Comedian Mark Malkoff, known for such feats as getting 6-pack abs in 30 days, and bringing a goat into the Apple Store, was curious about how many films someone could conceivably watch on Netflix in a month. For his latest stunt he is trying to get the best bang for his buck, so he’s gone on a Netflix movie-streaming spree.
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Facebook Acquires Instagram for $1 Billion (SocialTimes)
Facebook has acquired the photo-sharing site Instagram for a reported $1 billion in cash and stock. “This is an important milestone for Facebook, because it’s the first time we’ve ever acquired a product and company with so many users,” wrote founder and CEO Mark Zuckerberg in a statement on his Facebook page. Instagram Blog Instagram CEO Kevin Systrom also addressed the deal on the company’s official blog. “The Instagram app will still be the same one you know and love. You’ll still have all the same people you follow and that follow you. You’ll still be able to share to other social networks. And you’ll still have all the other features that make the app so fun and unique.” The New York Times / Dealbook With Instagram, Facebook will get a formidable mobile player — an area that is seen as a weakness for the sprawling social network. Gizmodo Facebook’s impending IPO probably didn’t have much to do with its ability to purchase Instagram — it already had globs of cash — but might shade how it uses Instagram going forward. Meaning, it’ll have public investors to appease, so it’s going to need to justify spending a ton of money. Read more
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Star-struck Japan PM Befriends Facebook’s Zuckerberg (Reuters)
Japanese Prime Minister Yoshihiko Noda frequently entertains dignitaries from all over the world, but he was a touch star-struck on Thursday when he hosted a young billionaire with a whiff of celebrity: Facebook chief executive Mark Zuckerberg. As cabinet ministers filed through Noda’s residence for a late afternoon meeting, it was Zuckerberg who drew a fusillade of camera flashes from a hefty media contingent as he strode through the entrance like a movie star. ZDNet It is still not clear exactly what Zuckerberg’s visit to Japan will entail, but it is already appearing more business orientated than his holiday in China. AllFacebook The International Herald Tribune’s Rendezvous blog reported that Zuckerberg and girlfriend Priscilla Chan were spotted in Shanghai Tuesday, immediately fueling speculation that Facebook was making another attempt to gain a foothold in a market where access to the social network is severely restricted. Read more
Netflix has been one of the leading video streaming and DVD delivery services on the web for years, but right now anybody in the online video space will tell you that Netflix is taking its turn in the hot seat — the stock is down from nearly 300 to around 78. The problems started in July, when CEO Reed Hastings — after 12 years of solid management — suddenly thrust a price increase at their nearly 25 million subscribers. Is now the time to buy the NFLX stock?
Netflix announced that its free Android app was updated this week to provide a better experience for viewers using an Android tablet. This tablet support includes the Amazon Fire and Barnes and Noble Nook Tablet that also became available this week.
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Barnes & Noble introduced their new Nook Tablet yesterday, announcing that it not only features a 1GHz dual-core processor, 16GB of internal storage with the option to add 32GB of extra storage, 1GB of RAM, and a 7-inch 1024 x 600 display, but will also come with Netflix pre-installed, along with other media apps including Hulu, Pandora, MOG and Rhapsody.
Despite a rather difficult few months in which they lost 800,000 U.S. subscribers, Netflix is still one of the top dogs in the world of American film and television show streaming. They played a big part in the downfall of Blockbuster and have stepped on the toes of other major players like HBO as well. Now it looks like they’re headed across the Atlantic, to try their luck against UK players like Amazon-owned on-demand service Lovefilm.
Over the course of two months, Netflix’s market value declined 57%, due to the dissatisfaction of its plan to separate services. As of last week, Netflix changed its tone and decided to yank the unpopular plan. Unfortunately, for Netflix, the damage already took a toll upon its stock. Facebook, on the other hand, still has the time to save itself from the type of damage incurred by Netflix.
Timing is everything in Hollywood as far as business is concerned. The fact that DreamWorks contract comes as Netflix is trying to navigate through a storm of challenges is not uncoincidental. Competition is getting fierce with Apple, Vudu (Wal-Mart) and Amazon. Now, Blockbuster announced its plan to do both stream and DVD-by-mail service.
Calling it the new Blockbuster Movie Pass will allow customers to stream more than 3,000 movies to a television and more than 4,000 movies to a personal computer.
