The Fox TV network show Arrested Development has been off the air for seven years — or about twice as long as the comedy was originally broadcast — but absence has only seemed to make the hearts of millions of fans grow fonder for the critically acclaimed, but low-rated, series.
At least, that’s what Netflix is banking on heading into this weekend, when it will release all 15 episodes of the long-awaited fourth season of the show on Sunday.
It is one of the few times any TV show has ever been brought back from cancellation. For Netflix, it also represents the biggest and boldest move yet in its efforts to become the signature online video-streaming company and revamp how consumers will watch television in the future.
The release also is generating anticipation over how much the cult comedy will affect the company’s forecasts for new subscribers — and its renewed upbeat standing on Wall Street. Netflix shares have surged more than 150 percent since the first of the year, mostly on hopes for growth in the company’s streaming business.
“Arrested Development is important for Netflix, not because it will necessarily be the best original programming they offer, but that it will certainly be the most highly anticipated to date, due to the popularity of the series,” said Mike Olson, an analyst with Piper Jaffray.
Netflix put up a trailer for the show on May 12 on YouTube that has so far been watched 2.3 million times.
It’s been a long climb back to respectability for Netflix since its stock hit an all-time high of $304 in July 2011, before cratering amid a slate of fiascoes that included an unpopular price increase.