Facebook to join forces with Hollywood

Inspired by the commercial and critical success of the movie ‘The Social Network’, social networking giant Facebook has decided to hire a media executive to supervise the seamless expansion of its social media business. The company apparently is mulling over few shortlisted names.

However, nothing has been confirmed yet. Although rumor has it the man likely to bag this opportunity is Jason Hirschorn. Mr. Hirschorn is a former MTV executive and former co-president of Myspace. His previous experience gives him a clear edge over his rivals in terms of media and social networking experience.

Interestingly, Facebook top management panel’s opinion about media industry has changed drastically in the last few months. One chief reason for it is considered to be the unlikely success of the movie ‘The Social Network’, that was lauded by critics as well as audience.  Today, Facebook sees Hollywood as a potential business partner, which could help it tap new revenue resources.

However, Facebook isn’t the lone runner in this race. Rival Twitter already had Omid Ashtari onboard, a former executive with Creative Artists Agency, to maintain its ties with Hollywood. Another social networking giant, MySpace has already been going great guns, thanks to its new owner Justin Timberlake who is promoting it in music industry.

Meanwhile, this isn’t Facebook’s first brush with Media. Company’s COO Sheryl Sandberg, who is now on Walt Disney Board of Directors panel, was handling its media ties until December 2009. Last June, Netflix’s CEO Reed Hastings joined Facebook’s Board of Directors Panel.

It would be interesting to see how Facebook’s arch rival Google Plus reacts to this move. According to experts, the move is likely to trigger another chain of events where the race will be to hire the best media executive for the job.
 
Let’s see what lies ahead!