Netflix names Rice chief creative officer to shake up content
Entertainment
Netflix just tapped Peter Rice, who has worked at Disney and 21st Century Fox, as its new chief creative officer.
Starting October 26, he'll be in charge of all things content: from shows and movies to live events.
This move comes as Netflix looks to shake things up amid a slowdown in viewership and revenue.
Netflix lays off 1,000, keeps spending
Netflix is making some tough calls, including laying off 1,000 employees, as it faces stiff competition and a 23% drop in stock value this year.
Even so, the company says it's sticking with its big budget for new films, series, and even video games.
With more than 325 million subscribers worldwide, it's hoping Rice's industry experience will help spark fresh growth, and maybe win back some awards along the way.