Netflix (NFLX) doesn’t view Warner Bros.’ plan to offer $3 film rentals on Facebook as a greater threat than other rivals, Chief Content Officer Ted Sarandos said in an interview today in Los Angeles.
[via Bloomberg] “Nobody goes to Facebook to watch movies,” Sarandos said. “Netflix will eventually get shows from Warner Bros.’ sister company HBO by offering to pay the cable channel the “right amount.”
Netflix fell nearly 6% on March 8, the day Time Warner Inc. (TWX)’s Warner Bros. studio announced plans to offer select movies for purchase or rental through Facebook Inc. That sent NFLX below $200 for the first time since January 26, ’11.
Netflix, which charges a monthly fee for its service, continues to squeeze higher ; ticker gained $7.64, or 3.96%, to $200.96 at 1:56 p.m. New York time in Nasdaq trading. If PPS continues to be based above $200 level, look to Tuesday’s bearish gap between $202 – $204 as next resistance area. Time Warner Inc. fell 77 cents, or 2.11%, to $35.75 in NYSE composite trading.