It didn’t take long for Netflix to start informing investors through Facebook. Last week, the Securities and Exchange Commission ruled that companies can keep investors abreast of news through Facebook, Twitter, and other social media sites — a decision largely motivated by Netflix CEO Reed Hastings. Thursday, Hastings took to Facebook to announce that over the past three months, Netflix users have watched 4 billion hours of programming.
Soon, investors will be able to learn more about companies in the same space where they play Candy Crush Saga. The Securities and Exchange Commission declared Tuesday that companies can notify their investors of news through Facebook and Twitter.
Netflix users can finally link their accounts to their Facebook profiles following a long battle in Washington, D.C., which resulted in last December’s overhaul of the 1988 Video Privacy Protection Act, which had previously prevented video-rental companies from sharing users’ viewing data.
Granted, it’s only one seat, but critics of Facebook’s board of directors bemoaning the lack of women, aside from Chief Operating Officer Sheryl Sandberg, will likely welcome the addition of University of California, San Francisco Chancellor Susan Desmond-Hellmann.
Netflix CEO Reed Hastings appeared on CNBC Thursday morning, where he spoke with Julia Boorstin about the Securities and Exchange Commission’s investigation of his Facebook post about Netflix topping 1 billion hours of viewership in June.
Not long after the U.S. House of Representatives approved changes to a bill that would let video-rental services such as Netflix share viewer data (with their consent) to sites such as Facebook, the Senate gave its blessing, too. This means that soon, Netflix users will be able to share their movie histories with Facebook, much like music listeners do through applications such as SoundCloud, Songza, and Spotify.
Because of a law passed in 1988, U.S. Facebook users have been unable to share their Netflix viewing data — much like they do for Spotify or other applications that utilize open graph technology. However, the U.S. House of Representatives passed legislation recently to change this, allowing video-rental companies to get consent from their customers to share their preferences online.
A seemingly harmless congratulatory Facebook post mentioning that Netflix topped 1 billion hours of viewership in June may land CEO Reed Hastings in hot water with the Securities and Exchange Commission.