Netflix Exec Shuffle: Jeremi Gorman Exits As Ad Chief, With Amy Reinhard Promoted To Replace Her; New Heads Of Product And Technology Also Named
03.10.2023 - 18:04
/ deadline.com
After spearheading Netflix‘s entry into advertising last year, veteran exec Jeremi Gorman has exited the company.
Netflix exec Amy Reinhard has been promoted to president of advertising, replacing Gorman, who had come to the company last year after previous stints at Snap, Amazon and Yahoo.
In addition to the ad shuffle, Eunice Kim has been upped to Chief Product Officer and Elizabeth Stone to Chief Technology Officer. Stone joined the company in 2020 to lead data and insights, while Kim came aboard in 2021 after holding exec posts at Google and YouTube.
Netflix, which staged a virtual upfronts pitch last May, said at that time that its ad tier had reached 5 million subscribers globally. While that represents barely 2% of the company’s overall subscriber base of 238 million, it is a key strategic pillar as the streaming giant also implements paid password sharing as opposed to letting customers share passwords for free. Priced at $7 a month in the U.S., the ad-supported plan is cheaper than the cost of adding a subscriber to an account as part of the new paid password scheme.
The ultimate rollout of advertising, which was done in partnership with Microsoft, wound up far smoother than the initial announcement that ads would appear on the service. Contradicting longtime vows by co-founder and former CEO Reed Hastings that the company would remain ad-free, in part due to concerns about privacy, the company pivoted after a subscriber slump in early 2022. The reveal of the reversal came during a quarterly earnings call, when Hastings inserted a mention of it and initially it only accentuated Wall Street concerns about the company. Over time, the ad component has come to be viewed as an overall positive, with execs and
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