A fifth season of Arrested Development is still possible, Neflix's CEO Reed Hastings has revealed.

The cult comedy, which originally ran for three seasons on Fox from 2003 - 2006, returned for a fourth season on Netflix last Sunday (May 26).

Hastings told CNBC's Squawk on the Street: "Arrested is unique because that's really up to the talent.

"If the talent were willing to do more… I'm sure we would be willing."

Hastings confirmed that Netflix will not release ratings for the show, however, he revealed that they are pleased with its performance so far.

He said: "We've had very high expectations from the beginning for Arrested Development.

"It's got a well-known brand, and it met all of those expectations. We've been thrilled with the response, it's been huge, just as we had hoped."