The profile of a Hollywood executive – the role, the methods, the priorities – is now undergoing a complete transformation. The old definition of a successful studio executive was someone who is commercially successful, with a track record of great films. But what we once called a cinema director might now be called a content manager, and there’s a bigger change, too. Where movie executives once had to follow the numbers, they now follow the algorithms. And here’s the difference: numbers are something you’re responsible for, while algorithms have a way of taking care of them. You.
Peter Rice, the former chairman of 21st Century Fox and former chairman of Walt Disney Television who was just hired as Netflix’s chief content officer (replacing Bela Bajaria, who was ousted in a dramatic shake-up), has worked in Hollywood’s C-suites for 15 years. But its roots lie in the world of old-fashioned movie-making passion. In his new position, he will oversee both film and television, which is a perfect role for him, since he has worked on the small screen since he was promoted to chairman and CEO of Fox Networks Group in 2012. But when he was president of Fox Searchlight, from 2000 to 2009, Rice was one of the most revered movie executives of his era, overseeing titles like “Slumdog Millionaire,” “Juno,” Little Miss Sunshine” and “Aside,” to name a few. His only competition as an accomplished film director might be Tom Rothman, the first head of Fox Searchlight. These two supported the best model for expanding the independent film revolution as a mainstream movement beyond the Harvey Weinstein model.
In recent years, Rice, born in the United Kingdom and now 60, has been semi-retired, or perhaps just waiting. But Ted Sarandos, the co-CEO of Netflix, having now given the ax to Bela Bajaria (there is speculation that she was fired as a scapegoat for the company’s current growing pains), made an incredibly smart move in hiring Rice to be his chief content officer. Recently, rumors swirled that Rice would be offered a major position within Skydance. His rise within the Netflix brain trust is just as significant, and given his historical tendency to move up within a company (without, one way or another, making enemies), we could see that happening over the next five years at Netflix. Being responsible for content at Netflix is like being responsible for burgers and fries at McDonald’s. In his new role, Rice will help shape the spirit and aesthetic of the company. The question is, how?
Sarandos is a pragmatic CEO – a visionary, if you will – who likes to do things his way. (Sorry for the inverted burger chain metaphor.) He must have a good idea of what he wants from Rice. Right now it could be: more of what Netflix has been doing. Except Netflix is now flirting with what could be the biggest change in its business plan since the company stopped sending physical media to consumers.
Greta Gerwig’s ‘Narnia: The Wizard’s Nephew’ is the film ‘Forget ‘Harry Potter’, ‘Lord of the Rings’ and ‘Dune!’ This is your new fantasy franchise of world conquest! » adaptation of the sixth book “Narnia” by CS Lewis. The film was designed from minute one to be a game changer. It cost $280 million (hello, budget that makes “Digger” look like coin!). And Gerwig, using the A-list power she gained after the megasuccess of “Barbie,” insisted that the film receive a wide-scale theatrical release. (It will hit Imax screens worldwide, as well as many other screens, on February 10, 2027.) Even after that deal was closed, Gerwig had to fight to make sure it happened.
But it prevailed, and Netflix, with “Narnia,” will now have a presence in the theatrical movie business like never before. (I’ve written about how a token Netflix theatrical release is inevitably covered by the media as if it’s bigger than it is, because critics and entertainment journalists tend to live near the few theaters in New York and Los Angeles where Netflix films are shown.) As if to acknowledge the profound change this all represents, Netflix recently announced that it would make greater strides in the theatrical arena. (“La Bola Negra,” his big hope at the 2026 Oscars, will enjoy the longest theatrical run Netflix has ever given a film.) The company will also now release box office figures, a major change for transparency-shy Sarandos.
As someone very critical of what I have called Netflix’s master plan to convert the movie world into glorified home viewing, I applaud these developments. I hope they’re part of the bigger movie “comeback” everyone’s talking about, in 2026. This is pure speculation on my part (I’m a critic, so I’m allowed to speculate), but Netflix’s hiring of Peter Rice, Right nowdoesn’t feel disconnected from it all. Rice, at his heart, is a movie guy. It doesn’t matter how much small screen content gets the green light – you can’t take that cinematic DNA away from someone. If Netflix’s new film project succeeds, I could predict it will hasten Rice’s rise within the company.
But what if the “Narnia” film, which again this week was plagued by rumors of a disappointing test screening, turned out to be a flawed blockbuster that failed to live up to commercial expectations? (I want the movie to be great; I’m just hinting at the possibility.) So what? Will Netflix’s plan to expand into theatrical distribution be threatened? It depends on what Sarandos wants. And I could easily see him giving in on that. But if Rice becomes the voice of movie passion within Netflix, it could lead to a major conflict between the companies. Or maybe he’ll be the one to help Sarandos see the light! Watching Netflix’s off-screen drama, it will be fascinating, and perhaps an indicator of where the future of movies is headed, to see who brings who into the flow of things.
Gn bussni
