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Reed Hastings joins Microsoft's board of directors

Microsoft has added the chairman and CEO of Netflix to its board of directors, increasing the size of the board from nine to 10 members. Hastings has also been appointed to the finance committee.

“Reed’s track record for delivering innovative and disruptive technologies to market is very impressive,” said Microsoft chairman Bill Gates. “With his rich consumer and technology background, he will be a tremendous addition to our board.”

Hastings founded Netflix in 1997, and the company ended 2006 with 6.3 million subscribers, having more than doubled in size over the last two years. Prior to founding Netflix, Hastings founded Pure Software, later acquired by Rational Software in 1997.

“There are very few companies that rival Microsoft’s impact on the way millions of people live, work and play around the world,” Hastings said. “I look forward to working with Microsoft’s esteemed group of board members to help shape the direction of the company as it continues to tackle the biggest industry challenges and opportunities.”

Microsoft’s board of directors also declared a quarterly dividend of $0.10 per share, payable June 14, 2007, to shareholders of record on May 17, 2007. The ex-dividend date will be May 15, 2007.

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Is this a sign of Blockbuster's demise?
By SunAngel on 3/28/2007 3:04:54 PM , Rating: 2
In my opinion, Blockbuster's Total Access plan was a strategic mistake that should make their losses even greater over the long run. It was a good idea in theory allowing free movies in an attempt to regain market share. But, how long can they continue this. Eventually, they will have to start closing stores to become profitable again. If only they would have paid attention to Gateway's move to close brick and morters. They have clout in Hollywood and elsewhere. They could (easily) negotiated better deals with the studios. But oh well, RIP BB. I'm really enjoying Total Access while it is available.




RE: Is this a sign of Blockbuster's demise?
By Mitch101 on 3/28/2007 3:31:42 PM , Rating: 3
What I like about the Blockbuster deal.
1-I can get movies instantly just by going to the local blockbuster.
2-Those movies I drop off show are returned and the next movies in my Q are shipped.

What I dont like about the Blockbuster deal.
1-My local Blockbuster doesnt carry D*ck which is like getting old movies since decent movies rarely come out.
2-I can get late fees for not returning movies from my local store.
3-Blockbuster is still very slow at shipping out my Queued movies. Some show up as much as 7 days later and the distribution point I pass on my way to work.


By SunAngel on 3/28/2007 3:46:34 PM , Rating: 1
exactly! Good for us, bad for them.


By Spivonious on 3/28/2007 4:04:07 PM , Rating: 2
What I like about Blockbuster:
1. Free movies at the store for returning mailed ones there.
2. store-returned movies cause next queue movies to be sent out immediately.
3. new movies come about every 3-4 business days.
4. movies I rent at the store can be returned up to seven days past the due date with no penalties.
5. movies I rent at the store can be returned up to thirty days past the due date with a $1.65 restocking fee.

I can't think of anything I don't like about them. $9.99 a month for unlimited movies is a pretty good deal.


By Samus on 3/28/2007 8:57:23 PM , Rating: 2
yes but blockbuster's online (and store) selection is still only half (at best) of netflix's. Especially if you like anime or rare films.


By theapparition on 3/29/2007 7:40:42 AM , Rating: 2
quote:
1-My local Blockbuster doesnt carry D*ck

So are you complaining that Blockbuster doesn't carry gay porn?


RE: Is this a sign of Blockbuster's demise?
By Oregonian2 on 3/28/2007 5:24:15 PM , Rating: 2
quote:
If only they would have paid attention to Gateway's move to close brick and morters.


Gateway's stores were different. They were not useful. To many, the Blockbuster stores are useful. When we "started" DVD-movies the selection at Blockbusters was good. Lots not seen yet (that looked interesting). Later started going to different stores (they have different inventory). Starting to have trouble using bonus-plan non-new-movie selections. So Netflix is "it" and still good (although selections are getting more and more niche sort of movies). But anyway, Gateway on the other hand, had stores that didn't sell anything. They weren't stores, they were B&M catalogs. When I was laptop hunting I went to one that was nearby. Even if I loved what they had, I couldn't buy one -- still had to be ordered online and shipped to me. Now they'd help with the online ordering, but hand holding me for the online ordering system of Gateway isn't something I needed a store person to do (and probably is a detriment, actually). Those B&M's were stupid. Blockbuster stores actually use to make money I understand, and they actually get revenue from customers. Nothing that Gateway stores did.

P.S. - Bought a Dell (online).


By Samus on 3/28/2007 8:58:34 PM , Rating: 2
not at a dell kiosk huh ;) my friend works one in a chicago mall somewhere and says its a pilot program guaranteed to fail.


Its all about IPTV...
By CupCak3 on 3/29/2007 12:19:55 PM , Rating: 2
I'm surprised no one has yet mentioned the obvious of MS and Netflix joining forces for IPTV and movie rentals over xbox live and the MS marketplace. Netflix has been breaking into this market and MS is obviously positioning themselves to also take advantage of it...

I think depending on the pricepoint, this could be very good for us consumers.




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