Ted Sarandos has been crowned the most powerful executive in Hollywood on the 2026 power list from The Town with Matt Belloni. The ranking arrived while Netflix was busy rearranging its own house. Talent such as Christopher Nolan and Taylor Sheridan were told to keep their picks to themselves, because only executives qualified. Even among the executives, the rankings flipped back and forth as the pair argued over who really holds the keys.

While Matt Belloni and Lucas Shaw swapped rankings like trading cards, one name never budged from the top, and the reasons are surprisingly practical.

Ted Sarandos took the top spot on the 2026 list of Hollywood’s most powerful executives from The Town with Matt Belloni. Matt Belloni and Bloomberg’s Lucas Shaw ranked the field. Greenlight power meant control over what gets made and who gets paid. Sarandos finished ahead of Disney’s Josh D’Amaro and Skydance’s David Ellison.

“In terms of calls getting returned, he is kind of the mayor of Hollywood," said Belloni.

He added, “Iger used to be the clear number one,” meaning Bob Iger once held that crown.

The case for Sarandos on The Town with Matt Belloni rested on 325 million subscribers and a 255 billion dollar market cap that still tops Disney, even after a stock drop of nearly 50% in a year. Sarandos alone decides whether Netflix movies reach theaters, and a push for 10 to 15 big-budget releases would reshape the film business. He also attends premieres and sits through the Golden Globes while other chief executives skip it.

Bob Iger Net Worth: How Did the Former Disney CEO Build His Fortune Through Disney and ABC

While the mayor basks in the title, his own city hall just cut 1,000 jobs and reshuffled the content suite.

Ted Sarandos defended the Netflix leadership overhaul on the Q3 2026 earnings call, admitting the streamer could do better. The overhaul landed in the same week as layoffs of 1,000 employees, which began October 14 and fell mostly on product, technology, legal, and HR teams. Netflix also replaced chief content officer Bela Bajaria with Peter Rice, while film head Dan Lin, deputy Doug Belgrad, and Carolina Garcia lost their jobs.

Sarandos praised Bajaria’s international team and called Rice, whom he has known for 15 years, a rare leader across networks, studios, streaming, and live sports. Rice, a former Walt Disney Television chair, started October 26 with talent relations as his key asset. Engagement grew only 2% in the first half of 2026, while YouTube held 14.2% of connected TV viewing in July against 7.8% for Netflix. The mayor of Hollywood still answers to Wall Street.

Netflix’s Leadership Shake-Up Signals a Bigger Problem Than Its Programming Slump

What are your thoughts on Ted Sarandos' ruling as the mayor of Hollywood? Let us know in the comments.