The former Fox and Disney executive brings a playbook of prestige TV, live sports, and theatrical hits. Here is what his arrival means for Netflix's next era.

Sarandos swaps a 10-year veteran for Rice amid sliding stock and slowing engagement, signaling a new content era.

Former Disney TV chief Peter Rice takes over Netflix's $20 billion content budget on October 26, replacing Bela Bajaria as viewership growth stalls.