There are sure to be some sad faces out in Los Gatos, California this morning, the headquarters of movie rental giant Netflix. Everything was looking up; Blockbuster, Netflix’s main competitor, finally files for chapter 11–and everyone thought we were crazy for not paying that $25 fee for losing that copy of Alexander, but we knew it we just had to outlast the fools. But now, as if those hoodie-wearing bastards weren’t accomplishing enough, Warner Bros. announced that it will begin streaming films on Facebook.
So here’s how it’s set to work: You shell out 30 Facebook credits, the equivalent of 3 bucks. After that you’ll have 48 hours to watch the flick before it’s no longer available. This service is initially only available in the United States, but if it proves successful there are plans to bring the feature to other countries around the globe.
“Facebook has become a daily destination for hundreds of millions of people,” a Warner Bros statement said. “Making our films available through Facebook is a natural extension of our digital distribution efforts,” it continued.
Very true. Actually, it’s sort of surprising that WB is the first major Hollywood studio to ride the Facebook wave.
Naturally, Netflix shares plummeted after the announcement, closing 5.8 percent lower at $195.45 on Tuesday. And it that wasn’t bad enough, Goldman Sachs analyst Ingrid Chung wrote a note to investors warning that Facebook represents a long-term threat to Netflix. Yikes.
The first film available to FB users is the 2008 blockbuster The Dark Knight. If all goes well, you can expect many more titles to follow shortly.