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Facebook Becomes Your Local Movie Rental Store

Spondo launched a video rental and streaming platform on the social network.

Facebook Becomes Your Local Movie Rental Store

Looking for scary movies this Halloween? Then check out Facebook. Spondo has launched a video rental and streaming platform on Facebook that gives users on-demand, full-length movies and the opportunity to earn a little cash by sharing videos.

"When someone watches a movie directly on Facebook, they can share and comment with their friends and followers, and that leads to a viral effect in people learning about content from their friends," CEO Chris Adams, a former Facebook consultant, told Fast Company. In time for Halloween, Spondo is launching with about 200 horror movies, including Little Shop of Horrors and Night of the Living Dead. The company says it will add both mainstream and indie titles in the coming months.

To leverage recommendations from a person's social network, Spondo encourages users to share videos they've paid to watch on Facebook. If that results in a sale, a percentage is paid to the sharer's PayPal account. "Social media marketing, SEO, [search engine marketing], and other digital outreach have created vast communities around content online, but ultimately serves to drive customers to other sites, like Netflix, iTunes, Hulu, or Amazon," Adams said. "Thus the content creator loses the consumer, revenues, and data. Spondo solves this problem."

In addition to building out a larger catalog, Spondo is also exploring adding social viewing functionality so people can watch movies and shows together on Facebook.