Netflix CEO Reed Hastings shunned traditional media and took advantage of new federal rules in regards to disclosures of information via social media.
The exec posted on Facebook yesterday, disclosing that subscribers have watched 4 billion hours of video in the last three months alone.
Reads the post, "House of Cards fav quote: 'look at the bigger picture.' Over the last three months, you all watched over 4 billion hours on Netflix."
The company ran into trouble in July after Hastings revealed similar information on Facebook. The SEC began an investigation into whether it was appropriate for execs to reveal information that might move the company's stock via social media. It recently ruled that companies could do so but they must tell investors beforehand which sites they will be using. Netflix announced on Wednesday that it would disclose information via its blogs, Facebook and Twitter.
Reads the post, "House of Cards fav quote: 'look at the bigger picture.' Over the last three months, you all watched over 4 billion hours on Netflix."
The company ran into trouble in July after Hastings revealed similar information on Facebook. The SEC began an investigation into whether it was appropriate for execs to reveal information that might move the company's stock via social media. It recently ruled that companies could do so but they must tell investors beforehand which sites they will be using. Netflix announced on Wednesday that it would disclose information via its blogs, Facebook and Twitter.
