Netflix Inc (NASDAQ:NFLX) has nabbed two executives from Snapchat owner Snap Inc (NYSE:SNAP) to lead its advertising business as it plans to launch a lower-priced subscription plan supported by advertising on its streaming platform, according to media reports.
Snap chief business officer Jeremi Gorman and vice president of sales Peter Naylor have been appointed to oversee global advertising, a Netflix spokesperson confirmed to TheWrap. Both will start in September.
Gorman will be president of worldwide advertising for Netflix, with Naylor serving as VP of ad sales.
Gorman, who has been Snap’s CBO since 2018, previously worked as a senior ad sales executive at Amazon and before that at Yahoo.
Naylor has worked at Snap for just over two years and before that was the head of ad sales for Hulu.
Their appointments are expected to help Netflix build relationships with brand advertisers ahead of the launch of its Advertising-based Video On Demand (AVOD) product, expected next year.
Netflix announced in July that Microsoft Corp would be its global advertising partner in the new ad-supported venture.