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Netflix, Inc. (NFLX) Explains CFO’s Remarks Against Net Neutrality

Netflix, Inc. (NASDAQ:NFLX) still supports net neutrality even though its CFO’s remarks at an investor conference implied that he wasn’t happy with the Federal Communications Commission’s (FCC) vote to regulate the internet. A CNET article reported on the news and discussed Netflix’s explanation after its CFO’s comment.

Netflix Inc logo (NFLX)

At a Morgan Stanley investor conference in San Francisco, Chief Financial Officer of Netflix, Inc., David Wells said something which reflected that he wasn’t happy with the Federal Communications Commission’s vote to regulate the internet under Title II of the 1934 Communications Act and also intimated that the company was backing off from its point of view over net neutrality.

“Were we pleased that it pushed to Title II? Probably not,” Wells said.

Wells’ comment seemed to negate Netflix’s hard work to make sure internet service providers don’t charge it or any other content companies extra fees to transfer their high-bandwidth traffic. Netflix, Inc. (NASDAQ:NFLX) knows exactly that without such regulations, internet service providers could create fast lanes for specific companies and excessively charge them and that’s why it had to explain itself a day after the comment by Wells went public.

“Netflix supports the FCC’s action last week to adopt Title II in ensuring consumers get the Internet they paid for without interference by ISPs. There has been zero change in our very well-documented position in support of strong Net neutrality rules,” said Anne Marie Sequeo, a spokeswoman for Netflix, Inc.

Clarifying the CFO’s comments, Sequeo said that remarks were taken out of context and their company is very happy about the FCC adding a provision allowing the agency to resolve disputes between companies like Netflix, Inc. (NASDAQ:NFLX), which consumes large amounts of internet traffic and local broadband networks such as Comcast Corporation (NASDAQ:CMCSA) and Verizon Communications Inc. (NYSE:VZ).

“We are strong advocates for Net neutrality and don’t believe data caps are good for consumers and the Internet generally,” Sequeo said.

Netflix, Inc. (NASDAQ:NFLX) is still in favor of net neutrality and supports the FCC’s vote to regulate the internet as it has argued in the past that it should not be charged to deliver its traffic to the consumers who already pay for their internet access. However even after winning the argument that it should not have to pay an extra fee to deliver its content to people, it has still urged the FCC to look more closely into the deals that could provide help in solving any issues that may arise between them and internet service providers.

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