Facebook has actually made social connections more entertaining, rendering even some of my most boring relatives, friends, co-workers, and casual acquaintances a bit more interesting.
Now that Netflix chairman and CEO Reed Hastings has joined Facebook’s board, I’m wondering what’s going to be down the road of my life on Facebook. Will I one day look up from my laptop and ask my wife to watch a movie or TV show on Facebook?
Clearly, as Facebook inches towards reaching 1 billion users sometime next year, it is looking for more and more ways to keep people logged in. Games are obvious time consumers and so is music. Movies and TV? Definitely. (Even if it means watching Green Lantern laying a big fat egg at the tills.)
As an additional revenue stream (which Facebook probably needs more than just traffic), perhaps it’ll lead to seamless social network TV/movie promotion that actually brings bigger bucks. That will definitely come in handy, if and when, Facebook goes public next year and needs to support its profitability profile.
Netflix CEO Reed Hastings is joining the Board of Directors at Facebook, a likely signals that the company is getting closer to announcing their initial public offering (IPO).
Hastings helped Netflix navigate the often confusing world of IPO’s and that move is expected to be the next logical step for the world’s largest social network.
Reed also serves on the board at Microsoft which owns a small stake in the social network.
The move also comes at a time when Netflix has promised to deliver more social media and sharing features into their product, a promise that failed one-time already when their social media offering was less than ideally optimized.
Rumors have speculated that Facebook would take on Netflix via the streaming movie business with Warner Bros. recently testing video on-demand through the social platform, however Reed joining the board could mean a partnership is in the works, for example Netflix could use Facebook’s international reach and know-how to launch their DVD-by-mail and video-streaming services in more countries, while also tapping into Facebook’s nearly 700 million users to grow their own user base which currently tops 23 million customers. read more