Netflix ad president departs

Netflix President of Advertising Jeremi Gorman is departing the company and is being replaced by longtime executive Amy Reinhard, according to multiple people familiar with the situation. Gorman, who previously served as Snap’s chief business officer, joined Netflix in September 2022, just as the streaming giant was getting set to launch its ad tier. New: Inside Netflix’s ad leadership shakeup Reinhart has been VP of studio operations since 2020, where she oversaw physical production, production facilities management, consumer products and creative services, including casting, literary scouting, IP management and music business development. She joined Netflix in 2016 as VP of content acquisition. Peter Naylor, who has served as VP of worldwide sales since September 2022, alongside Gorman, will remain in the role. Gorman’s next move has not been disclosed. “My passion is scaling businesses from the early stages, which I have done many times—none more exciting than at Netflix,” Gorman said in a statement. “We’ve built a world-class team and laid the foundations needed to create a forever ads business. Working alongside Amy on the leadership team for the past year, I’ve seen her operational excellence and entertainment expertise firsthand, which will help enable brands to benefit from ‘The Netflix Effect’ in new and remarkable ways.” Gorman joined Snap in October 2018. She had previously served as head of global ad sales at Amazon. Netflix launched its ad tier in November 2022 and had a bit of a rocky start in the marketplace. In late 2022, Digiday reported Netflix was coming up short of delivering the audience it promised to advertisers post-launch, meaning some advertisers were unable Netflix closed its first upfront this summer showing signs of improvement since its first round of negotiations last fall, even as advertisers committed fewer dollars in some cases. Buyers anticipate a higher percentage of clients’ budgets this year will actually be spent this time around. Multiple buyers confirmed in late summer that Netflix’s CPM, or cost per 1,000 viewers, settled in the mid- to high-$40 range, with some variations both higher and lower. Netflix debuted in the ad market with industry-high CPMs of around $60, Ad Age reported last year. Multiple buyers also confirmed Netflix pitched an agency-level commitment of $40 million, double the ask in its initial negotiations.

Netflix ad president departs

Featured Stories