The winner of the streaming battle?What's next for Netflix?

Betting on live streaming?

However, as Netflix's lead expands, some analysts say the company's next big area of competition is live streaming events, which is currently dominated by big tech companies and traditional TV.

"While Netflix is the market leader and the largest innovator in entertainment streaming, it is catching up with competitors such as Amazon, YouTube, Walt Disney and NBCUniversal in live events and sports," eMarketer analyst Paul Verna said by email.

The company is also expanding the live broadcast track deeper, planning to broadcast NFL games and boxing matches between Jake Paul and Mike Tyson. Shows such as "Baby Reindeer" and the third season of "Bridgerton" are among the shows to watch in the second quarter, according to analysts at JPMorgan.

Stop publishing the number of members

Netflix plans to stop publishing membership numbers from next year, a metric that investors watched closely a few years ago. No longer announcing the number of users has upset some investors. Wedbush analysts said in a research note on Friday that they saw the move as part of a transition to a slower-growing, more profitable business. The evolution, however, is "far from complete," they said.

As Netflix no longer publishes subscriber counts, metrics such as its actual financials and advertising revenue and content spending will become even more important.