After putting the market to shame for the better part of the last two years, shares of streaming powerhouse Netflix (NASDAQ:NFLX) appeared to have finally come down to earth lately as the broader sell-off grabbing growth stocks has also ensnared other streaming plays like (NASDAQ:AMZN)

Things have heated up in the ongoing competition for streaming viewers, where Netflix and have established themselves as the two clear leaders in this emerging new-media paradigm. And although Netflix probably owns the title of streaming top dog, Amazon has also notched some impressive wins lately, such as its recent announcement that video streams on its Prime Streaming service have tripled in certain markets over the last year. Watch out, Netflix.

Source: Netflix.

Netflix put to the test
Investors will have their first chance to size up Netflix progress thus far in 2014 when it reports its Q1 earnings on April 21. And as you might expect for a growth company of Netflix's stature, analysts' expectations are calling for a big quarter out of it.

In the video below, tech and telecom specialist Andrew Tonner examines the key numbers and storylines that investors need to watch for when Netflix reports its earnings in the days ahead.