When it comes to earnings calls, Netflix has long done things a little differently than most public companies. But now it’s taking matters to another level.
After the company reports its quarterly results later this month, it will hold a video talk show with CEO Reed Hastings and Chief Financial Officer David Wells. The discussion will be moderated by Julia Boorstin, CNBC’s media and entertainment reporter, Rich Greenfield, a financial analyst who covers the company for BTIG. The video will be streamed (of course) live to viewers via the investor relations area of Netflix’s Web site.
Netflix Joris Evers told CNET that the company is hoping to make its earnings discussions more transparent.
“By having independent third parties run the Q&A, we think it will be more interesting and more informative to investors,” Evers said.
The earnings video will take place on July 22. The company will report its earnings around 1:05 p.m. PT, then start the video chat at 3.
Earnings calls are typically stodgy affairs in which company managers read from a script and then take often obscure or arcane questions from financial analysts over a conference call.
Netflix long ago altered that format. Instead of taking live calls, the company asked analysts and investors to submit their questions via email. Those questions were read aloud by a company employee who presumably picked and chose which questions to ask.
This is not the first time that Netflix has tried to push the boundaries of what’s acceptable when communicating with investors and analysts. Last year, the company got in some hot water with the Securities and Exchange Commission because it was posting company information and updates on its Facebook page. The regulatory agency later gave its stamp of approval to such communications.