Netflix has for several years been reaching out both to local distributors and content producers to sustain global growth and buttress itself against intensifying competition from all quarters, including indigenous sources and the US-owned majors. There is some evidence of that working from recent results, although the bigger test is yet to come as Disney+, AT&T’s HBO Now, Comcast’s Peacock and Apple TV+ all ramp up during 2020. We may recall how Netflix endured a rare slump in subscriber growth over Q2 2019 as a result of losing 130,000 subscribers in its already-saturated home US base. These US losses were stemmed in Q3 while international subs surged to leave Netflix on 60.6 million home subs and 97.7 million overseas, or 158.3…