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The Great Netflix Hit Factory Paradox

Netflix pumped out more megahits in 2022 than any time in recent history, so why is subscription growth petering domestically as its stock limply recovers? Hollywood may be a hits business, but streaming is a little more complicated.

Wednesday
Wednesday, the new Addams Family coming-of-age series from Tim Burton, delivered the biggest premiere weekend of any English-speaking title on the service. Courtesy of Netflix
Julia Alexander
December 6, 2022

Netflix is on a hot streak. Monster: The Jeffrey Dahmer Story is the third series to surpass one billion hours viewed (about 112 million complete season streams) in 60 days, just behind Stranger Things 4 and Squid Game. Wednesday, the new Addams Family coming-of-age series from Tim Burton, delivered the biggest premiere weekend of any English-speaking title on the service. The show amassed more than 750 million hours viewed over the past two weeks, and will likely break into Netflix’s Top 10 most watched English-speaking premieres ever next week. And barring any last minute shifts, Stranger Things 4 will be crowned the biggest show of 2022 by almost any metric—views, demand, social media engagement, etcetera.