New ad sales presidents join Netflix after leaving Snap

On Tuesday, it was announced that Jeremi Gorman leaves her position of chief business officer at Snap to be hired by Netflix. She was invited to take the position of the company’s president of worldwide advertising. Furthermore, Gorman leaves Snap alongside Peter Naylor, who was a vice-president of ad sales at Snap and was offered the same post at Netflix.

The abovementioned appointments clearly indicate the company’s determination to develop a new version of its streaming service, with a new iteration being ad-supported and cheaper for customers. Netflix is currently making the necessary preparations for launching said version, which is planned for the next year. In July, the partnership between Netflix and Microsoft Corp was made known, with the latter providing ad technologies to the former. The new executives are meant to get in touch with companies, which are interested in advertising on Netflix.

According to Rich Greenfield, a LightShed Partners associate, new top ad executives have a great capacity to move the company forward, as their established relations with well-known brands and companies might engage more advertisers to Netflix. Greenfield also noted the seriousness of the company’s commitment to a quick development of its ad business.