Lupin & The Significance of Netflix's ($NFLX) Q4 Letter to Shareholders

Why Lupin's success bodes well for Netflix's need for international growth, and ominously for expensive Hollywood deals like Ryan Murphy's

Last Tuesday, Netflix released its Q4 2020 earnings results. Most of the analyst coverage since the earnings call has focused on its reaching 200MM subscribers, and its promise of positive free cash flow in 2021.

But little, if any, coverage has focused on the significance of this paragraph in its Letter to Shareholders:

We continue to ramp up our local o…