Netflix recently announced plans to add a lower-price ad-supported tier.
Netflix has appointed two senior executives from Snap to lead its new advertising sales business.
Jeremi Gorman and Peter Naylor, both recently working with Snap Inc., will join Netflix next month. Gorman was a chief business officer and head of ads at Snap, and Naylor was VP of Ad Sales.
At Netflix, Gorman will be President of Worldwide Advertising and Naylor will be VP of Advertising Sales.
Gorman joined Snap in November 2018 from Amazon, where she oversaw the global sales team responsible for enterprise advertisers. Naylor, meanwhile, has driven digital ad sales for both NBCUniversal and Hulu in past jobs.
The execs’ exit from Snap comes amid reports the company is eyeing layoffs of 20% of its workforce due to a slowdown in growth and worsening economic conditions.
Earlier this year, Netflix announced plans to add a lower-price ad-supported tier in order to re-ignite growth.
In July, Netflix made a deal with Microsoft to provide the tech infrastructure for its advertising business.