Tuesday, September 20, 2011

Prediction Fulfilled -- Netlix's Stock Nose-Dives

Yesterday, I wrote about Reed Hastings decision to split Netflix into two businesses -- Netflix (the online streaming business) and Qwikster (the legacy DVD business). Intellectually, I didn't "get it" (and I wasn't alone), although I understood the emotional rationale. And, I questioned whether the company moved too quickly (and felt I was very clever by saying "Qwiksterly", although I now cringe a bit when reading that one). I also predicted that Netflix's stock would get hammered after the announcement.

Prediction fulfilled. As of 7:15 am PT, the stock is now trading at its 52 week lows ($135/share) -- and about $20 lower than when Hastings announced the news.

Yikes ...

Another Kudo for Sorenson Media, CTO Mike Flathers

In recognition of our company's storied place in the video production eco-system, Sorenson Media - and our CTO Mike Flathers -- have been selected to participate in the Joint Task Force on a Framework for Interoperability of Media Services ("FIMS") in TV production. FIMS is spearheaded by the Advanced Media Workflow Association ("AMWA") and the European Broadcasting Union ("EBU"), which brings together top-tier global broadcasters and media service providers to to develop standard interfaces between components and systems that will create highly interoperable video workflows. Click here to read the full press release that just hit the wires.

Sorenson is joined on the FIMS consortium by other stalwarts in video production, including Avid, BBC, Canadian Broadcast Corp., Harris Corp., IBM, NBC Universal, Oracle and Sony, among others. 70%+ of US Fortune 100 companies and 60%+ of US Top 30 broadcast station groups are customers of Sorenson Media.