Netflix Enhances L.A.-Based Content Group With Appointments of Two Movie Industry Veterans

Netflix Enhances L.A.-Based Content Group With Appointments of Two Movie Industry Veterans

Bahman Naraghi Will Lead Original Content Push and Sandy Friedman Will Run Content Operations

BEVERLY HILLS, Calif., April 17 /PRNewswire-FirstCall/ -- Netflix, Inc. (NASDAQ:NFLX), the world's largest online DVD rental service, today announced the appointments of entertainment industry veterans Bahman Naraghi as vice president and head of original content and Sanford (Sandy) Friedman as vice president of product operations. Mr. Naraghi and Mr. Friedman join the company's Beverly Hills office at a time of continued rapid growth for Netflix's online subscription business.

Mr. Naraghi will lead all aspects of the company's push into the acquisition and distribution of original content, primarily independently produced movie and television properties that will join Netflix's expansive catalog of 60,000 titles. This initiative provides Netflix the opportunity to offer its more than 4.2 million subscribers entree to a wide variety of films they might not otherwise see and provides filmmakers a platform to expose independent projects to a broad audience.

Mr. Friedman will focus on improving the quality of acquisition, receiving, shipping and handling of the company's inventory of over 45 million DVD copies. He will work across Netflix's supply chain on manufacturing and process improvements that support the company's growth and profitability goals.

"As Netflix pushes toward its goal of 20 million subscribers by 2010-2012, and as we continue to rapidly expand both the variety and sheer volume of our content, seasoned leaders like Bahman and Sandy will add exponentially to our efforts," said Netflix Chief Content Officer Ted Sarandos, to whom Mr. Naraghi and Mr. Friedman will report. "Each brings a unique blend of industry experience and business savvy to his role and together they are a huge complement to the talented team we've already built here."

Mr. Naraghi served for the last three years as chief operating officer of Intermedia Film, one of the industry's largest independent film production companies (whose credits include Terminator III, Alexander, Life of David Gale, Adaptation and Welcome to Mooseport). Prior to that, he was executive vice president of finance and operations for Miramax Films and earlier spent five years at Universal, where he served as executive vice president and chief financial officer for Universal Pictures. He started his career in the entertainment business in 1990, supervising over a five-year period the rebuilding of MGM on behalf of the French bank, Credit Lyonnais. Mr. Naraghi has an MBA equivalent from the Ecole des Hautes Etudes Commerciales in Paris and a Baccalaureate degree from the Lycee Henri IV, also in Paris.

Mr. Friedman joins Netflix from DreamWorks Home Entertainment, where he served for the last seven years as head of worldwide operations. Earlier, he was both senior vice president of domestic home video operations and vice president of business administration for Turner Home Entertainment. From 1990 to 1994, Mr. Friedman served as director of credit and operations for Warner Home Video and a term as vice president of worldwide finance and administration for Warner Bros. Consumer Products. From 1987 through 1990, Mr. Friedman was vice president of finance for MGM/UA Telecommunications, Inc. Earlier, he served in various administrative and finance management positions for such companies as Paramount Home Video, Embassy Home Entertainment and Citicorp Retail Consumer Services, Inc. For the last five years, he has also served as a board member of the Digital Entertainment Group. Mr. Friedman has a Juris Doctor degree from La Verne College of Law and a B.S. in business administration, with a minor in accounting, from California State University, Northridge.

In addition, Netflix announced the appointment of James Maysonet as director of purchasing operations. Mr. Maysonet joins Netflix after working for the last six years at MGM, where he held a succession of distribution and operations positions culminating in his role as vice president of distribution operations. He was instrumental in streamlining distribution processes when MGM split from Warner distribution in 1999. He later joined Sony Home Entertainment, as part of the merger between MGM and Sony Pictures, to lead the supply chain group. Mr. Maysonet studied at New York University's School of Hotel and Restaurant Management.

About Netflix

Netflix is the world's largest online movie rental service, providing more than four million subscribers access to over 60,000 DVD titles. The company offers a variety of subscription plans, starting at $9.99 a month. There are no due dates, no late fees and no shipping fees. DVDs are delivered for free by the USPS from regional shipping centers located throughout the United States. Netflix can reach more than 90 percent of its subscribers with generally one business-day delivery. Netflix offers personalized movie recommendations to its members and has more than one billion movie ratings. Netflix also allows members to share and recommend movies to one another through its Friends(SM) feature. For more information, visit www.netflix.com.

Source: Netflix, Inc.

CONTACT: investors, Deborah Crawford, Director, Investor Relations,
+1-408-540-3712, or media, Steve Swasey, Director, Corporate Communications,
+1-408-540-3947, both of Netflix

Web site: http://www.netflix.com/

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