As Netflix rolls out an ad-supported tier, the company has poached a top exec from Snap to take the lead.
Jeremi Gorman was Snap’s Chief Business Officer and ran the platform’s ad business. According to The Verge, Gorman is leaving Snap to help run Netflix’s ad-based endeavors.
“Jeremi’s deep experience in running ad businesses and Peter’s background in leading ad sales teams together will be key as we expand membership options for consumers through a new ad-supported offering,” Netflix COO Greg Peters said in a statement.
Netflix was long-rumored to be working on an ad-supported plan as the company looked to revive its subscriber growth. The company reported its first subscriber loss in nearly a decade in 2022, adding further impetus to the need for a cheaper, ad-supported plan.
After rumors it would tap Google or NBCUniversal to help it deploy its ad program, Netflix ultimately turned to Microsoft to assist it.
“Microsoft has the proven ability to support all our advertising needs as we work together to build a new ad-supported offering,” Peters wrote at the time. “More importantly, Microsoft offered the flexibility to innovate over time on both the technology and sales side, as well as strong privacy protections for our members.”
With the hiring of Gorman, Netflix’s plans are coming into focus more and more.