Jeremi Gorman, Snap’s chief business officer, and top ad executive, has been named to lead Netflix’s plan for an ad-supported tier.
According to two individuals familiar with the situation, Gorman informed Snap employees on Tuesday that she was going to join Netflix, along with Peter Naylor, Snap’s vice president of ad sales for the Americas. A Snap spokeswoman, Russ Caditz-Peck, confirmed the departures.
Both Gorman and Naylor are departing Snap, which is revamping its advertising business and laying off employees this week. The Verge previously reported that Snap plans to cut roughly 20% of its workforce beginning Wednesday.
Netflix has gone through its own wave of layoffs this year, laying off hundreds of staff and reducing content after seeing its first subscriber decline in a decade. The business is now planning to offer a lower-priced tier funded by advertising, which might cost $7-$9 per month and excludes perks such as the option to download films.
A Netflix spokesman, Kumiko Hidaka, confirmed that Gorman would be the company’s President of Worldwide Advertising, reporting to COO Greg Peters. Naylor will oversee Netflix’s ad sales team and report to Gorman. The hiring was initially reported by AdAge.
