As it prepares for one of the biggest pivots in its eventful quarter-century of existence as a company, the launch of an ad-supported subscription tier next year, Netflix has tapped two seasoned digital executives to oversee it.
Jeremi Gorman and Peter Naylor, both recently with Snap Inc., will join Netflix next month. Gorman was Snap’s chief commercial officer and chief ad officer, and Naylor was vice president of ad sales. At Netflix, Gorman’s title will be president of worldwide advertising and Naylor will be vice president of advertising sales.
The company confirmed the hires to Deadline after they were reported by tech outlet The Verge.
Netflix announced last spring that it would finally do what investors and others have long hoped for and offer a cheaper subscription tier with ads. It was quick to announce the move as it reported its first annual subscriber decline in over a decade, though it continues to lead the field with 220.7 million paying customers. After having the streaming field virtually to itself for more than a decade, Netflix now faces stiff competition in the US and other parts of the world from Disney+, HBO Max and several other recently launched services. Disney has announced that it will announce an ad-supported Disney+ tier in December.
Gorman spent lengthy stints at Amazon and Yahoo before moving to Snap in 2018. Prior to his arrival at Snap in 2020, Naylor had made his mark in streaming by overseeing sales at Hulu, surpassing the $1 billion mark in revenue. annuals when it was still a joint venture between various media companies. Before Hulu, he spent seven years at NBCUniversal.
The departure of Snap’s executives comes amid reports that the company is considering laying off 20% of its workforce due to slowing growth and worsening economic conditions.
Gorman said she was “thrilled to join Netflix to help build the ad business and a world-class ad team from the ground up. We’re just getting started, but we look forward to providing the best experiences for members of Netflix and the ad community, which I’ve been a proud part of for over 20 years.”
Naylor added, “It’s been great to see the excitement among the advertiser community about Netflix’s upcoming ad-supported offering. I’m excited to join the team and look forward to helping our advertisers connect with Netflix members around the world.”