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Rice most recently oversaw Disney’s cable channels, news programming and coverage of major sporting events.
“Peter is one of the most effective at-scale operators in the entertainment industry,” co-CEO Ted Sarandos said in a statement. “I’m excited to welcome him to Netflix as Chief Content Officer as we continue to scale and deliver members more of the stories they love.”
Before Rice was at Disney, he held roles at 21st Century Fox and Fox Searchlight Pictures. Netflix in its announcement called him “one of the entertainment industry’s most respected creative executives.” In his new role, Rice will oversee the company’s global content organization, including scripted and unscripted series, film and live events.
“[Netflix has] shown again and again that they’re willing to take chances on distinctive voices and fresh ideas, and I’m excited to work with the team to help bring even more great stories to members everywhere,” he said in a statement.
“I’m incredibly grateful for everything she’s done to help Netflix entertain the world,” Sarandos said in a statement.
The announcement comes a day after Netflix instituted layoffs across its organization, eliminating approximately 6% of its workforce, or roughly 1,000 jobs. Shares of the company are down more than 20% this year, though the stock remained relatively unchanged in extended trading Thursday.
The media company will report its next quarterly earnings on Tuesday.
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