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December 07, 2012


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I am not a fan of Netflix at one point they where charging my savings account for three years for a Netflix subscription I gave as a gift to a friend. Leaving that terrible feeling I have when Netflix gets mention looking a the other side having worked for a big Public Accounting firm I have to agree with you David.

If the information is accesible real time I also think its fair disclosure. Those who might make it feel any other way are probably those who still want to control something either information or the process!

Joseph Ratliff

I wonder how many of the investing public pays attention to press releases anymore.

I'm sure some do, but as an investor I would be apt to look where no one else is looking for that information, that "tidbit" that may not be immediately released to the press.

And, yes, this is a real-time situation David... so tying my point to this, I'll bet the savvy investors are already following Reed Hastings' Facebook account, and whatever other account.

The other investors are simply missing out because they aren't paying attention.

The SEC needs to back off in this case, as IMO, they have to consider the actual value of said information (1 billion hours... so what?).

Nick Sharples

I hold no interest in Netflix from an investment perspective but I can see the SEC's point of view.

Whilst we would probably all agree that a Facebook public profile is a perfectly valid means of communication to one's followers, it is not one that is yet recognised and approved by the SEC as one of the acceptable routes for transmission of price sensitive information.

Investors have the right to expect that, whatever the rules applied by the SEC, price sensitive information is disclosed to every interested party at the same time, through the same channel(s). To allow otherwise would be to potentially disadvantage some investors over others and would leave the SEC open to a maladministration case.

Is it time for Stock Exchange regulators to consider channels other than press releases? Absolutely! But until they do the existing rules and channels need to be strictly adhered to for the benefit of all.


I love how you not only teach people the art of "newsjacking" but you are a student yourself.

The benefit of you doing it is you can also are able to create a nice post/lesson like this one for commentary on the PR and real time marketing aspect of the story.

Nice job. You must feel like Yoda some days, no?

David Meerman Scott

Thanks for these interesting comments. Raul - I got into their subscription clutches too and have been paying for a while. Joseph & Raul - I do think this is fair disclosure, but as Nick says, this is not part of the rules now.

Sean - In this blog, my books, and my talks, I try to point out situations where the tools of communications have outpaced conventional marketing & PR techniques or when regulation is behind the times. And I try to do that in real-time when I can. It is quite fun when I can combine those things and newsjack at the same time although in this case I have yet to be quoted by a mainstream publication.


Long Beach PC Expert

How many of the investing public pays attention to press releases anymore? It it indeed disclosing some factor that can trigger a market concerning the facebook comment. It is more objective and safe to think first before clicking the submit or post botton.

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