Turning Netflix into an advertising goliath is proving tougher than the video-streaming giant expected.
Netflix co-CEO Greg Peters decided to replace ad sales chief Jeremi Gorman with Amy Reinhard, a longtime Netflix executive, in hopes of accelerating the ad business’ growth, according to people with knowledge of the matter. One sign of how far behind Netflix is from where the company originally hoped it would be: As of about June, Netflix’s ad sales and ad-supported subscriber numbers were roughly half what staffers had initially projected internally for 2023, one of the people said.
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