Why Does Netflix Have Two CEOs in 2026?

Picture this: You’re deep into a Netflix binge—maybe rewatching Stranger Things or discovering a new K-drama—and out of nowhere, a question pops into your head. Who’s actually steering this massive ship? Most companies have one big boss at the top. But Netflix? Nope. In January 2026, it’s still rocking two co-CEOs: the charismatic Ted Sarandos and the sharp-minded Greg Peters.

It sounds a bit wild, right? Like having two chefs in one kitchen. But here’s the thing—this setup isn’t chaos. It’s a secret sauce that’s helped Netflix dominate streaming, rack up over 300 million subscribers, and pull off game-changing moves like the blockbuster Warner Bros. acquisition. So, why does Netflix have two CEOs? Grab your popcorn, because we’re diving in with stories, quotes, and all the juicy details.

The Backstory: From One Visionary to a Dynamic Duo

Netflix’s leadership story is like one of its own hit series—full of twists and bold moves.

It all started with Reed Hastings, the co-founder who dreamed up mailing DVDs and then flipped the world upside down with streaming.

In 2020, Hastings brought in Ted Sarandos as co-CEO. Ted had been the content wizard for years, turning Netflix into the home of originals.

Then, the big plot twist came in 2023: Hastings stepped back to executive chairman, promoting Greg Peters to co-CEO alongside Ted. Fast forward to 2026, and this duo is still crushing it.

Hastings didn’t just vanish—he designed this on purpose. He wanted a smooth handover, no drama, as we’ve seen at other tech giants.

Meet the Stars: Ted Sarandos and Greg Peters

These two aren’t clones. They’re like Batman and Robin—one handles the flair, the other the tech smarts.

Ted Sarandos: The Hollywood Charmer and Content Guru

Ted’s been at Netflix forever—over two decades! He’s the guy who greenlit crazes like Squid Game and pushed for local stories worldwide.

In a fresh 2026 interview, Ted said, “Playing it safe is the riskiest move in business.” He’s all about bold bets on shows, movies, live events, and now integrating Warner Bros. classics.

Ted’s your creative force—schmoozing with stars, spotting the next big hit.

Greg Peters: The Data-Driven Strategist

Greg climbed from product roles to the top. He’s quieter but powerhouse-level smart.

He masterminded the ad-supported plan (huge success!), password-sharing crackdown, and app tweaks that keep us glued. Greg focuses on growth, tech, and making Netflix run globally without a hitch.

Together? Magic. Ted dreams up the stories; Greg makes sure they reach everyone, everywhere.

Why Two CEOs Actually Works (And Why Netflix Loves It)

Okay, the million-dollar question: Why does Netflix have two CEOs when one seems simpler?

It’s not random. Here’s the real genius behind it.

Superpowers Combined for Unbeatable Decisions

Imagine trying to master both art and science. Tough, right? Ted nails the “what” (amazing content). Greg owns the “how” (delivering it flawlessly).

As Ted put it recently, going local in dozens of countries was key to global dominance. This split lets them tackle massive challenges without dropping the ball.

Thriving in Chaos: Ads, Live Sports, and Mega Deals

Remember when Netflix swore off ads and sports? They broke their own rules—and won big.

Ted explained in 2026: Sometimes you have to evolve.

Now, the Warner Bros. deal? It’s enormous—$83 billion for studio assets, bringing icons like Harry Potter and DC. Ted handles content magic; Greg scales the tech. One CEO alone? Overwhelmed.

No Succession Drama—Just Smart Planning

Founder exits can tank companies. Netflix avoided that. Starting with co-CEOs early made the shift seamless.

It Matches Netflix’s Vibes: Trust and Freedom

Netflix culture is all about high talent density and candid feedback. Two leaders model that—trusting each other, debating ideas openly.

How They Make It Work Without Clashing

Worried about ego battles? Nah. They divide and conquer:

• Ted: Content, programming, creative marketing.
• Greg: Product, ads, operations, finance.

They collab on big stuff, like the Warner integration. In memos, they’ve reassured teams: Stay focused, this is exciting!

It’s like a great marriage—different strengths, shared vision.

Proof It’s Working: The Wins Keep Coming

Three years in, doubters are quiet.

• Subscribers are exploding past 300 million.
• The ad tier is booming.
• Live events (think NFL games) are drawing crowds.
• Stock is strong, named as one of the top CEOs in the 2025 lists.

And that Warner deal? It’s reshaping Hollywood, with Ted and Greg defending it as “complementary strengths.”

Other dual-CEO tries flopped elsewhere, but Netflix nailed the formula.

The Flip Side: Any Downsides?

Honesty time—it’s not flawless.

• Decisions might take longer if they disagree (rare, they say).
• Double the big salaries.
• Outsiders sometimes ask, “Who’s really boss?”

But in 2026? No major hiccups. The pros crush the cons.

What’s Next in 2026 and Beyond?

This year is huge. Warner Bros. assets closing soon, more live stuff, global pushes.

Ted’s hyped on risks paying off. Greg’s locking in the tech.

If they pull this off, dual leadership might inspire others.

FAQ: Your Burning Questions Answered

1. Who are Netflix’s co-CEOs right now in 2026?

Ted Sarandos and Greg Peters—still going strong since 2023.

2. Why stick with two CEOs?

Complementary skills, better decisions, smooth transitions, and it fits their culture.

3. What’s Ted Sarandos’ main focus?

Content everything—shows, movies, deals like Warner Bros.

4. What does Greg Peters handle?

Product innovation, ads, global ops, and growth strategies.

5. Is Reed Hastings totally out?

No, he’s executive chairman, advising from the sidelines.

6. How’s the Warner Bros. deal going?

Ongoing and exciting—WBD’s board is backing it over rivals.

7. Do co-CEOs get along?

Yes! They emphasize trust and constant communication.

8. Could Netflix switch back to one CEO?

Maybe someday, but no signs in 2026—it’s working too well.

Wrapping It Up: Two Heads Are Better Than One

So, why does Netflix have two CEOs in 2026? Because in a wild industry, one brain isn’t enough. Ted Sarandos and Greg Peters bring the perfect mix—creativity meets strategy—to keep innovating and winning.

From ditching DVDs to eyeing Warner treasures, this duo proves teamwork at the top can be epic.

What do you think—genius move or too complicated? Share in the comments, and tell me your current Netflix obsession. Happy watching!