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.
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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 analysts alike predicting it would start bringing in billions in newfound revenue in the next couple of years.
Co-CEO Greg Peters, who has closely overseen the launch of Netflix’s ad tier, thanked Gorman for “building our ads business from scratch” in a statement provided to Deadline. In her roughly one year of service, he added, “she’s built the foundations we need to succeed — attracting world-class brands to Netflix and an incredible team.” Of Reinhard’s seven-year stint to date, Peters said, “Amy has proven to be an exceptionally strong leader — with a deep understanding of the entertainment business and consumer tastes as well as the ability to build lasting partnerships across the industry. These skills, in particular her strength in TV and film, are critical for the success of our ads business.”
Since 2020, Amy has been VP of Studio Operations at Netflix. She joined the company in 2016 as VP of Content Acquisition. In that role, Amy led the global studio licensing for films and television series as well as local language acquisitions from Latin America, Europe, Africa, The Middle East, and India. In her most recent role, Amy oversaw physical production, production facilities management, consumer products and creative services, including casting, literary scouting, IP management, and music business development. Prior to Netflix, she was the President of Worldwide TV Licensing and Distribution for Paramount Pictures, where she held various strategy, finance, and operating roles for more than 10 years.
“I’m excited for this new opportunity and to join the exceptional team during this phase of growth,” Reinhard said. “Together we will scale our advertising business and connect our incredible shows and movies with audiences and brands around the world.”
Gorman said she would “move on to build again,” noting that she had developed multiple businesses from the ground up during her career. “We’ve built a world-class team and laid the foundations needed to create a forever ads business,” she said. “The stories at Netflix are second-to-none, and brands are eager to be a part of that zeitgeist. 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.”
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