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Expand chart
Data: Kantar; Chart: Axios Visuals

Analysts are bullish ahead of Netflix's Q1 earnings Tuesday, but there's no question that the streaming giant will need to rely heavily on subscriber gains abroad in order to maintain its lead in the streaming wars.

Driving the news: The percentage of new streaming subscribers in the U.S. signing up for Netflix has declined since the onset of the pandemic, thanks to increased competition from new streamers, according to data from Kantar.

The big picture:

  • HBO Max's decision to put all of its Warner Bros. films on its streaming service in conjunction with their theatrical debut has boosted new sign-ups.
  • Disney+ hits like "WandaVision" helped the streamer surpass 100 million subscribers earlier this year.

The real question, Bloomberg's Lucas Shaw notes, "is whether this loss of share means interest in Netflix is sagging." New entrants to the streaming battlefield doesn't have to be a loss for Netflix.

What to watch: Analysts will want to know more about how price increases and password-sharing crackdowns have impacted financials and subscriber growth.

Go deeper: Netflix inks major streaming deal with Sony, expanding library

Go deeper

2021's expected earnings blowout begins

JPMorgan CEO Jamie Dimon. Photo: Mark Kauzlarich/Bloomberg via Getty Images

First-quarter earnings so far have been very strong, outpacing even the rosy expectations from Wall Street and that's a trend that's expected to continue for all of 2021. S&P 500 companies are on pace for one of the best quarters of positive earnings surprises on record, according to FactSet.

Why it matters: The results show that not only has the earnings recession ended for U.S. companies, but firms are performing better than expected and the economy may be justifying all the hype.

Updated 2 hours ago - Politics & Policy

Virginia attorney general fires Jan. 6 investigator from university post

McIntire Amphitheater at the University of Virginia, Charlottesville, Virginia. Photo: Robert Knopes/UCG/Universal Images Group via Getty Images

The lead investigator for the Jan. 6 House select committee investigating the Capitol riot has been fired from his position as the University of Virginia's counsel by the state's new Republican attorney general, per the Washington Post.

Why it matters: Democrats say the removal of Tim Heaphy from his post after some three years while he's on leave from the university to investigate the insurrection is likely "retribution" for the House probe — an accusation strongly denied by the office of state Attorney General Jason Miyares (R).

5 hours ago - World

Taiwan's military scrambles jets after detecting 39 Chinese warplanes

J-20 stealth fighter jets in Zhuhai in the Guangdong Province of China last year. Photo: Chen Jimin/China News Service via Getty Images

Taiwan's defense force said 39 Chinese warplanes flew into its Air Defense Identification Zone (ADIZ) on Sunday.

Why it matters: The largest Chinese air force incursion into the zone since October came a day after the U.S. and Japanese navies conducted a joint exercise in the Philippine Sea.