'Netflix's Ad Exec Shakeup Was Part Of Effort To Speed Growth' - The Information
Portfolio Pulse from Benzinga Newsdesk
Netflix co-CEO Greg Peters has replaced ad sales chief Jeremi Gorman with Amy Reinhard, a longtime Netflix executive, in an effort to accelerate the company's ad business growth. As of June, Netflix's ad sales and ad-supported subscriber numbers were roughly half of what was initially projected for 2023.
October 10, 2023 | 4:47 pm
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Netflix's ad sales and ad-supported subscriber numbers are lagging behind their 2023 projections. The company has replaced its ad sales chief in an effort to boost growth.
The news reveals that Netflix's ad sales and ad-supported subscriber numbers are not meeting their projected targets. This could negatively impact investor sentiment and potentially the stock price in the short term. The replacement of the ad sales chief indicates the company's efforts to address this issue, but it's uncertain how quickly these changes will yield positive results.
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