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This integration lets you post movies you've rated on Netflix in your Facebook profile. To start using the feature, go to www.netflix.com/facebookconnect and use the "Connect" button. If you don't like it, you can opt out (or back in) at any time.
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This is an example of the win-win that is Facebook Connect. Netflix gets more traffic, since reviews are published back to Facebook News Feeds, while Facebook gets more interesting data to share with your friends.