Netflix film division boss to exit in second senior departure in a week

By Reuters News

Oct 19 (Reuters) - Netflix NFLX.O said on Monday its film division head Dan Lin would leave after nearly three years at the helm, marking a second senior executive departure in less than a week amid concerns over slowing engagement.

The company said on Thursday content chief Bela Bajaria would leave after nearly a decade with the streaming platform, and would be replaced by former Disney executive Peter Rice.

  • Rice will oversee the films division until a new head is announced

  • Netflix's growth prospects and user engagement are under scrutiny; its co-CEO Ted Sarandos recently said the company is "not growing as fast as I want us to"

  • Engagement data has pointed to users spending more time on creator-led video platforms such as YouTube

  • Netflix, which is laying off about 6% of its workforce, is scheduled to report third-quarter results after markets close on Tuesday

  • During his tenure at Netflix, Lin oversaw "KPop Demon Hunters," which became a breakout hit for Netflix and won an Academy Award, bolstering the streamer's feature animation strategy

  • Lin, one of the producers of "Sherlock Holmes" and the Lego movies, has worked as a senior executive for Warner Bros Pictures

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