BusinessPhoto: Mint CompaniesNetflix Appoints Peter Rice to Boost Slowing Viewership
Netflix has appointed former Disney executive Peter Rice to replace content chief Bela Bajaria amid slowing viewership growth and engagement challenges. This leadership change follows Netflix's recent layoff of about 1,000 employees and comes ahead of its third-quarter earnings report. Netflix's viewership grew only 2% in the first half of the year, with co-CEO Ted Sarandos admitting growth is slower than desired. Analysts see Bajaria's departure as a sign of continued soft user engagement.
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