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Jeremy Gorman, Snap’s chief business officer, to run ads on Netflix

Netflix has found an executive to lead its plan for the ad-supported series: Snap’s chief business officer and top ad executive, Jeremy Gorman.

Gorman told colleagues at Snap on Tuesday that he was leaving to join Netflix, along with Peter Naylor, Snap’s vice president of ad sales for the Americas, according to two people familiar with the matter. Russ Kaditz-Peck, a Snap spokesman, confirmed the departures.

Both Gorman and Naylor are leaving Snap amid layoffs and layoffs that hit the social media company this week. Snap plans to cut about 20 percent of its workforce starting Wednesday. to the edge reported earlier.

Netflix has had its own rounds of layoffs this year, cutting hundreds of jobs and cutting programming after reporting its first subscriber loss in a decade. Now the company is preparing to launch a cheaper ad-supported tier that can cost between $7–$9 per month and exclude extras like the ability to download videos.

Netflix spokeswoman Kumiko Hidaka confirmed that Gorman will remain the company’s president of worldwide advertising and report to COO Greg Peters. Naylor will lead Netflix’s ad sales organization and report to Gorman. AdAge First reported on Recruitment.

“Jeremy’s deep experience in running ad businesses and Peter’s background in leading ad sales teams together will allow us to expand membership options for consumers through a new ad-supported offering,” Peters said in a statement.

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