Netflix Inc. lured two of Snap Inc’s top executives to lead its advertising sales team, the company announced Tuesday, poaching two people that lent the social media company credibility with brand marketers.
Netflix confirmed it hired Snap’s chief business officer, Jeremi Gorman, as its new president of worldwide advertising. It also brought in Snap’s vice president of ad sales, Peter Naylor, in the same role at the streaming service.
The hiring of these two veterans signals Netflix’s commitment to building an ad-supported version of the company’s streaming service, which is expected to launch next year.
“You have two executives that are incredibly well positioned to help Netflix move quickly,” said LightShed Partners partner Rich Greenfield. “They have incredible relationships with brands and advertisers who will want to advertise on Netflix.”
Gorman is a well-respected executive who previously spent six years at Amazon.com. She arrived at Snap in 2018, at a time when the service was losing executives. Her arrival was seen as bringing credibility to Snap’s ad-sales business.
Naylor served as Hulu’s senior vice president of ad sales for six years before joining Snap in 2020. He attempted to help Snap capture more television ad dollars.
Snap confirmed the executive departures but declined to comment further.
Netflix has been assembling the pieces to launch a less-expensive version of its streaming service with commercials. In July, it announced a partnership with Microsoft Corp. to provide ad technology. The new executives will bring established relationships with advertisers looking to advertise on Netflix.
“It sends a message that Netflix is really serious about building an ad business quickly,” Greenfield said.
Netflix hires two top ad executives from Snap
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Netflix hires two top ad executives from Snap
University of Hong Kong hosts the first Saudi Economic Forum to boost China–Saudi ties
- The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration
RIYADH: The University of Hong Kong (HKU) has hosted the first-ever Saudi Economic Forum in Riyadh, bringing together nearly 100 senior officials, academics, and business leaders to deepen cooperation between China and Saudi Arabia in education, innovation, and economic growth.
Held under the theme “Enhancing the Global Competitiveness of Chinese and Saudi Institutions,” the forum marked a significant milestone in advancing strategic alignment between China’s Belt and Road Initiative and Saudi Vision 2030.
The high-level event served as a new platform for bilateral dialogue and cross-sector collaboration, with participants exploring joint opportunities in investment, technology, renewable energy, and artificial intelligence.
Professor Hongbin Cai, dean of the faculty of business and economics at HKU, said the university aspires to become a “knowledge bridge” between the two nations, leveraging its global standing and extensive international networks. He noted that educational collaboration would be a cornerstone of the Saudi–Chinese partnership.
Saudi Arabia’s Assistant Deputy Minister of Investment, Fahad Al-Hashem, emphasized the depth of the China–Saudi partnership, noting that bilateral trade now exceeds $150 billion, with a growth rate of around 30 percent annually.
He reaffirmed the Kingdom’s openness to partnerships with China’s leading universities and technology companies, particularly in future-focused sectors aligned with Vision 2030, including education, digital transformation, AI, and clean energy.
The forum featured panel discussions on cross-border education, global city development, and technology transfer, with experts stressing the importance of joint ventures in the digital economy and smart infrastructure.
Participants said Saudi Arabia could benefit from China’s successful experiences in energy transition, infrastructure modernization, and innovation ecosystems as it builds globally competitive cities and institutions.
The Saudi Economic Forum concluded with calls for sustained academic and corporate partnerships to enhance institutional excellence and global competitiveness. Organizers said the initiative will continue to facilitate knowledge exchange and support national transformation goals in both countries, namely in the fields of technology and innovation.
