News: Netflix in Trouble After Revealing too Much on Facebook

On-demand TV and film company Netflix have landed themselves in hot water with US authorities by revealing company information on Facebook.

The Securities Exchange Commission (SEC) warned it may bring civil action against the company after CEO Reed Hastings announced on Facebook in July that Netflix had exceeded 1 billion hours of viewings the previous month. The post was visible to the 244,000 followers of the Netflix page and led shares in the company to rise 6.2% that same day.

It is thought that Netflix contravened the SEC’s rule that public companies need to make a public announcement for such information. However, the company’s CEO argues that a Facebook post to so many followers should be considered public. This has set off a wider debate about what companies should share on Facebook.

What do you think? Are you happy to share how your company is doing on social media or do you use it for other purposes? Leave us a comment to let us know.

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Kasey writes about the latest small business and website news for bOnline. Find Kasey on Google+, or follow bOnline on Facebook, Twitter, LinkedIn and Google+

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