July 12 (Bloomberg) -- Netflix Inc., the largest subscription video-streaming service, is in talks for another season of “Arrested Development,” said Brian Grazer, co-chairman of the production company, Imagine Entertainment.
“We are in conversations with them to do another,” Grazer said in an interview yesterday with Bloomberg Television at the Allen & Co. conference in Sun Valley, Idaho. “They are interested in doing that.”
Chief Executive Officer Reed Hastings has called “Arrested Development” and other “Netflix originals” integral to his strategy of transforming the company from a purveyor of rerun programming into a Web-based television network offering a mix of Hollywood movies and new shows, comparable to Time Warner Inc.’s HBO.
Joris Evers, a spokesman for the Los Gatos, California-based company, didn’t respond to a phone message and e-mail seeking comment.
All-new episodes of “Arrested Development” and the horror series “Hemlock Grove” began streaming on Netflix in the second quarter, and Hastings has said both exceeded viewing expectations, without offering numbers. The revived show, produced with 21st Century Fox Inc., follows the comedic exploits of the Bluth family. Hastings originally said it was a one-season undertaking, a position he hedged in May on CNBC.
“If the talent were willing to do more and interested in that, I’m sure we would be willing,” Hastings told the network.
Netflix reports second-quarter results on July 22. Investors are expected to focus on subscriber figures to see if the company has parlayed its originals programs into new signups and better customer retention. Netflix makes it easy to sign up for a first month free and then quit.
The company recently ordered a second season of “Orange is the New Black” and “Hemlock Grove,” joining new orders for “House of Cards,” and “Lilyhammer.”
Netflix rose 0.1 percent to $244.17 yesterday in New York. The stock has surged 164 percent this year and is the top performer in the Standard & Poor’s 500 Index for 2013.
To contact the editor responsible for this story: Anthony Palazzo at firstname.lastname@example.org