Warner Bros. to Rent Movies on Facebook, Netflix Shares Stumble

Paul Lilly

In a bid to stay relevant and avoid the same ultimate fate as MySpace, Facebook will try its hand at renting and selling Warner Bros. flicks through public pages of WB movies. The trial kicks off on Tuesday with Batman: The Dark Knight . Facebook users will have the option of forking over 30 Facebook credits ($3) to watch the movie through a Facebook application.

Rentals are good for up to 48 hours, or about double what most other streaming rental services allow. Users who have trouble sitting still can post comments, update their status, and generally just use Facebook while watching the movie.

"Facebook has become a daily destination for hundreds of millions of people," said Thomas Gewecke , President of Warner Bros. Digital Distribution. "Making our films available through Facebook is a natural extension of our digital distribution efforts. It gives consumers a simple, convenient way to access and enjoy our films through the world's largest social network."

Warner Bros. said that "additional titles will be made available for rental and purchase on a regular basis over the coming months," but didn't say exactly which ones. Turns out they said enough.

Following news of the deal, Netflix stock began to tank, dropping more than 5 percent, BusinessInsider reports . Netflix, which has become ubiquitous with streaming movies and TV shows, is seeing increased competition as of late, not only from this Facebook/Warner Bros. collaboration, but from the likes of Amazon as well.

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