Rovi Gains on Facebook Video Data-Sharing PartnershipCliff Edwards
Rovi Corp. rose to its highest price in 10 months after Facebook Inc. chose its entertainment database to give users greater access to information on movies, TV shows and celebrities.
Rovi, a provider of digital home-entertainment products based in Santa Clara, California, climbed 4.5 percent to $21.96 at the close in New York, its highest since June 12.
The largest networking website will use Rovi Video, containing information on more than 4 million TV shows, movies and sporting events, to help its users include links to that data on their Facebook page, the companies said in a statement today. The venture will also give Facebook application developers access to the data for use in their products.
“We see the social interaction with movies, TV shows and video entertainment growing immensely over the next couple of years,” Facebook said in the statement.
Facebook, based in Menlo Park, California, has been working to keep users on its site longer by adding social links to entertainment content. Last month, Netflix Inc., the online video service, began offering its U.S. subscribers the ability to link their Facebook account to show friends’ activities, with the option to post films or shows to the social network and comment on them.