In today’s news ESPN capitalizes on Twitter buzz, Netflix petitions in Washington, and Facebook goes public.

Blake Griffin Goes Viral

We have reported before about how Twitter’s role as a news-breaker will save network television. On Monday night, ESPN showed us how powerful that role can be.

Almost immediately after Los Angeles Clipper’s forward Blake Griffin threw down a monster slam dunk over Oklahoma City Thunder’s Kendrick Perkins, Twitter all but exploded. Thousands of people were eager to Tweet their thoughts, among them some of professional sports’ biggest stars. ESPN capitalized on the hype. They began airing the dunk repeatedly, and included some of the athletes’ Twitter comments. Soon after, the network included it in their Top Ten Plays of the Day.

ESPN has always been the example of how to effectively use social media, especially Twitter. All of their personalities have Twitter accounts, and they use the microblog as a reporting source. By staying on top of the latest media trends, the benefits of social news-sharing have come naturally to them.

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Netflix Looks to Legalize Facebook App

Netflix has taken to Washington in an attempt to legalize their new Facebook app. The online TV show and movie provider is petitioning Congress to amend a two-decade old privacy law preventing video providers from releasing movie rental information without written consent from the customer. Because of this law, Netflix cannot release their Facebook app in the United States.

This app would allow Netflix to make TV show and movie recommendations to their users based on the preferences of their social contacts. They want to amend the legislation so that the customer can opt to include the social feature with a one-time statement of consent.

As it stands, the privacy law would require Netflix to ask for permission every time it wants to share information. Other media companies, such as music provider Spotify, have incorporated similar Facebook apps, so it is likely Congress will rule in Netflix’s favor.

Although it will take more than an app to save Netflix from its recent troubles, the company’s effort to become more social is certainly a step in the right direction.

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Facebook Prepares for IPO

Facebook’s Initial Public Offering is expected to be one of the largest U.S. market debuts in history.

The social media network chose investment firm Morgan Stanley to take the lead role in the $5 billion dollar IPO. This number is just a preliminary target and could increase depending on investor demand.

Mark Zuckerberg’s decision to go public has stirred up a fury of speculation about the company’s future, along with the future of the tech industry. Industry professionals are concerned with how the CEO, who has a pension for secrecy, will deal with answering to stockholders.

Others are hoping that a successful IPO means a rise in stock value for other tech companies. It will be interesting to see how Facebook adapts to public ownership, and what that means for the tech industry.

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