The problem with competing in Hollywood is that the last blockbuster always has to be topped by the next one.
Netflix surely knows this already, which is why the streaming company might be approaching its first-quarter report due Monday afternoon with a bit of stage fright. The last report in late January featured a record number of new subscriber additions and thus trounced some already-high expectations. That, in turn, lighted up the stock. Netflix shares have surged 37% since that report—and 62% since the start of the...