajaria as too big to fail.
News of his ouster leaked out before the chief executive had a chance to speak to most of his internal team - an announcement accompanied by news of his replacement, respected film and television director Peter Rice. As the former president of Walt Disney Co.'s public entertainment, Rice's bona fides are clear — one talent rep said of the new Netflix hire, "I wish I was buying stock this morning" — but that doesn't explain how Bajaria was so quickly overlooked.
The word that came up this afternoon in nearly a dozen conversations with industry players about Bajaria's pink slip: "Goat."
Netflix is apparently back on the wrong side after slowing user engagement with the service rattled Wall Street investors and layoffs fell victim to its share price this week. But Bajaria's ouster, according to multiple sources we spoke to, makes it clear that content will once again influence it.
"People always blame the content, but you don't fire 1,000 people unless there's a big problem with the business model," the source said.
Bajaria's departure echoes similar shocking layoffs in Netflix's history — notably that of Cindy Holland, the company's first content queen who oversaw the likes of "House of Cards," "Stranger Things" and "The Crown." Holland was axed in 2020, when Sarandos combined English-language and international content under Bajaria (promoting the latter to the biggest independent content job in the broadcaster's history).
Interestingly, we hear that Rice got into the game just a few weeks ago, when it was reported that he was interviewing Skydance exec Ynon Kreiz for a top position at the newly merged company. A source familiar with the matter said the lunch meeting was held so Crease could ask Rice to replace him on the board of his former company, Mattel. Regardless, it alerted the city that Rice was semi-retired (production deal with A24) and ready to make a big comeback. Another hot rumor Thursday is that Rice recently met with NBCUniversal about a post there. A source familiar with the matter told NBCU that there were no jobs for Rice under Donna Langley's broad umbrella, so it's unclear what she was meeting about. An NBCUniversal spokeswoman had no comment.
Another lunch may be influential in Bajaria's departure. Earlier this year, Netflix CEO Ted Sarandos was spotted breaking bread with HBO chief content officer Casey Bellows. Was Sarandos courting Blues for a top job at Streamer, perhaps to take over the job then held by Bajaria? Soon, the spin machine reframed the meeting as a friendly get-together, pitching the idea that it was a friendly get-together if not to find a way to work together at the merged Paramount and Warner Brothers. On a Bloomberg conference call last week, Saranos downplayed the meeting: "He's a good guy," he said of Blues. "For some reason, we had a very public lunch."
"Surprise" was also a buzzword Thursday inside and outside of Netflix about the turn of events. But there were a few caveats already: Netflix is scheduled to report its third-quarter earnings next Tuesday, so such a move would have to be made in advance. And with Sarandos and co-CEOs Greg Peters getting nowhere, Bajaria was the next sacrificial lamb in line. Observers speculate that Q3 results are likely to be very disappointing for the streamer, which is already facing tough headwinds.
At the same Screentime event, anyone reading between the lines might have guessed that Sarando was pissed off at Netflix's current lackluster state. Specifically, he was asked about Netflix's slower growth (2% annual growth in user engagement in the first half of 2026). "Yes, overall, we're not growing as fast as I'd like, and we're working on making it faster," he said. Bajaria's departure turned out to be part of that change. All eyes are now on Rice's plans for Netflix, and whether they'll include some of Bajaria's lieutenants, such as US/Canadian head of series writing Jenny Howe and film helmer Dan Lin.
Bajaria may also have hit thin ice with Sarandos after the streamer won just 16 Primetime Emmys this year — its worst since 2016 and down from 30 in 2025. That's a turnaround from 2021, when it won the most Emmys in a single year with 44.
Along with the Emmy slump, Netflix hasn't produced a culture-defining work in the Stranger Things genre for a long time. But it still hosts some of the year's most-watched shows, including "His & Hers" and Season 4 of "Bridgerton." Bajaria is known for his creative eye, having worked over the years at places like CBS and NBCUniversal (where he eventually served as president of Universal TV before moving to Netflix in 2016).
"In her decade at Netflix, Bella's impact has been undeniable — from attracting new talent, bringing live sports, concerts and events to driving the company's global expansion and pushing into new areas of entertainment," WME co-chairman Richard Weitz told Variety. "His relationships with talent have been seamless in Netflix's relationships with talent across platforms. Simply put, he has been transformative and I know he will be missed by his global team and the talent who have worked with him."
Rice will not inherit a busload of happy campers. He should bolster a team that lost a number of managers on Wednesday as a result of pink slips. From the TV side, including Carolina Garcia, who has been let go as original series director after a decade with the streamer. Also Andy Cubitz Director of Programming Lisa Lang McMullen (Director, General Deals, Series), Andrew McQueen (Director, Original Series), James Oh (Director, Original Drama Series) and Jason Penn (Director, Original Series Creative Development).
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