Facebook just announced that they added Netflix CEO Reed Hastings to the Facebook board of directors (press release).
“Reed is an entrepreneur and technologist who has led Netflix to transform the way people watch movies and TV,” said Mark Zuckerberg, founder and CEO of Facebook. “He has built a culture of continuous rapid innovation, something we share and work hard to build every day.”
“Facebook is propelling a fundamental change in how people connect with each other and share all kinds of content,” said Hastings. “I’m looking forward to working with Mark and the rest of the board to help Facebook take advantage of all the opportunities ahead.”
I'm wondering if this appointment is a result of Netflix working closely with Facebook to make Netflix more social. As TechCrunch points out, Hastings has experience in taking a company public.
Hastings also serves on the Microsoft board of directors.
For all the spite I have for Reed Hastings and how much I disagree with the business model he's built. I will say the guy is a bonus to FB and as far as his vision and abilities he's top notch. This guy has transformed an entire industry (whether for the good or bad) he's a force to be recond with.
Posted by: Johnson1965Tony | June 24, 2011 at 10:32 AM
I despise Facebook. I do not use it, and I do not want to see tighter integration between it and Netflix, nor do I care to think about Facebook adding movie rental information to its database of user profiles. It's none of their business. I wonder exactly how chummy the information exchange will be?
Posted by: pointedview.livejournal.com | June 24, 2011 at 11:35 AM
He should probably spend less time joining other companies' boards and more time not ruining Netflix.
All of the moves that Netflix has made in the last two or three months have been horrifically terrible. Netflix's fans universally hate them.
Posted by: Azcsanon | June 25, 2011 at 12:34 PM
What with the smooth operation of Netflix streaming, he must have time on his hands.
By the way, how does Facebook earn money? Selling members information?
Posted by: Edward R Murrow | June 25, 2011 at 03:19 PM
This doesn't surprise me with Netflix recently announcing they're interested in Facebook integration when they've been heading in the opposite direction for awhile.
When Hastings joined the Microsoft board, they went with Microsoft Silverlight even though it was behind other video platforms. Now suddenly they're interested in Facebook after killing just about every social feature. Sometimes Netflix strategy is just based on Hastings making his business friends happy.
Posted by: SPLG | June 26, 2011 at 10:08 AM
With the recent changes to Netflix's website I have lost a lot of respect for Hastings, Hastings joining the Facebook board is nothing more than making more mony for neflix. Netflix use to have it's own social features but they were removed a few years ago because they didn't generate any revenue, with Netflix joining forces with Facebook they can hare revenue.
This idea that people will spend money to watch movies on social websites(YouTube, Facebook, etc) will not happen.
Posted by: moviegeek | June 26, 2011 at 11:49 AM