Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Netflix Not Threatened by Warner-Facebook, Official Says

Don't Miss Out —
Follow us on:
Netflix Falls as Warner Bros. Offers Facebook Movies
A Netflix package is arranged for a photo in New York. Photographer: Jin Lee/Bloomberg

March 10 (Bloomberg) -- Netflix Inc., the mail-order and online movie-rental service, doesn’t view Warner Bros.’ plan to offer $3 film rentals on Facebook as a greater threat than other rivals pose, Chief Content Officer Ted Sarandos said.

“Nobody goes to Facebook to watch movies,” Sarandos said in an interview today at a film finance conference in Los Angeles. Netflix will eventually get shows from Warner Bros.’ sister company HBO by offering to pay the cable channel the “right amount,” he said.

Netflix fell 5.8 percent on March 8, the day Time Warner Inc.’s Warner Bros. studio announced plans to offer rentals on the Facebook Inc. social network for $3, starting with “The Dark Knight.” That sent the price of Los Gatos, California-based Netflix below $200 for the first time since January.

Netflix, which charges a monthly fee for its service, rose $7.03, or 3.6 percent, to $200.02 at 4:30 p.m. New York time in Nasdaq Stock Market trading. Time Warner fell 84 cents, or 2.3 percent, to $35.69 in New York Stock Exchange composite trading.

To contact the reporter on this story: Ronald Grover in Los Angeles at rgrover5@bloomberg.net

To contact the editor responsible for this story: Rob Golum at rgolum@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.