Four days before Christmas, Netflix gifted subscribers with Bird Box, a post-apocalyptic thriller in which Sandra Bullock’s character has to wear a blindfold to avoid her destruction. It became the streaming equivalent of a blockbuster. Netflix claims 45m people watched Bird Box in the first week of its release, while television ratings group Nielsen says 26m people viewed it in that time.

The film’s popularity was helped by social media, where it became a viral meme, spawning a #BirdBoxChallenge as people posted videos of themselves blindfolded in various settings. “Classical measurement has either been box office or awards. This defies all of it,” director Susan Bier told the Hollywood Reporter. “But creating a phenomenon is bound to translate into something.” 

On Thursday, Netflix will update investors on how programming such as Bird Box translates into income. Netflix’s business model is expensive — the company spent an estimated $13bn on content in 2018, regularly outbidding traditional Hollywood studios and TV networks for the most sought-after scripts and ideas.