A significant shift is under way in the ways companies are allowed to disclose material public information to shareholders and the public. Championed by Netflix (NASDAQ:NFLX) CEO Reed Hastings, social media has become a new outlet for information to be disseminated on a more official basis. Having used Facebook (NASDAQ:FB) as a test case, Hastings continues to look toward social media to let the public know about important developments.

In the following video, Fool.com contributor Doug Ehrman discusses how the rules have changed and why this could be a significant win for Facebook looking ahead.

Fool contributor Doug Ehrman has no position in any stocks mentioned. The Motley Fool recommends and owns shares of Facebook and Netflix. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.