So when all is said and done, Netflix adds a record 37M new subs in 2020, but the pull-forward of the pandemic is expected to be minimal in ‘21. Don’t be surprised by major YoY drops as compared to an unprecedented 2020, with domestic growth likely plateauing once again.

On the content side, Q4 looks like a much bigger success than Q2/Q3 outside of #TheUmbrellaAcademy S2. The combo of #TheQueensGambit, Emily in Paris, #TheCrown S3, #Bridgerton , The Midnight Sky is a STRONG finish to the year. #Lupin is a strong start as well.

As broken down by @EntStrategyGuy guy though, it looks like Netflix’s film slate failed to pop as hoped. Despite adding more global subs, the frequency of global film hits seems to be decreasing. Not what Netflix wants to see after announcing 70+ new movies in 2021.

Netflix paid around $200M for Red Notice (which I’m PUMPED for). Yet my own studies as well as others reveal that TV is FAR more valuable than films to sub retention long-term. Are these nine figure budgets better served for series than films? What happens if ‘21 slate flops?

Netflix still boasts the best SVOD retention/churn rates BY FAR, per @AntennaData. NFLX also said they don’t need to “raise external financing for our day-to-day operations.” Curious if they’ll now experiment with various ways to monetize market-leading sub base.

That’s enough rambling for now. I’ll have more Netflix coverage this week on @observer.