Netflix's President of Advertising, Jeremi Gorman, is leaving the company, with Amy Reinhard set to take over. Gorman, formerly Snap’s chief business officer, joined Netflix in September 2022 during the initiation of its advertising tier. Reinhard, with Netflix since 2016, has managed studio operations, including content acquisition, since 2020.
Netflix experienced challenges after introducing its ad tier in November 2022, initially struggling to deliver promised audience sizes to advertisers. However, by summer, signs of recovery were evident despite some advertisers committing fewer upfront dollars.
The streaming giant's cost per 1,000 viewers (CPM) rates have adjusted since their introduction, currently averaging in the mid-to-high-$40s, having started around $60.