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March 9, 2011 03:33 am GMT
This morning, news broke that Warner Brothers had begun a test on its Facebook Page wherein it's going to allow users to rent The Dark Knight for 30 Facebook Credits (which translates to $3). It's apparently the first time a movie studio has offered a full-length movie for rent on Facebook, and boy, does it have people in a tizzy.The Hollywood Reporter quotes a Goldman Sachs analyst as saying, "Facebook represents a new potential entrant that few in the investment community were concerned with prior to this announcement, so we believe it does indeed represent an incremental negative for Netflix shares." And PaidContent says that the new partnership has led to a big drop for Netflix's stock (it's down 5.76% on the day).Unfortunately these reports of a new Facebook movie initiative, which is supposedly going to compete with Hulu and Netflix, are completely misleading. Facebook doesn't actually have a partnership with Warner, nor is it launching a movie rental service. Oops.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/-jvfurwypfo/
Holy Misleading Conclusions, Batman! The Facebook Netflix-Killer That Wasn't
This morning, news broke that Warner Brothers had begun a test on its Facebook Page wherein it's going to allow users to rent The Dark Knight for 30 Facebook Credits (which translates to $3). It's apparently the first time a movie studio has offered a full-length movie for rent on Facebook, and boy, does it have people in a tizzy.The Hollywood Reporter quotes a Goldman Sachs analyst as saying, "Facebook represents a new potential entrant that few in the investment community were concerned with prior to this announcement, so we believe it does indeed represent an incremental negative for Netflix shares." And PaidContent says that the new partnership has led to a big drop for Netflix's stock (it's down 5.76% on the day).Unfortunately these reports of a new Facebook movie initiative, which is supposedly going to compete with Hulu and Netflix, are completely misleading. Facebook doesn't actually have a partnership with Warner, nor is it launching a movie rental service. Oops.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/-jvfurwypfo/
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