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Netflix Bets on Adtech Vet to Boost Revenue
4 Nov
Summary
- Netflix hired a new VP of ads with experience from major tech firms.
- The company recently reduced its ad revenue forecast by $300 million.
- New hire is tasked with improving Netflix's adtech stack and product rollouts.
Netflix has recruited Darshan Kantak, a seasoned adtech executive, to lead its advertising platform as VP. Kantak brings extensive experience from his previous roles at tech giants including Google, Snap, Meta, Microsoft, and Yahoo. His appointment follows Netflix's recent adjustment of its annual advertising revenue projection, reducing it by $300 million to $2.7 billion, attributed to delays in ad product launches and partner integrations.
Kantak's immediate focus will be on enhancing Netflix's adtech infrastructure. Colleagues describe him as a detail-oriented problem-solver adept at complex challenges. He is expected to leverage his expertise, previously instrumental in shifting Facebook towards data-driven performance advertising, to diversify Netflix's advertiser base. Netflix plans to roll out new ad formats, improve measurement tools, and expand its ad-supported tier to 15 additional countries next year.
